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WFE publishes latest measures on enhancement of cyber resilience tools amidst COVID-19

The World Federation Exchanges (WFE) has published a report on measures undertaken by the industry to improve their existing cyber resilience tools during the COVID-19 pandemic. WFE’s surveys have consistently put cybersecurity as the topmost priority of exchange and CCPs.

The organisation has stated that, during the pandemic,  market infrastructures had to address challenges including mass remote-working arrangements, remote collaboration tools such as video and audio-conferencing applications, etc. Third-party risk has taken on greater importance and required creative measures to manage them.

Nandini Sukumar, Chief Executive Officer, the WFE said, “As markets and businesses have grown electronic, market infrastructures now devote a greater amount of resource and time to ensure cyber resilience than ever before. When the current world-wide pandemic situation, hopefully, lessens and countries and companies implement measured return to work procedures, WFE members recognise there will be a new normal operating environment for all in which such measures must continually be monitored, reviewed and implemented to protect against future threats.”

The measures undertaken were hoisted at the industry level by the organisation’s cybersecurity working group (GLEX).

Established in 1961 in London, WFE is the global industry association for exchanges and clearinghouses. It is a source for exchange-traded statistics and publishes over 350 market data indicators. The WFE works with standard-setters, policymakers, regulators and government organisations around the world and aims to support and promote the development of fair, transparent, stable and efficient markets.

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