Financial exchanges unite against hackers.

PositionCYBERSECURITY - Brief article

The World Federation of Exchanges (WFE) has decided it's time for the global financial exchanges to work together to thwart cyber attacks. The federation recently announced the formation of the Cyber Security Working Group, the exchange industry's first cybersecurity committee. Its mission is to help protect global capital markets by collaborating on best practices for protecting their infrastructures.

More than half the world's exchanges were victims of cyber crime in 2013, according to a paper published last summer by the WFE and the International Organization of Securities Commissions. Fortunately cyber attacks on stock markets have thus far focused on non-trading-related online services and websites and haven't come close to knocking out critical systems or trading platforms. Furthermore, most of...

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