Tech outsourcing draws scrutiny from global securities regulators

5 October 2018 7:05pm
Technology outsourcing by companies in the securities market is drawing scrutiny from global standard-setters to ensure robust safeguards against hacking and other disruptions, a senior regulatory official has said.

Cybersecurity is among the top worries of the International Organization of Securities Commissions, or Iosco, Senior Policy Advisor Alp Eroglu told an industry conference* yesterday in Athens. So the regulatory body is keeping watch on how exchanges and other market infrastructure work with tech consultants, he said.

In a panel discussion on risks facing market operators, Eroglu described the failure of a clearinghouse as another high-priority concern, with outsourcing also a "very important" issue.