Markets Hurt by Cyber Attacks on Stock Exchanges

Around half of the world’s securities exchanges were the target of cyber-attacks last year, according to a paper based on a survey of 46 exchanges released on Tuesday.

The prevalence of attacks along with the interconnected nature of the markets creates the potential for widespread impact, said the joint staff working paper by the International Organization of Securities Commissions’ (IOSCO) research department and the World Federation of Exchanges Office.

“There could be systemic impacts … from cyber attacks in the securities markets, especially considering that our financial system is relying more and more on technological infrastructure,” the report’s author, Rohini Tendulkar of the IOSCO Research Department, said in an interview.
SOURCE: foxbusiness.com