NSE Reviews Network, Proposes AI Cyber Task Force for Market Safety
Mumbai, October 24: The National Stock Exchange (NSE) is reviewing its entire network to identify potential security weaknesses, its Managing Director and CEO Ashish Kumar Chauhan said on Saturday. Speaking at the ANMI International Capital Market Convention 2026 in Mumbai, he warned that artificial intelligence-based cyber attacks are becoming a growing danger and called on brokers to reinforce their defences.
Chauhan said a vulnerability in the security of even one market member could undermine the reliability and integrity of the whole capital market network. He emphasised that all participants need to stay alert as AI-driven threats rise quickly.
According to him, cybersecurity must become a central part of every broker's and market member's operations. This, he said, is essential to protect the security and reliability of trading systems nationwide. He also noted that new technological vulnerabilities may appear in the years to come, making early preparation critical for the industry.
He suggested that ANMI create a special task force to recognise potential cyber threats, coordinate efforts among different institutions, and support market participants in handling risks. Such a group, he indicated, could serve as a central point for collaboration.
The NSE, Chauhan said, is willing to support brokers through workshops and other training initiatives. It also plans to work alongside regulators to help strengthen security structures across the market. He advised brokers lacking sufficient technical skills to either develop internal capabilities or consult external specialists.
Referring to recent AI-based cyber incidents, he cautioned that a weak security system at any single market participant could affect the integrity of the broader market framework.
Chauhan also flagged quantum computing as a significant challenge for the future. He said the technology could eventually affect current cryptographic security systems and secure communication networks. Market participants, he stressed, must prepare not only for present threats but also for the technological shifts ahead.
He added that technology has long been central to capital market functioning, but changing risks show that market institutions cannot afford to fall behind on security.
Cybersecurity concerns have intensified in recent months. This month, a data breach was detected at State Bank of India (SBI), with confirmation that information related to 3,897 customers had been found on the dark web. Likewise, Punjab National Bank (PNB) issued a caution to customers about AI-based cyber fraud, voice cloning, deepfakes and phishing attacks.