Cyber Attack Should Be Deemed Systemic Risk, Exchange Study Says

A “significant” number of exchanges have fought off sabotage via the Internet in the last year and the majority of bourses worldwide say it is a systemic risk to markets, according to a study co-authored by the World Federation of Exchanges.

About 53 percent of exchanges surveyed have been hit by a cyber-attack in the last year. American venues were most likely, with 67 percent saying they had to fight them off, the joint study by the International Organization of Securities Commissions and the WFE found. About 89 percent say it represents a systemic risk, the study said.