BSE / NSE Cybersecurity Audit
Cybersecurity audit for listed companies and intermediaries meeting BSE and NSE exchange mandates.
BSE / NSE Exchange Cybersecurity Audit
The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) have issued circulars mandating annual cybersecurity audits for listed companies, trading members, and depository participants. These exchange-level mandates operate alongside SEBI CSCRF requirements and require entities to submit a cybersecurity compliance certification to the exchange annually — signed by the entity's Board and supported by an independent audit from a CERT-In empanelled organisation.
Intelliroot conducts BSE/NSE exchange-mandated cybersecurity audits covering all prescribed control domains — from network security of trading infrastructure and algo trading security controls to endpoint protection across trading terminals and co-location security arrangements. Our audit report satisfies the requirements of both BSE and NSE circulars simultaneously, reducing audit fatigue for organisations listed on both exchanges.
Why Exchange Cybersecurity Compliance Matters
Exchange Listing Obligation
Failure to submit the annual cybersecurity compliance certification to BSE/NSE is a breach of listing obligations. Exchanges can impose penalties, issue public notices, and escalate non-compliant entities to SEBI — creating both regulatory and reputational risk.
Trading Infrastructure Is Mission-Critical
A cyberattack that disrupts trading systems, order management, or market data feeds can result in trading halts, financial losses, and regulatory investigations. Exchange audit circulars specifically target the controls protecting this critical infrastructure.
Algo Trading Requires Specialist Controls
Algorithmic trading introduces unique security risks — unauthorised algo deployment, parameter manipulation, and runaway algorithms. Exchange circulars require specific controls around algo testing, deployment, and monitoring that generic IS audits do not cover.
Co-Location Security Obligations
Trading members using co-location services at BSE or NSE are subject to specific security requirements for co-location environments. Non-compliance with co-location security obligations can result in suspension of co-location services.
What the Exchange Audit Covers
Trading Infrastructure Security
- Order management system and matching engine connectivity
- Market data feed integrity and access controls
- Network segmentation for trading infrastructure
- Co-location environment security review
Algo Trading Controls
- Algo testing and deployment authorisation process
- Algo parameter change control and monitoring
- Kill switch and circuit breaker effectiveness
- Unauthorised algo detection capabilities
Endpoint & Access Security
- Endpoint protection for trading terminals
- Privileged access to trading systems
- Trader workstation security configuration
- Remote access security for trading staff
Governance & Compliance Reporting
- Exchange circular compliance gap assessment
- Incident reporting obligations to exchanges
- Annual compliance certification preparation
- Board-level attestation documentation
Our BSE / NSE Audit Approach
Circular Mapping & Scoping
Map the applicable BSE and NSE circular requirements to the entity's specific profile (listed company, trading member, depository participant). Define the audit scope — including trading systems, algo frameworks, terminals, and co-location arrangements.
Document & Policy Review
Review IS policies, trading system security procedures, algo governance documentation, BCP/DR plans, and exchange correspondence. Identify documentation gaps that would fail exchange inspection.
Technical Security Assessment
Conduct targeted VAPT of trading infrastructure, configuration review of order management and market data systems, endpoint security assessment of trading terminals, and security review of algo deployment pipelines.
Compliance Verification & Gap Analysis
Map all findings to specific BSE/NSE circular requirements. Classify gaps by severity and compliance impact. Identify any findings that must be remediated before the annual compliance certification can be submitted.
Compliance Certification & Report Issuance
Issue the exchange-mandated cybersecurity audit report signed by the CERT-In empanelled auditor. Prepare the annual compliance certification for Board attestation and exchange submission. Deliver remediation roadmap for outstanding gaps.
Frequently Asked Questions
Deliverables
Exchange Cybersecurity Audit Report
Full cybersecurity audit report signed by CERT-In empanelled auditor, structured to satisfy both BSE and NSE circular requirements simultaneously.
Annual Compliance Certification
Exchange-mandated annual compliance certification prepared for Board attestation and submission to BSE and NSE — formatted to each exchange's required template.
Control Gap Register
Risk-rated gap register mapping findings to specific BSE/NSE circular requirements, with evidence references and remediation recommendations.
Trading Infrastructure Security Report
Technical findings from the VAPT and configuration review of trading systems, order management, co-location, and algo trading infrastructure.
Remediation Roadmap
Prioritised remediation plan for outstanding compliance gaps, with effort estimates and implementation guidance aligned to the next exchange compliance submission deadline.
Request a Security Assessment
Tell us about your environment and security objectives. We'll design a bespoke assessment and deliver a detailed proposal within 48 hours.