Market SOC Audit (MSOC)
Security operations centre audit for capital market participants under SEBI's MSOC framework.
Market SOC (MSOC) Audit for Capital Market Participants
SEBI's Market SOC (MSOC) framework establishes requirements for security operations centre capabilities at capital market participants, with a focus on threats specific to the securities market ecosystem — including algorithmic trading manipulation, market data feed integrity attacks, DDoS targeting trading systems, and insider threat detection. Entities covered by SEBI CSCRF are expected to establish or demonstrate MSOC capabilities commensurate with their maturity level tier and participate in threat intelligence sharing within the MSOC ecosystem.
Intelliroot conducts the MSOC capability maturity assessment, evaluating your SOC against the SEBI MSOC framework's detection engineering requirements, incident response playbooks, SEBI CIRT reporting integration, and threat intelligence posture. We bring both capital market domain expertise and hands-on SOC assessment experience — delivered by CREST-certified analysts who understand the difference between generic enterprise threats and capital market-specific attack vectors.
Why Capital Markets Need Specialist SOC Assessment
Market-Specific Threat Vectors
Capital markets face unique threats — algo trading manipulation, quote stuffing attacks on matching engines, co-location abuse, and market data feed poisoning — that generic SOC use cases and SIEM rules do not cover. MSOC assessment verifies your detection engineering addresses these vectors.
SEBI CIRT Reporting Integration
Capital market participants must report incidents to SEBI CIRT within defined timelines. An immature SOC that cannot detect, classify, and escalate incidents to SEBI CIRT within those windows creates direct regulatory exposure.
Threat Intelligence Sharing Obligations
The MSOC ecosystem is built around proactive threat intelligence sharing between participants. Entities that cannot receive, process, and act on MSOC threat intelligence are exposed to threats that peer institutions have already detected and blocked.
CSCRF Maturity Tier Requirements
Higher CSCRF maturity tiers explicitly require SOC capabilities meeting MSOC benchmarks. Without a formal MSOC assessment, higher-tier entities cannot demonstrate compliance with their CSCRF obligations during SEBI inspection.
What the MSOC Assessment Covers
Detection Engineering
- SIEM rule coverage for market-specific threats
- Use case library against MSOC framework requirements
- Alert tuning and false positive rate assessment
- Coverage gaps for algo trading and DDoS vectors
SOC Operations & Capability
- SOC staffing, shift coverage, and escalation procedures
- Incident triage and classification maturity
- Playbook and runbook completeness review
- Mean time to detect and respond benchmarking
Threat Intelligence
- Threat intelligence feed integration assessment
- MSOC ecosystem intelligence sharing readiness
- Indicator of Compromise operationalisation
- Threat hunting capability evaluation
Incident Response & SEBI CIRT
- SEBI CIRT reporting process and timeline capability
- Incident classification against CSCRF taxonomy
- Tabletop exercise for market-specific scenarios
- Post-incident review and lessons learned process
Our MSOC Assessment Approach
Framework Mapping & Scoping
Map the entity's CSCRF maturity tier to the applicable MSOC capability requirements. Define the assessment scope — including SOC tooling, personnel, processes, and threat intelligence sources.
Detection Engineering Review
Evaluate SIEM use cases and detection rules against the MSOC framework requirements and market-specific threat catalogue. Identify coverage gaps for capital market attack vectors including algo manipulation, DDoS on trading systems, and insider trading detection.
Playbook & Process Assessment
Review all incident response playbooks and runbooks for completeness, accuracy, and capital market relevance. Assess the end-to-end process from alert triage through SEBI CIRT notification, including escalation chains and documentation standards.
Tabletop Incident Exercise
Conduct a structured tabletop exercise simulating a market-specific incident (e.g., DDoS on trading gateway, suspected algo manipulation, insider data exfiltration) to test detection, response, and SEBI CIRT reporting capability under realistic conditions.
Maturity Scoring & Improvement Roadmap
Score SOC capabilities against the MSOC maturity model across all domains. Issue the MSOC assessment report with maturity scores and a prioritised capability improvement roadmap aligned to CSCRF compliance requirements.
Frequently Asked Questions
Deliverables
MSOC Maturity Assessment Report
Detailed SOC capability assessment mapped against SEBI MSOC framework requirements, with maturity scores across all assessed domains and benchmark comparisons.
Detection Coverage Gap Analysis
Analysis of SIEM use case coverage against the capital market threat catalogue, identifying detection gaps for market-specific attack vectors with recommended new use cases.
Playbook & Runbook Review
Assessment of all incident response playbooks against MSOC requirements, with gap findings and revised templates for capital market-specific incident scenarios.
Tabletop Exercise Report
Structured tabletop exercise outcomes, identifying process breakdowns, communication gaps, and SEBI CIRT reporting capability during simulated capital market incident scenarios.
Capability Improvement Roadmap
Prioritised roadmap for elevating SOC capabilities to meet MSOC framework requirements, with effort estimates and alignment to the annual CSCRF compliance cycle.
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.