The National Stock Exchange (NSE) is conducting a comprehensive review of its network to identify vulnerabilities amid the growing threat of artificial intelligence (AI)-powered cyberattacks. NSE Managing Director and Chief Executive Officer Ashish Kumar Chauhan has urged stockbrokers to make cybersecurity a core business function to protect the integrity of India’s trading ecosystem.
“Every member has to now take that out as a main function to ensure that integrity of our trading framework across India, across all members is maintained,” Chauhan said at the annual capital market convention organised by the Association of NSE Members of India (Anmi).
He warned that new vulnerabilities could emerge over the next few years and called on the industry association to establish a dedicated task force. The proposed group would identify emerging risks, coordinate responses and help market participants strengthen their cybersecurity measures.
Chauhan said NSE was ready to support brokers through workshops and other initiatives. The exchange would also work with the regulator to help market participants improve their security systems.
He advised brokers without in-house technical expertise to develop their capabilities or seek support from external advisers. Referring to recent AI-driven cyberattacks, he cautioned that weaknesses in individual members’ systems could threaten the security and integrity of the wider market network.
Chauhan also highlighted the long-term risks posed by quantum computing, which could weaken existing cryptographic systems, including those used for secure communications. He stressed that market participants must prepare for these emerging challenges alongside the immediate risks from AI-enabled attacks.
Technology has played a central role in capital market operations since NSE’s early years. However, Chauhan emphasised that exchanges, brokers and other institutions must continuously strengthen their defences as cyber threats evolve.
He reiterated that NSE would collaborate with industry bodies and the regulator to help the market ecosystem address these challenges. Coordinated action across the industry, he said, remains essential to maintaining trust and protecting the integrity of India’s capital markets.
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