Technology will continue to shape up market: SEBI Chief
Published: Sep 28, 2017
By TIOL CORP News Service
NEW DELHI, SEPT 28, 2017: Ajay Tyagi, Chairman of Securities and Exchange Board of India (SEBI) while addressing at the NIPFP & Harvard Law School India-US Symposium at New Delhi today spoke on the subject "Building of financial System of 21st Century". He said this subject is not only invigorating but also daunting. It requires one to peep into the future, identify trends that will shape systems in the coming decades and lay down the principles to address the challenges emanating from those trends. He discussed the stage of development of capital market in India and certain immutable trends that will help to shape markets in the future. He added that international institutions like "International Organisation of Securities Commission" (IOSCO), "Financial Action Task Force" (FATF) and "Financial Stability Board" (FSB) would need to constantly evolve, keeping pace with the emerging scenario in the financial sector.
Technology has shaped capital market in the past and would continue to do so in the future.
As data usage and requirements get further deepened, concerns relating to "security" of data would become even more pronounced. Accordingly, markets would have to remain vigilant and continue to adopt sophisticated cyber-security and cyber-resilience measures. Additionally, stringent data privacy requirements would have to be put in place, apart from building the necessary eco-system for encouraging applications of such technology to all areas of capital market, even while knowing that they may cause severe disruption to existing systems, players and institutions.
