The International Financial Services Centres Authority (IFSCA) on November 25, 2025, issued a consultation paper on draft Guidelines on Cyber Security and Cyber Resilience for the Market Infrastructure Institutions (MIIs) in IFSC.
The following has been stated:
• These draft MII-specific guidelines build on IFSCA’s earlier, principle-based ‘Guidelines on Cyber Security and Cyber Resilience for Regulated Entities in IFSCs’.
• They reflect global best practice and the PFMI (CPMI-IOSCO) requirements — especially Principle 17 on operational risk, which mandates identification and mitigation of internal and external operational risks and robust business continuity arrangements.
• MIIs (stock exchanges, bullion exchange, clearing corporations, depository) are highly interconnected; cyber incidents at MIIs could threaten market integrity and financial stability.
• Therefore, a differentiated and elevated baseline of cybersecurity and resilience is considered necessary for MIIs in IFSCs.
• The detailed draft guidelines are provided as Annexure A to the consultation paper.
• Stakeholders are invited to submit comments/views on the draft guidelines.
• Send comments by email to: Primary: [email protected] (Shri Praveen Kamat, GM & CISO) and a Copy: [email protected]
• Use the subject line: “Comments on the Guidelines on Cyber Security and Cyber Resilience for the Market Infrastructure Institutions (MIIs) in IFSCs”.
• The comments must be received by December 16, 2025.
• Please refer to the document attached below for more details.
