To protect the securities market from cyber threats, regulator Sebi has asked stock exchanges and other key entities to put in place necessary framework to safeguard systems, networks and databases from such attacks. Asking all exchanges, clearing corporations and depositories to implement necessary changes within six months,Sebi said these Market Infrastructure Institutions (MIIs) need to have a robust cyber security framework to provide essential facilities and perform systemically critical functions of trading, clearing and settlement in securities market.Identifying cyber crime as a major threat, Sebi Chairman U K Sinha recently said such attacks are occurring these days in a more sophisticated manner while he also raised concerns about the state-sponsored cyber attacks from abroad. In its circular, Sebi also asked MIIs to restrict access controls, whenever necessary. The exchanges and other MIIs would also have to submit quarterly reports to Sebi, containing information on cyber attacks and threats experienced by them and measures taken to mitigate vulnerabilities, threats and attacks including information on bugs, vulnerabilities and threats that may be useful for other MIIs. Sebi also asked the MIIs to share the useful details among themselves "in masked and anonymous manner" using a mechanism to be specified by the regulator from time to time.