Abu Dhabi Securities Exchange (ADX) today announced the signature of a Memorandum of Understanding (MoU) with the Telecommunications Regulatory Authority (TRA), represented by the United Arab Emirates Computer Emergency Response Team (aeCERT) aiming at enhancing the exchange’s information security over the electronic network.
The MoU sets a secure framework for the information provided and shared through ADX and includes consultation and security awareness training for ADX’s staff, as well as advisory services by aeCERT for security incidents including overseas security breaches capitalizing on TRA’s international network.
“TRA will help us through the aeCERT team to better monitor the security and safety of our information database, and this move comes within the framework of ADX’s commitment to the Abu Dhabi government’s Initiative for Information Security, which comes as one of our top priorities,” commented Rashed A Al Baloushi, ADX’s Deputy Chief Executive.
Mohamed Nasser Al Ghanim, TRA’s Director General added that “TRA is seeking by this agreement to provide for a safer electronic environment for the parties concerned, as it comes in tandem with the purpose from establishing the aeCERT team.”
aeCERT aims at providing ADX with a comprehensive protection scheme for information against the risks associated with the electronic network, while maintaining the safety of the information infrastructure and data confidentiality.
“Data security is a top priority for ADX, and it is always imperative for us to ensure our stakeholders and investors of our integrity and efficiency in handling the sensitive information related to the financial market and the variety of related transactions,” explained Ghanem Al Dhaheri, ADX’s Head of Information Technology.
The MoU does not have a finite timeframe, and has no contractual obligations for both parties, though it opens the door for further collaboration within the data protection security field.