(Bloomberg) -- The National Cyber Security Center, part of UK intelligence agency Government Communications Headquarters, is part of the growing number of government bodies examining the cyberattack on ION Trading UK.
The NCSC joins the Financial Conduct Authority, the Prudential Regulation Authority and the US Federal Bureau of Investigation in seeking information about the incident, according to people familiar with the matter, who aren’t authorized to speak publicly.
ION, a little known but critically important software company that underpins the smooth functioning of stock, bond and commodities markets, started to seize up on Tuesday. Bloomberg News reported on Wednesday that Russian ransomware gang LockBit was behind the incident.
Rebecca Thorpe, CEO at regulatory consultancy Bovill, said the Bank of England will want to see that firms have robust plans to deliver essential services during disruption including cyberattacks.
Firms should define and set impact tolerances and ensure they can remain within them through testing, including simulated cyberattacks provided through the BOE, she said.
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