Iraq Stock Exchange: Protecting its online trading platform with advanced security controls and analytics
Company Size
1,000+
Region
- Middle East
Country
- Iraq
Product
- IBM QRadar SIEM
- IBM Security Guardium Data Activity Monitor
Tech Stack
- Database Monitoring
- Security Analytics
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Customer Satisfaction
Technology Category
- Cybersecurity & Privacy - Database Security
- Cybersecurity & Privacy - Network Security
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Fraud Detection
- Regulatory Compliance Monitoring
Services
- Cybersecurity Services
- System Integration
About The Customer
The Iraq Stock Exchange (ISX), headquartered in Baghdad, was established in 2004. Since its inception, it has grown substantially, listing more than 90 companies and supporting trading for over 50,000 investors. Approximately 20 percent of all trades on the ISX are from foreign investors. The ISX is a significant player in the financial sector of Iraq and plays a crucial role in the country's economy. The security of its online trading platform is of paramount importance to maintain investor confidence and ensure the smooth operation of the exchange.
The Challenge
The Iraq Stock Exchange (ISX) was facing a significant challenge in maintaining the security of its online trading platform. The ISX needed comprehensive database monitoring and greater visibility across its online trading infrastructure to rapidly detect security threats and protect online trades. The existing manual security monitoring processes were not sufficient to meet these needs. The ISX needed a solution that could provide near-real-time visibility into database activity and its infrastructure, and use sophisticated sense analytics to baseline normal behavior, detect anomalies, and uncover threats.
The Solution
To address its security challenges, the ISX worked with Computer Business Machines to implement an integrated security solution from IBM. The solution included IBM QRadar SIEM and IBM Security Guardium Data Activity Monitor (now called IBM Security Guardium Data Protection for Databases). These tools replaced the manual security monitoring processes, providing near-real-time visibility into database activity and the ISX's infrastructure. The solution used sophisticated sense analytics to establish a baseline of normal behavior, detect anomalies, and uncover threats. This comprehensive security solution strengthened the ISX's security and compliance capabilities, enabling the expansion of its online trading platform.
Operational Impact
Quantitative Benefit
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