Chinese bank says it has contained a hack that affected some fixed income and equities transactions
A ransomware attack on the financial services arm of China’s largest bank has disrupted the US Treasury market by forcing clients of the Industrial and Commercial Bank of China to reroute trades, market participants said on Thursday.
The Securities Industry and Financial Markets Association first told members on Wednesday that ICBC Financial Services had been hit by ransomware software, which paralyses computer systems unless a payment is made, several people familiar with the discussions said.
几位知情人士表示，美国证券业与金融市场协会(SIFMA)最早在周三告诉会员，工银金融服务有限责任公司(ICBC Financial Services)受到了勒索软件的攻击。除非付款，否则该软件会使计算机系统瘫痪。
The attack prevented ICBC FS from settling Treasury trades on behalf of other market participants, according to traders and banks, with some equity trades also affected. Market participants including hedge funds and asset managers rerouted trades because of the disruption and the attack had some effect on Treasury market liquidity, according to trading sources, but it was not impairing the market’s overall functioning.