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How FYERS continues with its stockbroking operations in times of COVID-19

In stockbroking, uptime is one of the most crucial requirements, hence a BCP was in place even before the onset of the COVID-19 lockdown. Additional measures were undertaken to ensure work from home without any challenges and disruptions. EC speaks with Yashas Khoday, CTO & Cofounder, FYERS

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Yashas Khoday, CTO & Cofounder, FYERS

How was the BCP plan activated ?
In stockbroking, uptime is one of the most crucial requirements, hence we had a BCP in place even before the onset of the COVID-19 lockdown. We undertook additional measures to ensure that our team could work from home without any challenges and disruptions. 

In terms of VPN availability, most of our internal applications which do not contain sensitive information were accessible securely over the web. But access to critical applications which contain sensitive information are well protected and access has been enabled only via VPN and Virtual Desktop Instances (VDIs). We have implemented zero-trust policies and access to VPN and VDIs are provided on an as-needed basis.

We have enabled centralized authentication for users of our internal email, chat, voice and video communications, which have been enabled on the cloud. But in order to ensure secured access to these applications, we have implemented policies such as:

  • Multi-Factor Authentication
  • Alerts in case of logins from a new device

We have been using some of the best known and well-reputed cloud-based applications for internal messaging, voice & video communication. Bandwidth has never been a concern as these applications consume minimum bandwidth. The only time network consumption is increased is during video calls. 

We use Google Chat, Google Hangouts Meet, and Slack for our internal communication

In a WFH scenario, what kind of content can be shared?
We have strong Data Loss Prevention (DLP) solution, which has been implemented, to prevent users from sharing any files which contain sensitive information. For internal purposes, we use a cloud-based storage solution which takes care of internal collaborations which further reduces the requirements of sharing files via emails.

Your BCP plan is as per recommendations of which industry body / international convention, etc.
We are compliant as per SEBI’s Cyber Security Framework and we closely follow the recommendations of the ISO 27001 standards.

How will employee attendance be posted in the system?
We have an internal HR Management System. Users are asked to login to the system as per their regular shift timings and are requested to logout once they have completed their shift. The software calculates based on the time that they are logged in.

For the backend – are you more reliant on public cloud?
Yes, we use a Hybrid setup which comprises of physical infrastructure as well as public cloud. We have always believed in the power of cloud computing as it gives the ability to scale, based on the requirement rather than binding ourselves to physical infrastructure which is difficult to scale quickly.

Please discuss some of the other initiatives, recently launched and to be launched ?
We recently launched FYERS TradingView Widgets. Leveraging the power of analytics, FYERS TradingView Widgets offers – Fundamental Widgets, Technical Analysis Widget and an Economic Calendar. This was done to offer traders a quick overview of company metrics like – valuations, balance sheet details, operating metrics, margins, stock profile, on the platform, which will allow them to trade effectively.

Furthermore, this feature allows traders to determine the technical strength or weakness of stocks, across different time frames. The Technical Analysis Widget, categorizes stocks into Strong Buy/Buy/Neutral/Sell/Strong Sell categories based on the results of 28 different indicators. And, the Economic Calendar will help traders track market volatility, arising from macroeconomic developments.

If you have an interesting article / experience / case study to share, please get in touch with us at [email protected]


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