The Cyber Security Working Group will be chaired by Mark Graff, chief information security officer, at Nasdaq OMX Group (>> NASDAQ OMX Group, Inc.) and vice-chaired by Jerry Perullo, who heads information security at IntercontinentalExchange Group (>> Intercontinentalexchange Group Inc).

"We are tasked with a significant goal: to build universal best practices and partner with third-parties to combat systemic cyber abuse to ensure the resiliency and strength of our capital markets," Graff said in a statement.

Around half of the world's securities exchanges were the target of cyber-attacks last year, according to a paper released in July by the World Federation of Exchanges Office and the research department of the International Organization of Securities Commissions.

The prevalence of attacks along with the interconnected nature of the markets creates the potential for widespread systemic impacts, the groups said.

In addition to developing cyber security best practices, the new committee will focus on principles such as facilitating information sharing, including threat intelligence, attack trends, and useful policies, standards and technologies, the WFE said.

The committee will also seek to open a dialogue with policy markers, regulators and government organizations on cyber threats.

Other exchanges and clearing houses with representatives in the committee include the Australian Securities Exchange, BM&F BOVESPA (>> BM&F Bovespa SA), CME Group (>> CME Group Inc), Depository Trust & Clearing Corporation, Saudi Stock Exchange, Singapore Exchange Ltd (>> Singapore Exchange Limited) SIX Swiss Exchange, and TMX Group (>> TMX Group Ltd).

(Reporting by John McCrank; Editing by Bernard Orr)

By John McCrank