Industry giants Microsoft, Oracle, Intel and others have set up a computer security monitoring alliance designed to co-ordinate efforts to combat cybercrime.

The Information Sharing and Analysis Centre (ISAC), which will be launched today, has been created in response to US president Bill Clinton's Presidential Decision Directive 63 on critical infrastructure protection. This encourages industry sectors to share information about security threats and vulnerabilities.

The formation of ISAC has been co-ordinated by the US Information Technology Association of America. Other members include KPMG and Computer Associates.

IT industry executives announced their intention to create the group at a meeting with President Clinton in February last year.