TCS, Asia's largest software and services company, announced today that its leading international custodial and corporate event processing product, NCS, has received the prestigious SWIFTReady 2003 Gold certification for securities custody and settlement.
There is a clear and specific set of criteria linked to the Silver and Gold label awarded by SWIFT. Gold Label, the highest accreditation given by SWIFT, demonstrates that NCS can be implemented in a full SWIFT business environment.
"The SWIFTReady Gold certification for NCS is testament to the value and quality of our solution," said N. G. Subramaniam, vice president and head of TCS's banking industry practice. "This certification and the successful deployment of our products globally demonstrate TCS's capability to deliver strategic solutions to the key challenges faced by leading financial firms today."
NCS, which was recently declared the No 1 corporate event-processing system for custodians by B.I.S.S. - 2003 CA, the first 'corporate actions benchmarking' event, is crafted to meet the existing and evolving needs of global and local custodians, investment mangers, depositories and broker-dealers.
NCS has been built using object-oriented methodology, client-server architecture and open-system standards. It provides for a high degree of automation for multifarious custodial activities such as trade settlement, corporate-action administration, registration of securities, claims and rejections, securities borrowing and lending, custody and depository management, and charges and taxes. It fulfills the need of business and industry for a solution that supports the unprecedented increase in business volumes with minimum operational resources.