New Zealand Stock Exchange selects TCS BαNCS Market Infrastructure Solution

TCS Financial Solutions, the strategic business unit of Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NS) dedicated to providing business application solutions to the banking, insurance and capital markets industries, today announced that its TCS BαNCS Market Infrastructure solution has been chosen by the New Zealand Stock Exchange (NZX). TCS BαNCS Market Infrastructure provides multientity,

Editorial Team
October 1, 2007
2 minutes

Tagged under:
BankingTech
InsurTech

TCS BαNCS Market Infrastructure provides multientity, multilingual support to Depository and Clearing institutions with comprehensive functionality across Equity, Fixed Income, Commodities and Derivatives asset classes. This product offers complete functional coverage across technology platforms and delivery channels. TCS BαNCS Market Infrastructure is fully compliant with international standards from the G30 and the Bank of International Settlements. In addition, the solution complies with global standards such as ISIN and ISO 15022 ensuring continuous adherence to global best practices.

NZX selected TCS BαNCS Market Infrastructure based on its ability to assist NZX to maximize its efficiency and to offer Integrated Exchange Clearing, Registry and Depository services for Equity, Fixed Income and Derivatives instruments.

“NZX prides itself on innovation and with TCS BαNCS Market Infrastructure we will be able to provide a rock solid proven platform for New Zealand’s current equity & planned derivatives markets. With TCS BαNCS Market Infrastructure we will be able to pursue a wide range of new product development initiatives like our integrated Emission Registry,” stated Stuart Turner, Head of Strategy and Projects at NZX. “TCS BαNCS Market Infrastructure will also provide our group with increased flexibility and a lower total cost of ownership.”

Mr. N. G. Subramaniam, President, TCS Financial Solutions, comments: “TCS BαNCS Market Infrastructure is an established solution leader for Depositories and Clearing organizations. It is unique in providing Depository, Registry and Clearing services in a single solution, which is ideal for markets like New Zealand where these functions are vertically integrated in the stock exchange. NZX will also benefit significantly from the flexibility of the solution since it will give them the agility to introduce products quickly.”