Mumbai: IT Major, Tata Consultancy Services (TCS) today said that TMX Group awarded TCS, the implementation of a single, integrated technology...
Mumbai: IT Major, Tata Consultancy Services (TCS) today said that TMX Group awarded TCS, the implementation of a single, integrated technology platform for Canada's clearing and settlement businesses.
The innovative platform, called TCS BaNCS for Market Infrastructure, will replace the legacy systems deployed by The Canadian Depository for Securities Limited (CDS) and Canadian Derivatives Clearing Corporation (CDCC), subject to regulatory approval where required.
Technology integration across TMX Group's cash and derivatives clearing businesses is the next significant step in the company's evolution as a premier client-driven solutions provider to the Canadian and global capital markets.
In August 2016, CDS and CDCC began an initiative to align, simplify and integrate risk management tools, operations, systems and business development functions to become more responsive and adaptive in serving client needs.
This new solution will enable TMX to deliver a more seamless client experience between the two clearing houses and provide rich browser-based access and straight-through processing using industry standard messaging through ISO 15022, ISO 20022, FIX and FIXML.