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Updated December 18th, 2023 at 13:53 IST

TCS collaborates with Swiss operator to modernise post trade platform

The open system processes more than 4 million transactions per day, covering more than 60 global markets, TCS said in a statement.

Reported by: Business Desk
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TCS 'cash for jobs' scam | Image:Tata Consultancy Services
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The country’s largest IT services company, Tata Consultancy Services (TCS), has partnered with Swiss and Spanish financial market operator SIX to modernise their post trade market infrastructure, the company said on Monday.

TCS worked with other technology providers and SIX to design a transformation strategy and open systems environment, leveraging their design labs for SIX to respond to end-client queries faster.

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The open system processes more than 4 million transactions per day, covering more than 60 global markets, TCS said in a statement.

The Tata technology major also used an ingenious automation solution, migrated over 500 billion records, which saved 4-5 months in the overall process.

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SIX Head of IT and Securities Services, Arturo Merino said they have achieved customer-centricity and user-friendliness with the platform upgrade.

Uma Rijhwani, Business Unit Head, BFSI – Europe Central, TCS, said, “TCS and SIX have achieved a major feat by modernising the Swiss post trade platform of SIX in record time. The new, state-of-the-art system brings to bear the power of digital technologies to transform the Swiss post-trade market infrastructure, while providing a solid foundation for SIX’ expansion into global markets.”

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TCS is present in 53 locations across Europe over the four decades it has been present in the region.

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Published December 18th, 2023 at 13:43 IST

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