The Inter-connected Stock Exchange of India (ISE) today selected Tata Consultancy Services (TCS) to install and manage its integrated trading, clearing and surveillance platform, a statement from the exchange said today.
TCS Financial Solutions is a strategic business unit of TCS dedicated to providing business application solutions to the banking, insurance and capital market players.
The ISE, in the process of reviving its operations, has selected the TCS' BaNCS market infrastructure suite, which will be implemented to revive ISE operations for the equity cash segment in the first phase, with the possibility of supporting the derivatives segment later.
"Our selection of the TCS BaNCS market infrastructure solution is an end-to-end solution for us, encompassing trading, clearing and settlement, surveillance and real-time risk management," ISE Managing Director P J Mathew said here.
"We are confident that the state-of-the-art solution and TCS expertise in this space will help us launch the exchange smoothly," Mathew added.
TCS Financial Solutions Global Head (Market Infrastructure) R Vivekanand said, "TCS BaNCS is a leader in the post-trade market infrastructure space. We are now expanding our offering in the market infrastructure value chain by launching our new Java-based exchange trading and market surveillance platforms, with the latest technology, high performance and low latency."
