TCS Financial Solutions, the strategic business unit of Tata Consultancy Services (TCS), dedicated to providing business application to the banking, insurance and capital markets industries, has been selected as technology partner by Clearstream Services S.A to support the development of the IT infrastructure for Link Up Markets.
While acting as operator for Link Up Markets, Clearstream Services S.A. will use the TCS BNCS product suite (Service Integrator and Corporate Actions) for transforming and routing transactions and assuring the efficient exchange of information between the participating central securities depositories (CSDs). The software will enable integration among the CSDs, shielding them from differences in communication protocols and proprietary message standards. As a result the technology can be implemented swiftly, offering minimal adaptations for the participating CSDs.
“Link Up Markets is an innovative joint venture for which time to market is crucial,” says Michael Jaeggi, member of the executive board of Clearstream Services S.A. “We find a strong partner in TCS Financial Solutions because they possess a truly wide set of proven products and share a good track record of working together.”
“We are confident that the combination of the TCS BNCS product running on Clearstreams state of the art IT technical infrastructure that we operate is a powerful asset for Link Up Markets,” says Yves Baguet, member of the executive board of Clearstream Services S.A.
D.C.