Asset servicing technology news | India’s MCX picks TCS for technology revamp and post-trade services
The ?Multi Commodity Exchange India (MCX) has selected Tata Consultancy Services (TCS) to build its new?technology?core and grow its commodity derivatives market in India.
TCS was selected as part of MCX’s growth project, Udaan, and will design and deploy a?solution that?utilises ?the ?Deutsche? Boerse?T7? trading platform from Deutsche Boerse to enable higher levels of trading.
Post-trade activities such as clearing, risk management, delivery and settlement will also be enhanced using TCS BaNCS.
TCS BaNCS’ clearing capabilities, ?along with integrated real-time risk management?and position monitoring, coupled with its?collateral?and delivery?management?and settlement function,?will?help MCX in meeting its current and future business needs, the exchange says.?
The solution, which enables global messaging standards for central securities depositories…