During last Sibos, TCS Financial Solutions, the business unit of Tata Consultancy Services (TCS), dedicated to providing business application solutions to the banking, insurance and capital markets industries, announced that it 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 BαNCS 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 solution will enable seamless integration among the CSDs, shielding them from differences in communication protocols and proprietary message standards. As a result the solution can be implemented swiftly, offering minimal adaptations for the participating CSDs.

Michael Jaeggi, Member of the Executive Board of Clearstream Services S.A. said “Link Up Markets is an innovative joint venture for which time to market is crucial. 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.” Yves Baguet Member of the Executive Board of Clearstream Services S.A. said: “We are confident that the combination of the TCS BαNCS product running on Clearstream’s state of the art IT technical infrastructure that we operate is a powerful asset for Link Up Markets.”

Yves Baguet, Member of the Executive Board of Clearstream Services S.A.

“Improving the efficiency of cross-border services, and reducing the costs of post-trade processing in Europe is an exciting challenge for all stakeholders”, said N. Ganapathy Subramaniam, President, TCS Financial Solutions. “Our team is proud to assist customers like Clearstream Services S.A. to develop strong partnerships between Central Securities Depository markets throughout Europe.”

TCS BαNCS Service Integrator is a flexible and extensible java based integration platform that enables seamless integration among various applications, TCS BαNCS and Standard Messaging Networks and market data feeds. The solution supports integration through Messages, Files and Web Services over the industry standard protocols providing high STP rates for high volume trading. The solution has inbuilt configuration-driven readymade adaptors to integrate with Networks such as SWIFT, FIX and Feeds such as Reuters, Bloomberg, thus saving time and cost and reducing risks.

TCS BαNCS Corporate Actions is an industry-leading solution that enables enterprise-wide corporate actions automation. It takes controls of the entire lifecycle of corporate actions processing thus mitigating operational risks and improving overall efficiency with high levels of STP and effective workflow management. It implements a common processing framework supporting a full range of event types, and has a comprehensive operations dashboard, presenting various operation metrics and alerts for critical events and breaks.