TMX picks TCS platform for clearing and settlement businesses

  • Reuters
  • Stock Market News
TMX picks TCS platform for clearing and settlement businesses
Credit: © Reuters.

June 27 (Reuters) - TMX Group Ltd X.TO , Canada's biggest stock exchange operator, said on Tuesday it had chosen India's Tata Consultancy Services TCS.NS to implement a single integrated platform for Canada's clearing and settlement businesses.

The platform, called TCS BaNCS, will replace legacy systems at Canadian Depository for Securities Ltd (CDS) and Canadian Derivatives Clearing Corp (CDCC) - two of the clearing houses that TMX operates. development is part of an initiative, started in August last year, to improve CDS and CDCC's businesses, TMX said.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100

Related Articles