KELER, Hungarian CSD, Selects TCS BaNCS for Platform Modernisation
OREANDA-NEWS. Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions organisation, announced today that KELER, Hungary's central securities depository, has selected the market infrastructure solution of TCS BaNCS for modernising its technology and to set up capability for T2S settlement. The TCS BaNCS solution will provide KELER with a modern, standards-compliant, multi-asset, multi-entity solution that will enable KELER to quickly introduce new products and services to its market participants and better engage with its stakeholders through faster reporting and communication.
Commenting on the selection, Gyorgy Dudas, the CEO of KELER, said, “We are excited that with this deployment we will be ushering our depository into a unique position in the Central and Eastern European market landscape. This opens up new avenues for us as we enhance our capabilities and offerings and be on time for T2S settlement as well.”
The market infrastructure solution of TCS BaNCS is a proven multi-asset class, multi-entity platform which will enable KELER to modernise the Hungarian post trade space with improved services to its depository participants, custodians and cash settlement banks, both in domestic and cross-border markets. KELER will also leverage the standard set of interfaces of TCS BaNCS for interacting with the T2S platform. R Vivekanand, vice president, TCS, said, “Hungary is an important market for us. We are eager to demonstrate our market infrastructure and T2S capability there, and to expand our track record in the European CSD space. It is a great opportunity to be part of KELER's vision to herald a new era in the Hungarian capital market.”