Last Updated : Sunday, December 15, 2019 13:35:36

South African Depository Consolidates All Operations on to TCS BaNCS™

JOHANNESBURG (SOUTH AFRICA) | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory update submitted to the Indian Stock Exchanges, Mumbai headquartered Indian Conglomerate Tata Group’s information technology arm Tata Consultancy Services Ltd said of South African Depository having consolidated all its operations on to TCS BaNCS™ for market infrastructure.

In a press-release as submitted by the company to the Indian Bourses, titled – “South African Depository Consolidates All Operations on to TCS BaNCS™ for Market lnfrastructure,” further read that Tata Consultancy Services’ Award-winning Product Powers Strate’s Operations Across Markets and Asset Classes; Marks Significant Transformation in South African Market.


The press-release in details read that, Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global lT services, consulting and business solutions organization, has successfully deployed the TCS BaNCS™ for Market lnfrastructure product for Strate Pty Ltd, the Central Securities
Depository (CSD) for the electronic settlement of financial instruments in South Africa, across five exchanges.

The implementation covers all markets and asset classes and marks a significant transformation in the South African securities market.

A key objective for Strate was to modernize its technology stack to support its growth and transformation objectives to serve the South African financial markets.

Additionally, the CSD aspired to consolidate the different systems catering to various asset classes onto an integrated platform that would provide market participants with a single digital access point to enable effective and efficient processing.


TCS BaNCS™ for Market lnfrastructure was selected because of its integrated, state-of-the-art clearing and settlement platform that operates across markets and asset classes.

The TCS BaNCS™ implementation at Strate supports the full suite of CSD functions and is aligned to industry standards such as ISO 150022 and ISO 20022, making it one of the most contemporary, efficient, and STP-based CSD solutions in the world. While harmonizing processes and standards, it offers Strate the opportunity to customize settlement models to the individual exchanges.

The CSD now benefits from real-time clearing, real-time settlement and netted settlement in accordance with all BIS models.

With faster settlements, market participants are benefitting from improved liquidity and operational efficiencies.

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