TCS wins deal to revamp Australian Stock Exchange’s platform

Tata Consultancy Services (TCS) has signed an agreement with Australia’s primary securities exchange, ASX. Under the deal, the Indian IT giant will provide next-generation clearing and settlement platforms to the Australian market. ASX will implement TCS BaNCS for market infrastructure to enable the transformation.

TCS to rebuild software after ASX’s earlier flop

The TCS product will be used to replace ASX’s existing platform for cash equities clearing and settlement, TCS said in a statement. The new platform will be on a state-of-the-art technology stack with TCS BaNCS for Market Infrastructure and is proposed to be implemented in two releases.