TCS BaNCStrade; to power NSE IFSC-SGX Connect

22 Mar 2022 , 01:33 AM

Tata Consultancy Services announced that TCS BaNCS has been selected by Singapore Exchange SGX to power the NSE IFSCSGX Connect Gift Connect its program to connect to NSE IFSC a fully owned subsidiary of the National Stock Exchange of India NSE for trade execution and clearing of Nifty products on behalf of its members in Singapore and globally To enable international access to Indian capital markets and create a larger liquidity pool of international and domestic participants SGX has set up SGX India Connect IFSC a special purpose vehicle at Gujarat International Finance Tec-City Gift City a special economic zone in Gandhinagar India SGX selected TCS BaNCS for its multi-broker low latency capabilities to serve as the end-to-end solution for its trading clearing settlement and risk management operations The Gift Connect will allow SGX members to place orders on NSE IFSC using FIXproprietary APIs or through the TCS BaNCS dealing terminal The solutions clearing and settlement module will interact with the clearing arms of NSE IFSC and SGX for position and limits management while also performing all regulatory compliance functions Using TCS BaNCS risk management module SGX and SGX brokers can define risk rules and profiles monitor and control trading activities