TCS and Euroclear Team Up for Cutting-Edge Post-Trade Platform

23 Jan 2024 , 12:26 PM

The National Central Securities Depository (CSD) of Finland, Euroclear Finland, is now able to integrate its main platform with the European securities settlement engine thanks to a partnership with Tata Consultancy Services (TCS).

According to the news release, the updated platform will lower investor risks and expenses associated with cross-border settlement, draw more capital into the nation, and facilitate Finnish issuers’ access to finance. Extended trading hours will be advantageous for issuers, banks, and central counterparties. Additionally, banks can enhance their liquidity, manage collateral, and facilitate transactions in all 24 countries within the T2S ecosystem with a single centralized cash account.

‘TCS is proud to have partnered with Euroclear Finland to create a flexible, scalable, secure, and robust platform for the future growth and development of the Finnish market,’ stated Vivekanand Ramgopal, President of BFSI Products & Platforms at TCS. TCS BaNCS has been the driving force behind Euroclear Finland’s ten-year business transformation journey, and we are thrilled to celebrate this most recent milestone of their seamless integration with T2S.

The expansion and profitability of the Finnish market depend on connecting to T2S, according to Hanna Vainio, CEO of Euroclear Finland. Finland will become a desirable location for issuers and investors as a result of our clients’ increased access to investment opportunities and more effective procedures. We are happy to have partnered with TCS in our business and IT transformation journey, building one of the most cutting-edge and effective CSD systems in Europe, with our core platform built on TCS BaNCS for Market Infrastructure. 

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