TCS updates SIX’s post-trade platform for Swiss market

MUMBAI, INDIA – Tata Consultancy Services Ltd. (TCS) has partnered with financial market infrastructure operator SIX to modernize the latter’s post-trade platform for the Swiss market.

SIX’s software has been updated for better flexibility and customization. This will equip SIX to meet the surging and diverse demands of their clients across the globe. Specifically, TCS has produced a modern portal allowing SIX to respond to end-client queries quickly.

Since the system is now equipped with cloud capabilities, it can seamlessly integrate into global digital ecosystems, setting the company up for growth opportunities. The updated system also boasts tighter security and ease of maintenance.

The BFSI – Europe Central business unit head at TCS, Uma Rijhwani, said the collaboration is a victory for both companies.

“The new, state-of-the-art system brings to bear the power of digital technologies to transform the Swiss post-trade market infrastructure, while providing a solid foundation for SIX’ expansion into global markets,” Rijhwani said.

The partnership dates back to the 1990s. SIX’s core platform was built by TCS, and is considered one of the world’s first online real-time settlement systems. Now, SIX’s platform processes over 4 million daily transactions across more than 60 global markets. 

Following TCS’s announcement of its partnership with the Switzerland-based firm which is also the operator of Spanish financial market infrastructures, its shares rose to a 52-week high of ₹3,929 (US$ 47.29) apiece on Monday, December 18.