TCS BaNCS - Market Infrastructure enables transformation through holistic solutions for
Next generation exchange clearing
Clearing organizations safeguard the overall integrity of financial markets. Their role as a central counterparty guarantee for trades is fast becoming significant. Further, as stock exchanges are consolidated, electronic trading links for cross-border trading, and the mushrooming growth of multi-lateral trading facilities (MTFs) are redefining the rules of clearing and settlement.
Clearing organizations today cater to multiple market models and wish to:
- Support vertical as well as horizontal segregation of business services
- Allow multiple asset class and market segment processing on a single platform
- Provide an agile framework for the introduction of sophisticated and new derivative products in a shorter time
- Allow CCP (Central Counterparty) services to be delivered for trades received from various trade sources
TCS is the independent provider of world-class clearing and settlement solutions today, and is uniquely positioned to help customers drive their core business and successfully implement market transformation initiatives.
The Market Infrastructure exchange clearing solution from TCS BaNCS addresses all of these requirements through:
- A single platform for clearing & settlement of multiple asset classes, including equities, debt, currencies, commodities and their derivatives
- Support for multiple market models over the same platform
- A browser-based, open, multi-entity, multi-currency solution
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TCS BaNCS for Central Securities Depositories (CSDs)
CSDs act as a vital link in helping markets achieve higher levels of STP, and in moving towards a regime of lower transaction and processing costs. New initiatives such as ‘Link Up Markets’ are facilitating efficient cross-border securities processing across markets. Interoperability between CSDs is a pre-requisite for such initiatives.
CSDs today need systems that can provide:
- Robust and guaranteed settlement services, including intra-day settlement finality
- Compliance to global messaging standards
- Seamless connectivity with participant systems and efficiency in transaction processing
- Custody services for equity and debt issues, based on flexible account structures and ownership models in line with market needs
- Specialized services such as securities lending and borrowing for managing fails, and tripartite collateral management for risk mitigation
- Harmonization in the settlement processes and deadlines, and cross-border settlement
The Market Infrastructure Central Depository solution from TCS BaNCS addresses all these requirements by offering the following advantages:
- Safekeeping of securities with support for various ownership structures, including Omnibus accounts with and without sub-account details
- Real-time and batch settlement capability, with full support for ISO15022/20022 based messaging standards
- Support for multiple asset classes over a single platform
- Embedded support for corporate actions on assets
- Provision of information services to issuers, registrars and transfer agents along with automated reconciliation mechanism for holdings and corporate action disbursements
- Securities lending and borrowing, pledge, repo and tri party collateral management services
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Market Surveillance
An efficient financial market should be fast, secure, and resilient and provide a transparent regulatory environment. Most importantly, financial institutions today are in need of agility in the form of:
- Right information, governance, incentives and culture to anticipate and drive change
- High standards of compliance, with adequate protection for investors and market participants
- Attention to differentiating volatility and market manipulative practices with business or trading rules
The Market Infrastructure Market Surveillance solution from TCS BaNCS enhances the ability of financial markets and regulators to curb market manipulation and promote market efficiency and integrity through:
- A flexible market surveillance system enabling detection of abnormal market events, followed by the ability to take necessary corrective and preventive actions
- Ability to monitor the market through a single dashboard and drill through to specific events
- Rule-based configurable system that makes it easier to track new types of events with minimal change to the software
- Alerts generation system for online and offline alerts; configurable notification of alerts through SMS and e-mail
- Detection of market manipulation patterns like market domination, wash trades, corner and squeeze, price manipulation, painting the tape or marking, insider trading, front running, collusion, among others
- Tracking of price history and charts
- Tracking of historical member performance such as trading activity, margin defaults, settlement defaults
- Tracking of market events and news and correlation with market movements
- Client profiling and relationship detection
- Case management for an alert, or group of alerts, with the capability to attach documentation to cases
- Market replay for a time period, specific instrument or multiple instruments.
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Registrar & Transfer Agency (RTA) Services
The transfer agent recordkeeping system is the foundation of an investor's relationship with a company or mutual fund, and in turn a reflection of the ownership of companies. The data on statements sent to direct investors in equity and fund instruments comes primarily from the RTA system. The RTA system computes and stores balances, transactions, dividends and capital gains with which other systems have to reconcile their data. RTA systems are essential to support large value assets and huge number of accounts in the equity and mutual fund processing industry.
The Market Infrastructure RTA services solution from TCS BaNCS recognizes the varied needs of businesses in a changing market situation and provides a one-stop shop for all shareholder and mutual fund holder back-office services for both retail and institutional clients. It supports end-to-end requirements of investors, promoters, distributors, custodians, paying agents, fund administrators and regulators by managing the complex process of shareholder record keeping, fund distribution and transfer agency functionality. It also provides:
- Marketing and literature management and agent information
- Use of efficient document scanning and workflow tools
- Multi-currency, multi-jurisdictional and multi-lingual support
- Seamless integration with depository, clearing and settlement functions
- New issue management
- AGM meeting handling with state of the art tools
- Ready interfaces to third-party solutions.
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To know how TCS BaNCS can provide efficient market infrastructure solutions in a changing market environment, write to us at tcs.bancs@tcs.com
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