The Multi Commodity Exchange India Ltd (MCX), India’s largest commodity exchange, has selected TCS as the technology solution provider for its growth and transformation journey. As part of MCX’s Project Udaan (Hindi for “flight”), TCS will help MCX build a new technology core, transforming its trading as well as post-trade functions to support its future growth and further strengthen its leadership position in the commodity derivatives market in India.
Further, TCS BaNCS’ APIs and support for global messaging standards will enable easy integration with various participants, sub-systems and ecosystems. Compliant with global regulatory standards, TCS BaNCS will help MCX meet current and future regulatory standards including emerging regulations around client level collateralization. Additionally, TCS will implement TCS BaNCS for Securities Trading™ for MCX’s trading members, providing them a modern, fast, intuitive user interface and real time market data feed for trading and post trade activities. Find out how TCS BaNCS for Market Infrastructure transformed MCX’s IT landscape.