KELER Ltd., the Hungarian CSD, selects TCS BaNCS for platform modernization and T2S settlement

Mumbai | Budapest, November 26, 2013: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, announced, today, that Keler Ltd., Hungary’s Central Securities Depository, has selected the Market Infrastructure solution of TCS BaNCS to modernize its technology and set up its capability for T2S settlement. The TCS BaNCS solution will provide KELER with a modern, standards compliant, multi-asset, multi-entity solution that will enable KELER to quickly introduce new products and services to its market participants and engage with its stakeholders better through faster reporting and communication.

Commenting on the selection, Gyorgy Dudas, CEO, Keler Ltd., said, “We are excited that with this deployment we will be ushering our depository into a unique position in the Central and Eastern European market landscape. This opens up new avenues for us as we enhance our capabilities and offerings and be on time for T2S settlement as well.”

The Market Infrastructure solution of TCS BaNCS is a proven multi-asset class, multi-entity platform, which will enable KELER to modernize the Hungarian post-trade space with improved services to its depository participants, custodians and cash settlement banks both in domestic and cross border markets. KELER will also leverage the standard set of interfaces of TCS BaNCS for interacting with the T2S platform. R Vivekanand, Vice President, TCS, said, “Hungary is an important market for us. We are eager to demonstrate our Market Infrastructure and T2S capability there and expand our track record in the European CSD space. It is a great opportunity to be part of Keler’s vision to herald a new era in the Hungarian capital market.”

About KELER Ltd.

KELER Ltd., founded in 1993, is owned by the Central Bank of Hungary and the Budapest Stock Exchange. Together with KELER CCP Ltd. they form the infrastructure that facilitates the seamless operation of the domestic capital and energy markets.

As the sole central securities depository in the Hungarian capital market KELER provides the infrastructure for the issuance and serves as notary for Hungarian securities. KELER also offers local and global post-trade services to both Hungarian and international clients, including settlement, fails management, asset servicing, collateral management, securities lending, liquidity and funds order routing solutions. KELER Ltd. has signed up with the European Central Bank to become a direct T2S participant and will offer its customers a unique service to settle securities transactions in this new, safe and cost-efficient environment.

KELER today services clients from 18 countries across Europe.

About TCS Financial Solutions

TCS Financial Solutions is a strategic business unit of TCS. Dedicated to providing business application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BaNCS. Our mission is to provide best–of-breed solutions that drive growth, reduce costs, mitigate risk and offer a faster speed-to-market for our clients. With a global customer base of more than 280 institutions operating in over 80 countries, TCS Financial Solutions deliver state-of-the-art software solutions for the banking, insurance and capital markets industries worldwide. For more information, visit us at www.tcs.com/bancs.

ABOUT TATA CONSULTANCY SERVICES (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 56 years. Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 601,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $29 billion in the fiscal year ended March 31, 2024, and is listed on the BSE and the NSE in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com

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KELER Ltd., the Hungarian CSD, selects TCS BaNCS for platform modernization and T2S settlement

About KELER Ltd.

About TCS Financial Solutions

ABOUT TATA CONSULTANCY SERVICES (TCS)

TCS media contacts

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Where adaptability meets advantage

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Find the latest news about TCS in our Newsroom

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TCS works hand in hand with world-leading investors.

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About KELER Ltd.

About TCS Financial Solutions

ABOUT TATA CONSULTANCY SERVICES (TCS)

TCS media contacts

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Latin America

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