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Solution to enable flexible infrastructure, enhance efficiency, controls and reduce costs of trading
Mumbai, April 28, 2009: Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NI), a leading global IT services and consulting firm, announced today that TCS BaNCS Securities Trading has been certified on the Thomson Reuters Order Routing Network. Currently this certification is relevant to the GCC (Gulf Cooperation Council) region and will be subsequently expanded to other markets around the world.
On the Buy side, the solution will enable investment firms to route orders to Partner Brokers and Exchanges thereby extending their reach to multiple markets and pools of liquidity. The solution is also certified for the Sell side - allowing firms to act as local execution partners, receiving orders from other firms on the network, including users of Reuters Trading for Exchanges, and then executing these orders on their local markets.
In working closely with TCS, this move extends Thomson Reuters integration with a variety of systems, to one of the leading vendors in the region. The integration will allow users of TCS BaNCS system to create trading relationships to send and receive order flow from the joint global community of the Thomson Reuters Order Routing Network and the Tradeweb Routing Network, comprising over 1,500 participants worldwide and processing in excess if 1.5 billion shares per day.
Commenting on the partnership, N. Ganapathy Subramaniam said “We are constantly exploring avenues to reinforce our value promise of enhancing certainty through our portfolio of products and services. As a result of this partnership we enable better access to a broker neutral network and maximize liquidity on the buy side, and on the sell side brokers can attract order flow from a much wider variety of sources.”
“The ability for financial institutions to connect with liquidity pools across the globe is vital in today’s electronic marketplace. The powerful combination of TCS BaNCS platform and the unparalleled size of the Thomson Reuters Order Routing Network, which includes some of the world’s largest and most prestigious financial houses, will give our clients the global reach they need.” said Mehdi Bilgrami, Thomson Reuters Head of Exchange Traded Instruments, Middle East and Africa.
About TCS BaNCS Securities Trading
TCS BaNCS Securities Trading solution provides a comprehensive order, execution management and trading platform for both institutional and retail focused broker-dealers. The system offers seamless integration of trading and risk management and supports various markets, asset classes, languages and currencies. The business application connects with several liquidity destinations for order execution and interfaces with market data vendors for data capture, low-latency streaming, and display of Level 1 and Level 2 quotes from multiple markets.
About 3000Xtra and Reuters Trading for Exchanges (RTEX)
3000Xtra is the Thomson Reuters flagship desktop product, providing financial professionals comprehensive coverage of the worlds markets including real time information from all major equity markets, funds, indices and money markets. Thomson Reuters also offers broad trading capabilities for listed instruments as well as FX and money markets. RTEX is a comprehensive electronic trading solution for financial institutions around the world dealing in exchange traded markets providing a fully hosted multi-asset class trading suite integrated with the Thomson Reuters information desktop, providing access to the largest global community of executing brokers. In addition, customers can access data on Sukuk bonds, Islamic loans and other Islamic instruments, plus strong regional news coverage including an Arabic news service.
About TCS Financial Solutions
TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. 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 BαNCS. Our mission is to provide best of breed solutions that will drive growth, reduce costs, mitigate risk and offer a faster speed to market for our clients. With a global customer base of more than 240 institutions operating in over 80 countries, TCS Financial Solutions delivers state-of-the-art software solutions for the banking, insurance and capital markets industries worldwide.
About Tata Consultancy Services Ltd (TCS)
Tata Consultancy Services is an IT services, business solutions and outsourcing organization that delivers real results to global businesses, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT and IT-enabled services delivered through its unique Global Network Delivery Model, recognized as the benchmark of excellence in software development.
A part of the Tata Group, India’s largest industrial conglomerate, TCS has over 143,000 of the world's best trained IT consultants in 42 countries. The Company generated consolidated revenues of US $6 billion for fiscal year ended 31 March 2009 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com
About Thomson Reuters
Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals and has a long standing presence in the Middle East and Africa having opened its first office outside Europe in Alexandria in 1865. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, scientific, healthcare and media markets, powered by the world’s most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people in 93 countries. Thomson Reuters shares are listed on the New York Stock Exchange (NYSE: TRI); Toronto Stock Exchange (TSX: TRI); London Stock Exchange (LSE: TRIL); and Nasdaq (NASDAQ: TRIN). For more information, go to www.thomsonreuters.com.
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