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CSCS selects TCS BaNCS to replace clearing, settlement platform

 

November 9, 2015

As published in Central Securities Clearing System Plc (https://www.cscsnigeriaplc.com)

Central Securities Clearing System (CSCS) Plc, the central securities depository, clearing and settlement entity for the Nigerian Capital Market has selected TCS-BaNCS to replace its existing clearing and settlement platform.

Kyari Bukar, MD/CEO of CSCS said, “I am excited about the opportunities this business transformation initiative presents CSCS. This will deliver far-reaching benefits to the Nigerian capital markets as a whole and position us to take advantage of the increased interest in the creation of regional markets through linking of post-trade services. The selection of TCS BaNCS will not only enable us generate efficiencies in our core operations but also help expand our portfolio of service offerings”.

R Vivekanand, Vice President, TCS Financial Solutions said, “We are pleased that CSCS has chosen TCS BaNCS for this transformation program. We believe TCS BaNCS’ unique multi asset class, component architecture, rich functionality and continuous technology advances will help CSCS drive growth in the Nigerian Capital Market and the region”.