LCH.Clearnet adopts TCS BáNCS Market Infrastructure

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LCH.Clearnet adopts TCS BáNCS Market Infrastructure

TCS Financial Solutions announced the decision by LCH.Clearnet to select TCS BáNCS Market Infrastructure to provide the underlying technology for Synápse Clearing Technology (Synápse), LCH.Clearnet’s multi-asset derivatives clearing platform

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TCS Financial Solutions, a strategic business unit of Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NS) dedicated to providing business application solutions to the banking, insurance and capital markets industries, announced today the decision by LCH.Clearnet to select TCS BáNCS Market Infrastructure to provide the underlying technology for Synápse Clearing Technology (Synápse), LCH.Clearnet's multi-asset derivatives clearing platform.

LCH.Clearnet is Europe's largest clearing house and a leading independent central counterparty. LCH.Clearnet will work with TCS to develop market leading TCS BáNCS Market Infrastructure into the most advanced flexible derivatives clearing platform to which new products and markets can be added quickly.

Synápse will enable LCH.Clearnet to service multiple derivative markets through a common platform, over a common framework which accommodates specializations across multiple markets.

The unique flexibility of the TCS BáNCS Market Infrastructure and capacity to handle multiple asset classes in a single solution makes it the ideal foundation on which to base a world-class derivatives clearing platform.

Roger Liddell, CEO LCH.Clearnet said; "The functional resilience of TCS BáNCS, combined with our unparalleled understanding of financial derivative markets means Synápse will be a market leading clearing solution."

"This implementation at LCH.Clearnet, Europe's largest clearing house, demonstrates in particular our continuing leadership in the Depository Clearing Space. TCS BáNCS Market Infrastructure is a compelling solution and unique in its design," said N. Ganapathy Subramaniam, President, TCS Financial Solutions. 

Sourced From: Vaishnavi Corporate Communications Pvt Ltd