TCS transforms Swiss post-trade market infrastructure of SIX

TCS has been a long-standing partner of SIX, having built its core platform in the 90s.

Tata Consultancy Services (TCS) on December 18 announced that it has helped SIX, the operator of the Swiss and Spanish financial market infrastructures, modernize its post-trade platform for the Swiss market. The IT services major has been a long-standing partner of SIX, having built its core platform in the 90s.

In this new project, TCS worked closely with SIX and various technology providers to design an innovative transformation strategy and a state-of-the-art open systems environment.

“TCS leveraged its design labs to create a modern portal that reimagines the user experience and empowers them to respond to end-client queries much faster. TCS was able to fast-track the development with an ingenious automation solution, which migrated over 500 billion records in record time, saving 4-5 months in the overall process,” the company said.

The new platform offers better flexibility, security, and ease of maintenance. The platform can currently process over 4 million daily transactions, covering more than 60 global markets.

Its modern architecture can also integrate easily with digital ecosystems, opening up possibilities for innovative new products and services.

Arturo Merino, Head IT, Securities Services, SIX, said, “This is going to give a second life to our core CSD platform and make our relationship with TCS stronger. We are conscious of the pressure and high expectations that we have put on TCS for the most complex project in recent years, but the TCS team has lived up to the expectations with an outstanding level of commitment. Our main goal is becoming more customer-centric and user-friendly and we have achieved it with the platform upgrade.”

Uma Rijhwani, Business Unit Head, BFSI – Europe Central, TCS, added, “TCS and SIX have achieved a major feat by modernizing the Swiss post trade platform of SIX in record time. The new, state-of-the-art system brings to bear the power of digital technologies to transform the Swiss post-trade market infrastructure, while providing a solid foundation for SIX’ expansion into global markets.”