TCS associates with MCX to transform exchange's core systems By CIOReviewIndia

TCS associates with MCX to transform exchange's core systems

CIOReviewIndia | Friday, 01 October 2021, 04:55 IST

  •  No Image

TCS associates with MCX to transform exchange's core systemsTata Consultancy Services (TCS) said it has been selected by the country's largest commodity exchange MCX as the technology solution provider.

As part of Project Udaan, TCS will help MCX (Multi Commodity Exchange) build a new technology core, transforming its trading as well as post-trade functions. Further, the company will help the exchange strengthen its leadership position in the commodity derivatives market in India.

TCS will design and deploy an ultra-low latency, high availability, high resilience and high performance solution that integrate multiple systems to transform MCX's operations end-to-end, according to a statement.

"Increasing trading volumes, longer trading hours, new asset classes, and higher retail participation are driving forward thinking exchanges and market infrastructure institutions to accelerate their transformation," TCS Financial Solutions Co-Head R Vivekanand said.

According to him, a large growing economy like India has immense future potential in commodity markets. "Our strong presence across the Indian markets, unique market know-how, intellectual property, and ability to put together a world class solution will help us play a pivotal role in helping MCX drive its transformation," Vivekanand said.

On The Deck

CIO Viewpoint

Technology Partner and Business Growth

By Mehdihasan Naqvi, Head IT, Otis Elevator Company

"Technology Partner" - in today's dynamic business

By Uday Sakunala, Head-IT, Hexagon Capability Center India

Collaborating with Technology Partners for...

By Joseph Kiran Kumar, Director and Head- IT, Eisai Pharmaceuticals India Pvt. Ltd

CXO Insights

How Low-Code is Transforming the Future of Work...

By Deepak Pargaonkar, VP, Solution Engineering, Salesforce India

Autonomous Strategic Behavior

By Suresh .V. Menon – Principal Consultant on Six Sigma and Strategic Management.

Ecosystem innovation: an enabler for digital...

By Avnish Sabharwal, MD, Accenture

Facebook