NCDEX ropes in TCS as technology partner to drive its entry into equities and derivatives

NCDEX has entered into a long-term strategic technology partnership with Tata Consultancy Services (TCS) to fuel its planned foray into the equity and equity derivatives segments. “Under a ten-year commitment, TCS will deploy a scalable, enterprise-grade trading and monitoring platform designed to meet evolving market and regulatory needs,” said a press release.“Guided by our ‘Bharat First’ philosophy, as we prepare to enter the equity and equity derivatives segment, our priority is to build a strong technology architecture capable of meeting the diverse market and regulatory needs of the Indian financial ecosystem. I am pleased that our partnership with TCS enables us to deploy a state-of-the-art equity infrastructure that is not only aligned with global benchmarks, but at the same time remains deeply rooted in the needs of the Indian market,” said Balkrishna Shankwalker, CTO of NCDEX.

NCDEX said it conducted an extensive four-month selection process, assessing global solution providers based on stringent functional, technical and managerial metrics. After detailed evaluations reviewed by board-appointed committees and the exchange’s board of directors, TCS was selected as the preferred partner.

The assignment concerns the implementation of the equity and equity derivatives platform and is licensed for a period of ten years after commissioning.

“We are pleased to have chosen NCDEX as their partner for their expansion into the Indian equity market. At TCS, we are continuously investing in solutions for the market infrastructure sector, given our long track record

and leadership position in this mission-critical space,” said Vivekanand, president of BFSI Products and Platforms, TCS.

“We will deploy a next-gen platform for NCDEX, combining our TCS BaNCS and Quartz technology with world-class trading partner solutions. We are confident that this best-of-breed solution, with multi-asset class support, ultra-high performance and low-latency capabilities, will help drive NCDEX’s growth in a rapidly changing technology landscape,” he added.

The technology architecture is designed to ensure speed, reliability and adaptability and support efficient participation across all investor segments. It offers high scalability, throughput and low latency allowing NCDEX to efficiently respond to dynamic market growth and product expansion.