TCS successfully delivers trading solution for China project

MUMBAI: The country largest software company, Tata Consultancy Services, today announced that its trading solution has helped the Reminbi currency platform for the Chinese inter-bank market going live nation-wide successfully.

An initiative of China Foreign Exchange Trade System (CFETS), a subsidiary of People's Bank of China (PBoC), the New Generation CNY Trading System (NGCNYTS) provides unified platform across debt, money and derivative markets.

It supports multiple trading methods, including special features for market-makers, a press release issued here said.

NGCNYTS is designed to meet fast-growing requirements of the Chinese financial market with efficient risk management and real-time monitoring.

It is the primary trading platform for all financial institutions such as commercial banks, pension, Trust and mutual fund, securities firms and insurance companies in China, the release added.

TCS Asia-Pacific's Executive Vice-President and Head, Girija Pande, said, "we are extremely pleased to successfully deliver the CFETS project built based on our experience in other global markets and in close co-operation with CFETS who have experience in Chinese domestic market."

TCS said its solution at CFETS is scalable and can handle rapid growth in volumes with ease.