LCH.Clearnet adopts TCS BaNCS market infrastructure as basis for next generation derivatives clearing
TCS Financial Solutions, a strategic business unit of Tata Consultancy
Services, dedicated to providing business application solutions to the
banking, insurance and capital markets Industries has announced the
decision by LCH.Clearnet to select TCS BaNCS Market Infrastructure to
provide the underlying technology for Synapse Clearing Technology
(Synapse), 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 BaNCS Market Infrastructure into the most advanced flexible
derivatives clearing platform to which new products and markets can be
added quickly.
Synapse 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 BaNCS 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.
The company made this announcement during the trading hours today, 16 September 2008.
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