Tata Consultancy Services (TCS) has announced the expansion of its partnership with Euroclear Group to modernize Sweden’s Central Securities Depository (CSD). Euroclear Sweden will deploy TCS BaNCS™ for Market Infrastructure and Quartz™, TCS’ advanced digital solutions, to create a resilient, future-ready, and scalable CSD platform. TCS BaNCS for Market Infrastructure will support end-to-end operations across asset classes, including core registry, depository services, cross-border settlement, and asset servicing. TCS’ Quartz will leverage distributed ledger technology and AI for tokenized assets, decentralized settlements, and real-time insights. These solutions will aid Euroclear in its Nordic transformation strategy, aiming for standardization and growth through a modern, cloud-ready, and scalable CSD platform across Sweden and Finland. The unified platform will ensure compliance with European standards and enhance straight-through processing. The implementation involves a phased IT transition, including migrating the Swedish market to the European Central Bank’s TARGET2-Securities (T2S) platform for pan-European settlement. This collaboration is a pillar of Euroclear's 'One Nordic' vision, harmonizing business and IT practices onto a single platform, enhancing client efficiency and reinforcing its position as the preferred Nordic CSD. TCS will leverage its market-leading products for financial market infrastructures to bring high levels of sophistication, standards compliance, and technology to the Nordics market, ensuring the platform is future-proof, resilient, and scalable.
