Taib Bank licenses TCS securities trading system

Source: TCS Financial Solutions

TCS Financial Solutions, the strategic business unit of Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NS) dedicated to providing business application solutions to the banking, insurance and capital markets industries, announced today that Taib Bank, one of the Middle East's first private banks with a focus on providing complete investment and wealth management solutions to both high-net-worth individuals and institutional investors, has selected TCS BαNCS Securities Trading solution to assist the Bank to enter the Internet Trading market.

TCS BαNCS Securities Trading solution provides a comprehensive order, execution management and trading platform for both institutional and retail focused broker-dealers. The system offers seamless integration of trading and risk management and supports various markets, asset classes, languages and currencies. The business application connects with several liquidity destinations for order execution and interfaces with market data vendors for data capture, low-latency streaming, and display of Level 1 and Level 11 quotes from multiple markets.

TAIB Bank selected the advanced TCS BαNCS Securities Trading solution due to its outstanding ability to help TAIB Bank expand into a number of new stock exchanges as well as provide access to clients through new electronic access channels. TCS BαNCS Securities Trading solution will also provide TAIB Bank with direct market access to investors through Internet trading, assist to provide real-time market data information as well as offer a facility to place orders within 20 global exchanges.

"TCS BαNCS Securities Trading solution will provide TAIB Bank with a highly scalable trading platform that will assist to drive revenue growth and attract new customers," stated Mr. Mohammed Saleh, COO and President, of TAIB Bank. Mr. Deepak Katyal, Vice President, Information Technology added that "We decided to work with the TCS Financial Solutions team due to their in-depth technical skills in providing enterprise software solutions to banks, complete understanding of our business needs and expert implementation skills."

Mr. N. Ganapathy Subramaniam, President, TCS Financial Solutions states: "TCS Financial Solutions is committed to assisting financial institutions in the Middle East region to drive new product development initiatives forward. With the highly functional TCS BαNCS Securities Trading solution I am confident that TAIB Bank will play a vital role in building the region's expanding Internet t trading market."

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