Mon, Nov 20, 2023
In a major win for Tata Consultancy Services (TCS), the Indian IT giant has been selected by Australian stock exchange operator ASX to overhaul its critical clearing and settlement software. This marks a significant departure from ASX's previous blockchain-based approach, which was abandoned due to delays and cost overruns.
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TCS's software is used by exchanges around the world including in Finland and Canada for functions it would be expected to perform for ASX's Clearing House Electronic Subregister System.
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