TCS helps SIX to transform Swiss post trade platform infrastructure

18 Dec 2023 Evaluate

Tata Consultancy Services (TCS) has helped SIX, the operator of the Swiss and Spanish financial market infrastructures, modernize its post trade platform for the Swiss market. This has resulted in a more resilient and robust post trade market infrastructure, and accelerated SIX’ journey towards becoming a key player in the global securities services industry.

SIX’ mission critical core platform was originally built by TCS in the 90s, and was one of the world’s first online real-time settlement systems. It serves as the backbone of the Swiss market’s post-trade value chain, holding securities worth a few trillion Swiss Francs, making this a high-stakes transformation program of national significance.

With its contextual knowledge and experience in leading similar large-scale transformations for clients, TCS worked in close collaboration with SIX and various technology providers to design an innovative transformation strategy and a state-of-the-art open systems environment. TCS leveraged its design labs to create a modern portal that reimagines the user experience and empowers them to respond to end-client queries much faster. TCS was able to fast-track the development with an ingenious automation solution, which migrated over 500 billion records in record time, saving 4-5 months in the overall process.

The open system offers greater flexibility, security, and ease of maintenance. It is more scalable and currently processes more than 4 million transactions per day, covering more than 60 global markets. Its modern, cloud ready architecture can also integrate more easily with digital ecosystems, opening-up possibilities of innovative new products and services.

The new system enables easier customization of the post trade processes individually, giving each business greater flexibility and agility to meet differing market requirements in different parts of the world. This makes SIX’ business more customer-centric and market-friendly, enhances its competitive differentiation and supports its growth internationally.

TCS is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years.

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