Tata Consultancy Services Limited has informed the Exchange regarding 'Press Release - TCS and Australian Securities Exchange (ASX) go-live with CHESS Release 1 for cash clearing & settlement'.
TCS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Tata Consultancy Services has successfully completed the go-live of Release 1 for ASX's CHESS (Clearing House Electronic Subregister System) modernization program. TCS deployed its TCS BaNCS for Market Infrastructure and Quartz Gateway solutions to deliver a new clearing component for Australia's critical financial market infrastructure. The cloud-hosted solution supports real-time trade novation and netting, processes over 20 million trades per day, and supports multiple messaging standards including ISO 15022, ISO 20022, and FIX. The solution is connected to multiple Australian exchanges and provides improved resilience and scalability. Work has already begun on Release 2, targeted for go-live in 2029.
This successful deployment reinforces TCS's position as a global leader in financial market infrastructure technology and strengthens its partnership with ASX. The project demonstrates TCS's ability to deliver complex, high-performance systems internationally, which could attract more clients in the BFSI sector and support future revenue growth.