TCS gains as its TCS BaNCS gets selected by SGX as strategic partner for NSE IFSC-SGX Connect
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Tata Consultancy Services is currently trading at Rs. 3630.75, up by 35.35 points or 0.98% from its previous closing of Rs. 3595.40 on the BSE.
The scrip opened at Rs. 3653.70 and has touched a high and low of Rs. 3654.00 and Rs. 3600.00 respectively. So far 53930 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 4045.50 on 18-Jan-2022 and a 52 week low of Rs. 2986.30 on 18-Mar-2021.
Last one week high and low of the scrip stood at Rs. 3685.00 and Rs. 3580.00 respectively. The current market cap of the company is Rs. 1342755.65 crore.
The promoters holding in the company stood at 72.19%, while Institutions and Non-Institutions held 22.95% and 4.86% respectively.
Tata Consultancy Services’ (TCS) TCS BaNCS has been selected by Singapore Exchange (SGX) to power the NSE IFSCSGX Connect (Gift Connect), its program to connect to NSE IFSC, a fully owned subsidiary of the National Stock Exchange of India (NSE), for trade execution and clearing of Nifty products on behalf of its members in Singapore and globally.
To enable international access to Indian capital markets and create a larger liquidity pool of international and domestic participants, SGX has set up SGX India Connect IFSC, a special purpose vehicle at Gujarat International Finance Tec-City (Gift City), a special economic zone in Gandhinagar, India. SGX selected TCS BaNCS for its multi-broker, low latency capabilities, to serve as the end-to-end solution for its trading, clearing, settlement and risk management operations.
The Gift Connect will allow SGX members to place orders on NSE IFSC using FIX/proprietary APIs or through the TCS BaNCS dealing terminal. The solution’s clearing and settlement module will interact with the clearing arms of NSE IFSC and SGX for position and limits management, while also performing all regulatory compliance functions. Using TCS BaNCS’ risk management module, SGX and SGX brokers can define risk rules and profiles, monitor and control trading activities.
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.
