New Zealand Stock Exchange Selects TCS BANCS Market Infrastructure Solution

MUMBAI, India, Sept. 28 /PRNewswire/ -- TCS Financial Solutions, the strategic business unit of Tata Consultancy Services (TCS), (BSE: TCS.BO) dedicated to providing business application solutions to the banking, insurance and capital markets industries, today announced that its TCS BANCS Market Infrastructure solution has been chosen by the New Zealand Stock Exchange (NZX).

TCS BANCS Market Infrastructure provides multientity, multilingual support to Depository and Clearing institutions with comprehensive functionality across Equity, Fixed Income, Commodities and Derivatives asset classes. This product offers complete functional coverage across technology platforms and delivery channels. TCS BANCS Market Infrastructure is fully compliant with international standards from the G30 and the Bank of International Settlements. In addition, the solution complies with global standards such as ISIN and ISO 15022 ensuring continuous adherence to global best practices.

NZX selected TCS BANCS Market Infrastructure based on its ability to assist NZX to maximize its efficiency and to offer Integrated Exchange Clearing, Registry and Depository services for Equity, Fixed Income and Derivatives instruments.

"NZX prides itself on innovation and with TCS BANCS Market Infrastructure we will be able to provide a rock solid proven platform for New Zealand's current equity & planned derivatives markets. With TCS BANCS Market Infrastructure we will be able to pursue a wide range of new product development initiatives like our integrated Emission Registry," stated Stuart Turner, Head of Strategy and Projects at NZX. "TCS BANCS Market Infrastructure will also provide our group with increased flexibility and a lower total cost of ownership."

Mr. N. G. Subramaniam, President, TCS Financial Solutions, comments: "TCS BANCS Market Infrastructure is an established solution leader for Depositories and Clearing organizations. It is unique in providing Depository, Registry and Clearing services in a single solution, which is ideal for markets like New Zealand where these functions are vertically integrated in the stock exchange. NZX will also benefit significantly from the flexibility of the solution since it will give them the agility to introduce products quickly."

About NZX

NZX operates New Zealand's sole registered securities exchange. NZX facilitates fully electronic trading, clearing and settlements across its three principal markets, the NZSX - Stock Market, the NZDX - Debt Market, and the NZAX - Alternative Market. In addition, NZX offers a comprehensive suite of data products, indices and funds, and is responsible for the ongoing surveillance and regulation of New Zealand's securities markets.

By providing a ready market for capital raising and business growth, NZX is at the forefront of business in New Zealand. At both the Board and management levels, NZX is committed to developing and ensuring the integrity and international competitiveness of New Zealand's securities markets. NZX demutualised in October 2002 and became a publicly listed company on 4 June 2003. For more information, visit http://www.nzx.com.

About TCS Financial Solutions

TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BANCS. Our mission is to provide best of breed solutions that will drive growth, reduce costs, mitigate risk and offer a faster speed to market for our clients. With a global customer base in excess of 200 institutions operating in over 80 countries, TCS Financial Solutions delivers state-of-the-art software solutions for the banking, insurance and capital markets industries worldwide.

About Tata Consultancy Services Ltd (TCS)

Tata Consultancy Services is an IT services, business solutions and outsourcing organization that delivers real results to global businesses, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT and IT-enabled services delivered through its unique Global Network Delivery Model(TM), recognized as the benchmark of excellence in software development.

A part of the Tata Group, India's largest industrial conglomerate, TCS has over 94,000 of the world's best trained IT consultants in 47 countries. The company generated consolidated revenues of US $4.3 billion for fiscal year ended 31 March, 2007 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at http://www.tcs.com.