TCS and SIX collaborate to modernize Swiss financial market’s post trade infrastructure

Tata Consultancy Services (TCS) has significantly upgraded the post trade platform for SIX, the operator of the Swiss and Spanish financial market infrastructures. This modernization effort has bolstered the resilience and robustness of the post trade market infrastructure, accelerating SIX’s position as a key player in the global securities services industry.

Evolution of SIX’s Core Platform with TCS

Originally built by TCS in the 90s, SIX’s core platform was among the world’s first online real-time settlement systems and serves as the backbone of the Swiss market’s post-trade value chain. Holding securities worth several trillion Swiss Francs, this transformation program holds national importance for Switzerland.

Collaborative Approach and Innovative Strategy

Utilizing its extensive experience in large-scale transformations, TCS collaborated closely with SIX and various technology partners to devise an innovative transformation strategy and create a state-of-the-art open systems environment. This included the design of a modern portal to enhance user experience and response times.

Revolutionizing Swiss Market: Tata Consultancy Services Modernizes SIX’s Core Post Trade System

Fast-Tracked Development and Automation Solutions

TCS’s automation solution expedited the development process, migrating over 500 billion records in record time and saving 4-5 months in the overall process. The new open system’s architecture offers greater flexibility, security, and ease of maintenance, and is capable of processing over 4 million transactions per day, covering more than 60 global markets.

Enhancing Customer-Centricity and Market Agility

The new system enables customization of post trade processes, offering businesses greater flexibility and agility. This customer-centric approach enhances SIX’s competitive differentiation and supports its international growth.

Leadership Testimonials on the Transformation

Arturo Merino, Head IT, Securities Services, SIX, praised the collaboration with TCS and the significant upgrade to their platform, making it more customer-centric and user-friendly. Uma Rijhwani, Business Unit Head, BFSI – Europe Central, TCS, highlighted the achievement of modernizing SIX’s Swiss post trade platform in record time, setting a foundation for SIX’s global market expansion.