Mon, Nov 20, 2023
In a major win for Tata Consultancy Services (TCS), the Indian IT giant has been selected by Australian stock exchange operator ASX to overhaul its critical clearing and settlement software. This marks a significant departure from ASX's previous blockchain-based approach, which was abandoned due to delays and cost overruns.
TCS's software is used by exchanges around the world including in Finland and Canada for functions it would be expected to perform for ASX's Clearing House Electronic Subregister System.
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