{"id":18660,"date":"2017-10-28T17:13:45","date_gmt":"2017-10-28T16:13:45","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=18660"},"modified":"2017-10-28T17:15:22","modified_gmt":"2017-10-28T16:15:22","slug":"cscs-increases-automation-efficiencies-tcs-bancs-post-trade-service-solution","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/cscs-increases-automation-efficiencies-tcs-bancs-post-trade-service-solution\/","title":{"rendered":"CSCS Increases Automation, Efficiencies With TCS BaNCS, A Post Trade Service Solution"},"content":{"rendered":"

The Central Securities Clearing System (CSCS) Plc recently announced in Lagos it would increase automation and improve efficiencies in the Nigerian capital market with the deployment of TCS BaNCS, a world class multi-asset class solution for securities depository, clearing and settlement.<\/p>\n

The solution replaced the NASDAQ Equator which has been in use since inception of the company in 1997.<\/p>\n

The solution change is core to the company\u2019s business transformation initiatives which aim at improving efficiency in depository, clearing and settlement services.<\/p>\n

\u201cThis is a significant milestone for us and a demonstration of our commitment to bring excellent customer service delivery and efficiency to the Nigerian Capital Market,\u201d said Mr. Bola Adeeko, the Interim Chief Executive Officer of CSCS.<\/p>\n

Speaking further, Mr. Adeeko said \u201cwe are proud of this achievement and confident that the new solution will be beneficial to the teeming market participants in particular and the Nigerian Capital Market in general,\u201d while urging them to take advantage of the enormous opportunities the new platform offers.<\/p>\n

While listing some of the opportunities available on the platform, Mr. Adeeko said that TCS BaNCS, as a market infrastructure, will drive Straight-Through Processing (STP) by providing the unique ability to support multiple markets and asset classes on the same platform. It will also support various types of account ownership structures such as Segregated Depository Account, Nominee\/Special Purpose Vehicle Accounts and Custodian Accounts.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

According to him, \u201cthis initiative aligns very closely with one of our strategic objectives, which is to improve efficiency in our depository, clearing and settlement services – ultimately, we believe our customers and stakeholders at large will enjoy improved service delivery.\u201d<\/p>\n

He commended the market participants for their cooperation and support towards ensuring that the transition was a smooth one. \u201cLet me appreciate my colleagues too for demonstrating excellent team spirit and perseverance while the project lasted. This would not have been possible without them,\u201d Mr. Adeeko said.<\/p>\n

TCS BaNCS is developed and supported by TATA Consultancy Services (TCS), an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match.<\/p>\n

Photo Caption:\u00a0Mr. Bola Adeeko, the Interim Chief Executive Officer of CSCS.<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The Central Securities Clearing System (CSCS) Plc recently announced in Lagos it would increase automation and improve efficiencies in the Nigerian capital market with the deployment of TCS BaNCS, a world class multi-asset class solution for securities depository, clearing and settlement. The solution replaced the NASDAQ Equator which has been in use since inception of …<\/p>\n","protected":false},"author":6,"featured_media":18663,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[36,1134,740,575],"coauthors":[2391],"class_list":["post-18660","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-cbn","tag-cscs","tag-nse","tag-sec"],"yoast_head":"\nCSCS Increases Automation, Efficiencies With TCS BaNCS, A Post Trade Service Solution - National Wire<\/title>\n<meta name=\"description\" content=\"The Central Securities Clearing System (CSCS) Plc recently announced in Lagos it would increase automation and improve efficiencies in the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/cscs-increases-automation-efficiencies-tcs-bancs-post-trade-service-solution\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CSCS Increases Automation, Efficiencies With TCS BaNCS, A Post Trade Service Solution - 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