Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization announced that its flagship product TCS BaNCS has been implemented by Euroclear Finland for all asset classes.

This is the first transformation in Europe, where a CSD replaced its core legacy system . In addition, Euroclear also made significant enhancements and upgrades to its issuance and post trade services. 'Infinity', powered by TCS BaNCS for Market Infrastructure, is a program that replaces legacy platforms with a single modern, standards-based settlement and safekeeping platform.

R. Vivekanand, Vice President and Co- Head- TCS Financial Solutions said, ''The TCS BaNCS implementation replaces legacy platforms with a single modern, multi-asset class settlement and safekeeping platform. Euroclear Finland is now among the most advanced CSDs in Europe, supporting both nominee and direct holding account structures, total STP and compliance to CSDR and GDPR guidelines. We in TCS are proud to have been part of this landmark transformation Program that makes Euroclear Finland ready for the future and agile in meeting its customer's demands."

Shares of the company gained Rs 6.45, or 0.35%, to trade at Rs 1,853.75. The total volume of shares traded was 75,765 at the BSE (11.46 a.m., Friday).