As part of the initiative, Euroclear Sweden will deploy TCS BaNCS' for Market Infrastructure and Quartz', TCS's digital solutions suite, to develop a resilient, scalable and future-ready CSD platform aligned with evolving European market standards.
TCS BaNCS will support end-to-end market infrastructure operations across registry, depository services, cross-border settlement and asset servicing, while Quartz will leverage distributed ledger technology and AI to enable tokenized assets, decentralized settlements and real-time insights.
The unified platform will support Euroclear's Nordic transformation strategy across Sweden and Finland, enabling standardization, scalability and regulatory compliance, along with enhanced straight-through processing. The implementation will be executed in phases, including migration to the European Central Bank's TARGET2-Securities (T2S) platform for secure pan-European settlement.
TCS BaNCS for Market Infrastructure offers a sophisticated double-entry system with support for both omnibus and end-investor accounting, as well as multiple settlement models, including a unique settlement optimization capability that helps manage liquidity across both securities and cash. The solution provides compliance with European and global standards such as the Securities Market Practice Group (SMPG), Joint Working Group on Corporate Actions (CAJWG), Central Securities Depositories Regulation (CSDR), and others.
Hanna Vainio, CEO, Euroclear Sweden and Finland said: Having established one of Europe's most advanced CSD infrastructures in Finland, we are pleased to extend our decade-long partnership with TCS to Sweden. This collaboration is a pillar of our 'One Nordic' vision, allowing us to harmonize business and IT practices onto a single, resilient platform. By integrating our regional operations, we are not only enhancing efficiency for our clients but also reinforcing our position as the preferred Nordic CSD, dedicated to the long-term prosperity of the Nordic financial ecosystem.
R Vivekanand, President, BFSI Products & Platforms, TCS, said: 'We are pleased to expand our relationship with the Euroclear Group through this strategic multi-country harmonization initiative. Building on our joint success in Finland, we look forward to working with Euroclear to bring high levels of sophistication in functionality, standards compliance and technology to the Nordics market leveraging TCS BaNCS and Quartz, our market-leading products for financial market infrastructures. We are deeply committed to ensuring the platform is future-proof, resilient, scalable, while leading the way for transformation in European markets.'
TCS is a digital transformation and technology partner of choice for industry-leading organizations worldwide.
Tata Consultancy Services (TCS) reported a 2.08% rise in consolidated net profit to Rs 13,718 crore on 5.38% increase in revenue from operations to Rs 70,698 crore in Q4 FY26 as compared with Q3 FY26.
Shares of Tata Consultancy Services fell 8.64% to Rs 2,236.70 on the BSE.
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