Financial Express - June
10, 2003
Chennai:
Tata
Consultancy Services (TCS) has bagged a maintenance and
production support contract for five years from the Canadian
Depository for Securities Ltd (CDS). The order is on a fixed
price basis and company officials declined to disclose the
value of the deal.
"TCS has earlier provided an improved clearing
settlement platform, which will enable straight through
processing, improve linkages with other constituents. The
order was worth Canadian $20 million," TCS
vice-president
Ravi Shah said.
Around 25 persons have been deployed onsite to take care of
the requirements of CDS. As the process mature, the more work
would be shifted offshore.
TCS is also in negotiations with a leading clearing and
settlement organisation in the US.
