TCS clinches deal to set new currency trading system
February 13, 2007

Tata Consultancy Services (TCS) announced on February 13, that it has won a significant multi-million dollar contract to implement a comprehensive international trading system for China Foreign Exchange Trade System (CFETS), which is a sub-institution of the People's Bank of China.

This deal with CFETS is a significant step in providing significant global solutions for major financial institutions in China. The proposed solution will be based on TradeX - TCS's futuristic trading solution. The deal paves the way for TCS to implement a forward-looking CNY (China Renminbi) trading system for CFETS.

"TCS will work with CFETS based on its accumulated knowledge and expertise that relate to dealing in over 50 financial markets in the world, buy and sell side firms, stock exchanges, depositories as well as industry initiatives. We are now going to leverage our entrenched knowledge in the business and financial services to help CFETS build a world-class trading system," said TCS Asia Pacific executive vice president and head Girija Pande.