BankMuscat selects TCS BaNCS securities trading solution
February 11, 2008

TCS BaNCS securities trading solution to provide BankMuscat with advanced internet trading platform

TCS Financial Solutions, the strategic business unit of TCS dedicated to providing business application solutions to the banking, insurance and capital markets industries, announced today that BankMuscat, the largest bank in Oman, has selected TCS BaNCS securities trading solution to assist its customers trade online in the Muscat securities market.

TCS BaNCS securities trading solution provides a comprehensive order, execution management and trading platform for both institutional and retail focused broker-dealers. The system offers seamless integration of trading and risk management and supports various markets, asset classes, languages and currencies. The business application connects with several liquidity destinations for order execution and interfaces with market data vendors for data capture, low-latency streaming, and display of level 1 and level 2 quotes from multiple markets.

BankMuscat selected the advanced TCS BaNCS securities trading solution due to its outstanding ability to provide online, real-time, multi-asset class and multi-currency position keeping. TCS BaNCS securities trading solution will also present BankMuscat securities trading clients with real-time trade confirmations and a unique facility to manage lien marking for funds and securities.

AbdulRazak Ali Issa, chief executive, BankMuscat, said: "We continue to invest in high-quality business applications like TCS BaNCS securities trading to drive revenue growth. User behavior in securities trading is evolving; more and more customers wish to conduct their financial transactions and trades with one financial institution. With TCS BaNCS securities trading, we will now be able to offer customers a more personalised and efficient environment to conduct all of their dealings."

N Ganapathy Subramaniam, president, TCS Financial Solutions, states: "With TCS Financial Solutions world-class system integration expertise and strong commitment to product innovation, our clients, such as BankMuscat, can rest assured that we are delivering the continuous value they require to enhance their customer experience and operational efficiencies."