Mumbai: The country largest software company,
Tata Consultancy Services, today announced that its trading
solution has helped the Reminbi currency platform for the
Chinese inter-bank market going live nation-wide successfully.
An initiative of China Foreign Exchange Trade System
(CFETS), a subsidiary of People`s Bank of China (PBoC), the
New Generation CNY Trading System (NGCNYTS) provides unified
platform across debt, money and derivative markets.
It supports multiple trading methods, including special
features for market-makers, a press release issued here said.
NGCNYTS is designed to meet fast-growing requirements of
the Chinese financial market with efficient risk management
and real-time monitoring.
It is the primary trading platform for all financial
institutions such as commercial banks, pension, Trust and
mutual fund, securities firms and insurance companies in
China, the release added.
TCS Asia-Pacific`s Executive Vice-President and Head,
Girija Pande, said, "we are extremely pleased to successfully
deliver the CFETS project built based on our experience in
other global markets and in close co-operation with CFETS who
have experience in Chinese domestic market."
TCS said its solution at CFETS is scalable and can
handle rapid growth in volumes with ease.