Tata Consultancy Services (TCS), a global leader in IT services and digital transformation, has signed an agreement with Muscat Clearing and Depository (MCD) to modernize its depository system. This collaboration will leverage TCS BaNCS™ for Market Infrastructure and Quartz™ to enhance efficiency, security, and scalability in Oman’s financial ecosystem.
MCD, the central securities depository in Oman, plays a crucial role in providing clearing, settlement, and depository services to market participants. By adopting TCS’s cutting-edge solutions, MCD aims to offer new services such as collateral management, central counterparty clearing, and risk management. Additionally, the integration of Quartz will ensure seamless connectivity with stock exchanges and investors, making operations more agile and future-ready.
With its expertise in cloud-enabled and digital solutions, TCS will help MCD transform its customer experience while ensuring compliance with global financial standards. TCS BaNCS for Market Infrastructure is a robust multi-asset solution designed for central securities depositories, central banks, exchanges, and clearinghouses. By implementing this platform, MCD will gain access to an advanced settlement and asset servicing system that supports multiple asset classes.
This partnership further strengthens TCS’s position as a trusted digital transformation partner in the Middle East and Africa (MEA) region. With a presence in nine MEA countries and a workforce of over 9,000 associates, TCS continues to drive innovation for more than 150 clients. The company has also been recognized as a Top Employer in the UAE, Saudi Arabia, and South Africa for eight consecutive years, reinforcing its commitment to excellence.
