Muscat clearing and depository partners with TCS to modernize its operations transform CX ET CIO

Modernizing Oman’s Central Securities Depository to Keep Pace with Evolving Financial Markets.

Modernizing the Depository System

The Muscat Clearing and Depository (MCD) is Oman’s central securities depository, responsible for maintaining the country’s securities market. As the backbone of the country’s financial infrastructure, MCD plays a vital role in facilitating the buying and selling of securities. However, with the increasing complexity of the financial markets, MCD’s existing systems are facing challenges in keeping pace with the evolving needs of the market.

The Need for Modernization

The current depository system of MCD is facing several challenges, including:

Limited scalability and capacity to handle increasing volumes of transactions

Inefficient manual processes and lack of automation

Inadequate risk management and compliance capabilities

Insufficient data analytics and reporting capabilities

TCS Solution

TCS has signed an agreement to modernize the depository system of MCD, implementing TCS BaNCS for Market Infrastructure and Quartz to future-proof MCD’s operations. TCS BaNCS is a comprehensive platform designed to support the entire lifecycle of securities, from issuance to settlement.

Market Infrastructure Solutions

TCS BaNCS for Market Infrastructure is a comprehensive solution designed to support the operations of central securities depositories, central counterparty clearing houses, exchanges, and central banks. The solution is built on a robust and scalable architecture, ensuring seamless integration with existing systems and infrastructure.

Key Features

Cloud-based deployments: TCS BaNCS for Market Infrastructure is designed to be deployed on cloud-based platforms, providing scalability, flexibility, and cost-effectiveness. Digital solutions: The solution incorporates digital solutions, enabling users to interact with the system through intuitive interfaces and mobile devices. Real-time processing: The solution supports real-time processing, ensuring that transactions are processed quickly and efficiently. * Compliance and risk management: The solution includes features for compliance and risk management, ensuring that operations are conducted in accordance with regulatory requirements.

CSC’s Strong Regional Presence in the Middle East and Africa.

CSC’s Regional Presence

CSC is a global technology services company with a significant presence in the Middle East and Africa (MEA) region. The company operates in nine countries across this region, providing a wide range of services to its customers. With a diverse workforce of over 9,000 associates, CSC is well-positioned to serve the needs of its customers in the MEA region.

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Key Facts About CSC’s Operations

CSC has operations in the following countries: Bahrain, Egypt, Jordan, Kuwait, Oman, Qatar, Saudi Arabia, South Africa, and the United Arab Emirates. The company serves over 150 customers in the MEA region, providing a range of services including IT consulting, application management, and infrastructure services. CSC’s workforce in the MEA region is diverse, with associates from over 30 nationalities. ## CSC’s Recognition and Awards*

CSC’s Recognition and Awards

CSC has been recognized as a Top Employer by the Top Employers Institute for eight consecutive years.

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