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:
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
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.
Key Facts About CSC’s Operations
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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