Tata Consultancy Services, has partnered with the Dubai Gold & Commodities Exchange (DGCX) to modernise and future-proof DGCX’s market infrastructure through the implementation of a next-generation integrated trading, clearing, and surveillance solution.
The transformation programme will provide DGCX with a more flexible technology foundation to support future growth, improve operational efficiency and accelerate the development of new products. It will also strengthen DGCX’s ability to respond to the evolving needs of regional and international market participants across established and emerging asset classes.
As part of this agreement, TCS will deliver a world-class trading, clearing and surveillance platform by integrating:
- TCS BaNCS for Market Infrastructure for central counterparty clearing
- Quartz™ for Surveillance to monitor and detect market manipulation, fraud, and abnormalities
- TCS BaNCS Securities Trading to help market participants to trade across assets
- TCS’ Quartz Gateway for industry-standard market connectivity, combined with generative AI-powered reporting, analytics, and decision-making
- Exchange trading and matching from a global exchange partner
Strategic business group
These solutions are a part of BFSI Products and Platforms, a strategic business group within TCS that empowers financial services and insurance organisations to achieve superior customer experience and operational transformation.
“Dubai is already one of the world’s major centres for commodities and capital flows, and we will continue to build and enhance our market infrastructure to match that position, while also connecting more regional and international participants with the products, technology, and connectivity needed to access global opportunities,” stated Ahmed Bin Sulayem, Chairman and Chief Executive Officer, DGCX.
“Our expertise in delivering mission-critical solutions across global markets, including the Middle East, uniquely positions us to support DGCX on this transformation journey,” added R. Vivekanand, President, BFSI Products and Platforms, TCS.
