NCDEX and TCS Forge Strategic Alliance to Enter Equity Markets

The National Commodity and Derivatives Exchange (NCDEX) has announced a strategic partnership with Tata Consultancy Services (TCS) to venture into the equity and equity derivatives markets. This collaboration, set to last for a decade, follows a rigorous four-month selection process of global providers.

The initiative will see TCS implement an enterprise-level trading and surveillance platform for NCDEX, ensuring compliance with evolving regulatory needs. Balkrishna Shankwalker, the Chief Technology Officer of NCDEX, emphasized the importance of a robust technology framework as the exchange diversifies its market offerings.

Established as an agricultural commodity exchange in 2003, NCDEX aims to evolve into a multi-segment entity. By leveraging the advanced features of TCS's BaNCS and Quartz technology, the exchange seeks to harness its rural reach, facilitating the integration of household savings from rural India into regulated financial markets.