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ICICI Securities partners with TCS to upgrade retail trading platform

Tata Consultancy Services (TCS) on Tuesday announced a partnership with ICICI Securities to modernise its retail trading and brokerage platform. Through this collaboration, TCS aims to deliver a scalable, high-performance trading solution for ICICI Securities customers, driving innovation in India's capital markets. As part of this initiative, TCS will deploy the trading solution of TCS BaNCS, allowing ICICI Securities to improve the agility of its platform and provide customers with an intuitive, state-of-the-art trading and wealth creation experience tailored to evolving market demands. 'This partnership with a market leader further extends TCS' leadership in the capital markets industry and validates our commitment to delivering best-in-class trading solutions. By transforming ICICI Securities' brokerage platform, we are not only enhancing its current capabilities, but also future proofing it with cloud readiness, and advanced scalability,' R Vivekanand, president, BFSI Products & Platforms, TCS said. This collaboration will also enhance ICICI Securities key brokerage functions, including order management, connectivity to major exchanges like BSE, NSE, and MCX, online risk management, clearing and settlement, corporate actions, customer management, and contracting, said the company in a statement. 'At ICICI Securities, technology has always been at its core. By adopting TCS BaNCS, we will empower our customers with a seamless and high-performance trading ecosystem. We are delighted to partner with TCS and together we will be creating a future-ready platform for superior customer experience in India's brokerage sector,' TK Srirang, MD & CEO, ICICI Securities said. TCS handles nearly 30 per cent of retail trading volumes in India through its brokerage solutions that support over 30 organisations, including top banks and brokerage institutions.