STOCKHOLM | MUMBAI, June 3, 2026: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting, and business solutions, today announced the expansion of its long-standing partnership with Euroclear Group to drive the next phase of transformation for Sweden’s Central Securities Depository (CSD). As part of this initiative, Euroclear Sweden will deploy TCS BaNCS™ for Market Infrastructure and Quartz™, TCS’ advanced digital solutions, to build a resilient, future-ready, and scalable CSD platform aligned to evolving European market standards.
TCS BaNCS for Market Infrastructure will enable Euroclear to meet the evolving needs of financial market infrastructure institutions, supporting end-to-end operations across asset classes, including core registry, depository services, cross-border settlement, and asset servicing. Complementing this, TCS’ Quartz will leverage distributed ledger technology and AI to support tokenized assets, decentralized settlements, and real-time, actionable insights.
Together, these solutions will help Euroclear to implement its Nordic transformation strategy, aimed at driving standardization and growth through the deployment of a modern, cloud-ready, and scalable CSD platform across Sweden and Finland. The unified platform will enable continued compliance with European standards, enhance straight through processing. The implementation of a unified platform will be achieved through a phased IT transition, including the migration of the Swedish market to the European Central Bank’s TARGET2-Securities (T2S) platform for secure and efficient pan-European settlement.
Hanna Vainio, CEO, Euroclear Sweden and Finland said: "Having established one of Europe’s most advanced CSD infrastructures in Finland, we are pleased to extend our decade-long partnership with TCS to Sweden. This collaboration is a pillar of our 'One Nordic' vision, allowing us to harmonize business and IT practices onto a single, resilient platform. By integrating our regional operations, we are not only enhancing efficiency for our clients but also reinforcing our position as the preferred Nordic CSD, dedicated to the long-term prosperity of the Nordic financial ecosystem."
R Vivekanand, President, BFSI Products & Platforms, TCS, said: “We are pleased to expand our relationship with the Euroclear Group through this strategic multi-country harmonization initiative. Building on our joint success in Finland, we look forward to working with Euroclear to bring high levels of sophistication in functionality, standards compliance and technology to the Nordics market leveraging TCS BaNCS and Quartz, our market-leading products for financial market infrastructures. We are deeply committed to ensuring the platform is future-proof, resilient, scalable, while leading the way for transformation in European markets.”
TCS BaNCS for Market Infrastructure offers a sophisticated double-entry system with support for both omnibus and end-investor accounting, as well as multiple settlement models, including a unique settlement optimization capability that helps manage liquidity across both securities and cash. The solution provides compliance with European and global standards such as the Securities Market Practice Group (SMPG), Joint Working Group on Corporate Actions (CAJWG), Central Securities Depositories Regulation (CSDR), and others. Additionally, Quartz’s co-existence approach for supporting both ISO 15022 and ISO 20022 standards enables a seamless and efficient transition to ISO 20022.
Tata Consultancy Services Ltd (TCS)Tata Consultancy Services (BSE: 532540, NSE: TCS) is the technology partner of choice for industry-leading organizations worldwide. Since its inception in 1968, TCS has upheld the highest standards of innovation, engineering excellence and customer service. It has set an aspiration to become the world's largest AI-led technology services company and is enabling its clients to transform themselves across the full AI stack, from infrastructure to intelligence. Rooted in the heritage of the Tata Group, TCS is focused on creating long term value for its clients, its investors, its employees, and the community at large. With a highly skilled workforce spread across 56 countries and 194 service delivery centers across the world, the company has been recognized as a top employer in six continents. With the ability to rapidly apply and scale new technologies, the company has built long term partnerships with its clients. Many of these relationships have endured into decades and navigated every technology cycle, from mainframes in the 1970s to artificial intelligence today. TCS sponsors 14 of the world’s most prestigious marathons and endurance events, including the TCS New York City Marathon, TCS London Marathon, Tata Mumbai Marathon, and TCS Sydney Marathon with a focus on promoting health, sustainability, and community empowerment. TCS generated consolidated revenues of over US $30 billion in the fiscal year ended March 31, 2026.