Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) announced that its Quartz for Markets solution was named the Outstanding Innovation of the Year at the Industry Excellence Awards instituted by the Asset Servicing Times.
Quartz for Markets helps firms service the digital asset lifecycle across business functions including issuance, custody and asset servicing by integrating with existing IT landscapes seamlessly. The solution comes with configurable templates for a wide array of tokenized assets, allowing the issuer community to raise capital from a diverse investor base across markets, while allowing for diversification of investment portfolios. The solution provides sophisticated custody models, including omnibus, segregated and proprietary holding models along with institution-grade security features. Built on the premise of co-existence, integration and interoperability, it enables firms to fast track their innovation and growth strategy by easily adding new age tokenized assets to the traditional set of assets they manage.
"The Asset Servicing Times Industry Excellence Awards are dedicated to supporting and recognizing talented and dedicated firms, individuals and departments across the financial services industry. We work with The Securities Services Advisory Group (TSSAG), a forum for independent thought leadership to shortlist and judge the winners. We commend Tata Consultancy Services' Quartz for winning the Outstanding Innovation award. The nomination was about how blockchain is being deployed in a purpose-driven, meaningful manner by market infrastructures institutions, custodians, banks and other players offering services around traditional as well as tokenized securities," said Justin Lawson, Co-founder and Publisher, Asset Servicing Times.
R Vivekanand, President, BFSI Products & Platforms, TCS, said, "We are delighted to receive this innovation award for Quartz. TCS has been continuously investing in creating next-gen solutions that leverage cutting edge technology. Our Quartz solution is architected on the premise that tokenized digital assets will coexist with conventional assets, and enables clients to drive differentiation and growth. The solution builds on TCS' position as one of the leading providers in the market infrastructure and asset servicing space."
Quartz for Markets offers end-to-end next generation services around tokenized securities to drive future growth for MIIs including exchanges, depositories, central banks, payment infrastructures, as well as private banks, custodians, and issuers. The solution offers a comprehensive set of services for managing tokenized and digital assets including issuance, custody, secondary market trading, settlement, and surveillance. It supports digital asset servicing, including eVoting/general meeting services.
Quartz for Markets provides a choice of settlement in fiat currencies, cryptocurrencies, stable coins and digital currencies, including multiple token standards such as ERC/R3 token SDKs and can be deployed onpremise or in a SaaS model. It also provides robust security features including key management capabilities using Thales HSM, as well as Multi Party Compute (MPC) to safeguard wallet operations.
Shares of Tata Consultancy Services Limited was last trading in BSE at Rs. 3384.35 as compared to the previous close of Rs. 3425.00. The total number of shares traded during the day was 50436 in over 4375 trades.
The stock hit an intraday high of Rs. 3407.85 and intraday low of 3367.85. The net turnover during the day was Rs. 170444851.00.