New generation trading system for CFETS goes live across China with TCS

Tata Consultancy Services, a provider of IT services and business solutions, has announced that the reminbi currency trading platform for the Chinese inter-bank market, an initiative of China Foreign Exchange Trade System, a subsidiary of People's Bank of China, has gone live nationwide.

The New Generation CNY Trading System (NGCNYTS) is a forward-looking trading system, which aims to incorporate the future vision of the Chinese interbank market and designed to meet the growing requirements of the Chinese financial market with risk management and real-time monitoring systems, said Tata Consultancy Services (TCS).

TCS added that the NGCNYTS also supports multiple trading methods and provides unified platform across debt, money and derivative markets.

Girija Pande, executive vice president and head of TCS Asia Pacific, said: "We are extremely pleased to successfully deliver the China Foreign Exchange Trade System (CFETS) project built based on our experience in other global markets and in close co-operation with CFETS who have experience in the Chinese domestic market.

"It also provides flexibility to connect with third party front ends and other external interfaces. Deploying in 10 markets at a time is a unique challenge which TCS could complete successfully."

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