Northern Trust Transforms Securities Settlement Platform through Collaboration with TCS
Northern Trust (NTRS) has expanded its strategic partnership with Tata Consultancy Services (TCS) to enhance its global securities settlements platform across 99 markets. This collaboration builds upon their existing relationship since 2017, where Northern Trust utilized TCS BaNCS™ for corporate actions and income processing.
The enhanced platform will leverage the TCS BaNCS™ Global Securities Platform to create an integrated securities back office, streamlining trade processing and settlements. The system offers multi-entity, multi-market, and multi-asset class capabilities, supporting both digital and traditional assets with improved AI and analytics capabilities.
Key features include standardized settlement data and processes, multi-currency functionality, ISO 15022/ISO 20022 compliance, and enhanced scalability and resilience. This transformation aims to address increasing liquidity demands and shortened settlement cycles while ensuring efficiency and risk mitigation throughout the trade settlement lifecycle.
Northern Trust (NTRS) ha ampliato la sua partnership strategica con Tata Consultancy Services (TCS) per migliorare la sua piattaforma globale di regolamento titoli in 99 mercati. Questa collaborazione si basa sulla loro relazione esistente dal 2017, in cui Northern Trust ha utilizzato TCS BaNCS™ per le azioni societarie e l'elaborazione dei redditi.
La piattaforma migliorata sfrutterà il TCS BaNCS™ Global Securities Platform per creare un back office titoli integrato, semplificando l'elaborazione e i regolamenti delle transazioni. Il sistema offre capacità multi-entità, multi-mercato e multi-classe di attivi, supportando sia gli attivi digitali che quelli tradizionali con capacità avanzate di intelligenza artificiale e analisi.
Le caratteristiche principali includono dati e processi di regolamento standardizzati, funzionalità multi-valuta, conformità agli standard ISO 15022/ISO 20022 e una maggiore scalabilità e resilienza. Questa trasformazione mira a soddisfare le crescenti esigenze di liquidità e a ridurre i cicli di regolamento, garantendo al contempo efficienza e mitigazione dei rischi durante l'intero ciclo di vita del regolamento delle transazioni.
Northern Trust (NTRS) ha ampliado su asociación estratégica con Tata Consultancy Services (TCS) para mejorar su plataforma global de liquidaciones de valores en 99 mercados. Esta colaboración se basa en su relación existente desde 2017, cuando Northern Trust utilizó TCS BaNCS™ para acciones corporativas y procesamiento de ingresos.
La plataforma mejorada aprovechará la TCS BaNCS™ Global Securities Platform para crear una oficina de back office de valores integrada, agilizando el procesamiento de transacciones y liquidaciones. El sistema ofrece capacidades multi-entidad, multi-mercado y multi-clase de activos, apoyando tanto activos digitales como tradicionales con capacidades mejoradas de inteligencia artificial y análisis.
Las características clave incluyen datos y procesos de liquidación estandarizados, funcionalidad multi-moneda, cumplimiento de ISO 15022/ISO 20022 y una mayor escalabilidad y resiliencia. Esta transformación tiene como objetivo abordar las crecientes demandas de liquidez y ciclos de liquidación más cortos, garantizando al mismo tiempo eficiencia y mitigación de riesgos a lo largo del ciclo de vida de la liquidación de transacciones.
노던 트러스트(NTRS)는 타타 컨설턴시 서비스(TCS)와의 전략적 파트너십을 확장하여 99개 시장에서 글로벌 증권 결제 플랫폼을 강화했습니다. 이 협력은 2017년부터 시작된 기존 관계를 바탕으로 하며, 노던 트러스트는 TCS BaNCS™를 사용하여 기업 행동 및 수익 처리를 진행해 왔습니다.
강화된 플랫폼은 TCS BaNCS™ Global Securities Platform을 활용하여 통합된 증권 백 오피스를 생성하고 거래 처리 및 결제를 간소화합니다. 이 시스템은 다중 주체, 다중 시장 및 다중 자산 클래스 기능을 제공하며, 디지털 자산과 전통 자산 모두를 지원하고 향상된 AI 및 분석 기능을 갖추고 있습니다.
주요 기능으로는 표준화된 결제 데이터 및 프로세스, 다중 통화 기능, ISO 15022/ISO 20022 준수, 그리고 향상된 확장성 및 회복력이 포함됩니다. 이 혁신은 증가하는 유동성 수요와 단축된 결제 주기를 해결하는 동시에 거래 결제 생애 주기 전반에 걸쳐 효율성과 리스크 완화를 보장하는 것을 목표로 합니다.
Northern Trust (NTRS) a élargi son partenariat stratégique avec Tata Consultancy Services (TCS) pour améliorer sa plateforme mondiale de règlement des titres dans 99 marchés. Cette collaboration s'appuie sur leur relation existante depuis 2017, où Northern Trust a utilisé TCS BaNCS™ pour les actions d'entreprise et le traitement des revenus.
La plateforme améliorée tirera parti de la TCS BaNCS™ Global Securities Platform pour créer un back-office de titres intégré, rationalisant le traitement des transactions et les règlements. Le système offre des capacités multi-entités, multi-marchés et multi-classes d'actifs, soutenant à la fois les actifs numériques et traditionnels avec des capacités améliorées d'IA et d'analyse.
Les fonctionnalités clés incluent des données et des processus de règlement standardisés, une fonctionnalité multi-devises, la conformité aux normes ISO 15022/ISO 20022, ainsi qu'une évolutivité et une résilience accrues. Cette transformation vise à répondre aux demandes croissantes de liquidité et à réduire les cycles de règlement tout en garantissant efficacité et atténuation des risques tout au long du cycle de vie du règlement des transactions.
Northern Trust (NTRS) hat seine strategische Partnerschaft mit Tata Consultancy Services (TCS) erweitert, um seine globale Wertpapierabwicklungsplattform in 99 Märkten zu verbessern. Diese Zusammenarbeit baut auf ihrer bestehenden Beziehung seit 2017 auf, in der Northern Trust TCS BaNCS™ für Unternehmensaktionen und Einkommensverarbeitung genutzt hat.
Die verbesserte Plattform wird die TCS BaNCS™ Global Securities Platform nutzen, um ein integriertes Wertpapier-Backoffice zu schaffen, das die Handelsabwicklung und -regulierung optimiert. Das System bietet Multi-Entity-, Multi-Markt- und Multi-Asset-Klassen-Funktionen und unterstützt sowohl digitale als auch traditionelle Vermögenswerte mit verbesserten KI- und Analysefähigkeiten.
Zu den wichtigsten Funktionen gehören standardisierte Abwicklungsdaten und -prozesse, Multi-Währungsfunktionen, ISO 15022/ISO 20022-Konformität sowie verbesserte Skalierbarkeit und Resilienz. Diese Transformation zielt darauf ab, den steigenden Liquiditätsbedarf und verkürzte Abwicklungszyklen zu adressieren und gleichzeitig Effizienz und Risikominderung während des gesamten Lebenszyklus der Handelsabwicklung sicherzustellen.
- Platform expansion across 99 global markets
- Enhanced AI and analytics capabilities
- Improved scalability and operational efficiency
- Support for both digital and traditional assets
- None.
Insights
Northern Trust's expanded partnership with TCS to enhance its securities settlement platform represents a strategic operational upgrade addressing critical industry challenges. This technology transformation directly responds to the global push toward shortened settlement cycles - particularly the T+1 implementation that has been rolling out across major markets.
The enhancement of Northern Trust's settlement infrastructure across 99 global markets provides several competitive advantages. By standardizing settlement processes and integrating with their existing TCS corporate actions platform, Northern Trust can create operational efficiencies through reduced manual intervention and improved straight-through processing rates. The explicit mention of AI capabilities suggests potential for predictive analytics to identify settlement fails before they occur and optimize liquidity management.
Particularly noteworthy is the platform's support for both traditional and digital assets within the same infrastructure. This dual capability positions Northern Trust ahead of many competitors still maintaining separate systems for conventional and blockchain-based settlement. The ISO 20022 compliance ensures Northern Trust remains aligned with global messaging standards adoption that continues to reshape cross-border settlement.
From an operational risk perspective, standardized settlement processes across markets should reduce exception handling and error rates. However, as with any major back-office transformation, the implementation timeline and change management will be critical success factors not addressed in the announcement.
Northern Trust Announces Expanded Capabilities as Part of its Ongoing Technology Transformation Strategy
Northern Trust has leveraged TCS BaNCS™ for corporate actions and income processing since 2017. This latest collaboration gives Northern Trust access to the TCS BaNCS™ Global Securities Platform which offers multi-entity, multi-market and multi-asset class capabilities to help create an integrated securities back office and streamline trade processing and settlements.
Jennifer Driscoll, head of Market Operations at Northern Trust, said, “As liquidity demands continue to drive shortened settlement cycles, it’s critical for market participants to have resilient interoperable solutions that seamlessly integrate with corporate action and income processing. Our collaboration with TCS BaNCS™ strengthens our ability to support clients in navigating these evolving market dynamics, ensuring efficiency, accuracy and risk mitigation throughout the trade settlement lifecycle.”
Using the TCS BaNCS™ Global Securities Platform, Northern Trust will be able to further standardize its settlement data and processes, as well as enhance AI and analytics capabilities for both digital and traditional assets. The platform will offer scalability and resilience. In addition to harmonizing global settlement processes, the platform will comply with regional practices using multi-entity, multi-currency, and ISO 15022/ISO 20022 compliant technology.
Venkateshwaran Srinivasan, Global Head, Financial Solutions, TCS, said, “We continue to invest in enhancing our technology platforms to help the post-trade industry maximize cloud capabilities, reduce risks, adopt standardized models, leverage harmonized data, and compress settlement timelines. This significant expansion of our collaboration with Northern Trust is a testament to our vision for the global securities industry, and a validation of the breadth and depth of capabilities of TCS BaNCS™ that have helped leading global custodians create enriched and consistent client experiences across multiple markets and asset classes.”
About TCS BaNCS Global Securities Platform
The TCS BaNCS Global Securities Platform is a SWIFT-certified, scalable, integrated offering with comprehensive functionality encompassing the entire capital market’s value chain. The solution is implemented at leading custodians, investment banks, fund and asset managers and brokers, ensuring consistent customer experience and service level across markets, resting on an advanced data strategy. Its digital core helps customers use the right data to unlock game-changing insights, KPIs and predictions, while its multi-x features encompass multiple legal entities, languages, business lines, asset classes, markets and geographies.
About Tata Consultancy Services
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 56 years. Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group,
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in
Northern Trust Corporation, Head Office: 50 South La Salle Street,
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Media Contacts
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Camilla_Greene@ntrs.com
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John O’Connell
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Source: Northern Trust Corporation
FAQ
What is the scope of Northern Trust's (NTRS) new securities settlement platform enhancement?
How will the TCS BaNCS platform improve NTRS's settlement operations?
When did Northern Trust (NTRS) first partner with TCS for securities processing?
What technical standards does the new NTRS settlement platform comply with?
