Kuwait Clearing Company
Maroclear
Single integrated system
modernizes depository platform
Maroclear continues technology
leadership with innovative cross-
border settlement on blockchain
Kuwait Clearing Company (KCC), the central clearing, settlement, and
depository entity for all securities and derivatives traded at the Boursa
Kuwait, has modernized its depository platform with the implementation
of TCS BaNCS for Market Infrastructure as a single integrated system.
The successful implementation of TCS BaNCS for Market
Infrastructure was accomplished without disrupting business operations
and well in advance of the marketplace transition, including NASDAQ’s
scheduled upgrade of trading software at the Kuwait Stock Exchange
(KSE).
With TCS BaNCS, KCC has deployed a proven, unified clearing
solution for the cash and derivatives markets having several business
advantages:
l Depository and registrar services on a single platform
l Automated payments and fund transfer using the SWIFT network
l Increased flexibility and reach of all market participants
l Usage of international standards and practices such as ISIN-based
identifiers and ISO 15022
The deployment of TCS BaNCS has helped KCC to significantly
decrease the time required for payments processing, while also
deploying automation to reduce manual errors, thereby increasing data
Nine years ago, Maroclear implemented
depository and settlement solutions of the TCS
BaNCS Market Infrastructure product to provide
a world-class multi-asset class depository to its
participants. With this solution, Maroclear was able
to reengineer post-market procedures in Morocco,
strengthening the security and integrity of the
market and, consequently, making Morocco more
attractive to domestic and international investors.
Continuing as a technology innovator, Maroclear,
in conjunction with Kuwait Clearing Company,
recently conducted a successful test using
blockchain for cross-border securities settlement.
For more information about the blockchain
pilot conducted between Maroclear and Kuwait
Clearing Company, see the Quartz pull-out section
in this newsletter.
reliability and security.
In addition, KCC has simplified corporate actions processing, enabled
real-time dematerialization and rematerialization of securities, rolled out
analytics features, and delivered an improved user experience through
mobile apps and a browser-based interface.
Philippine
Depository & Trust Corp.
TCS BaNCS transforms PDTC’s operations through
a first-of-a-kind implementation in Asia
Philippine Depository & Trust Corp (PDTC) recently implemented TCS BaNCS
for Market Infrastructure as Asia’s first comprehensive depository system.
Customized to suit the Philippines’ unique market practices, TCS BaNCS
World Forum
of CSDs
TCS was Diamond Sponsor of the
World Forum Conference of CSDs,
now supports PDTC’s role as being Asia’s first comprehensive depository, with WFC 2019, hosted by Maroclear and
capabilities including: the Africa & Middle East Depositories
l Depository, registry, and custody on a single platform
l Integrated depository system, capable of managing delivery and payment
l Interface to the RTGS payment system of the central bank of the Philippines
l Ability to reinforce immobilized and dematerialized securities
l Operational flexibility in custody and depository instances
Association (AMEDA). R Vivekanand,
Vice President and Co-Head,
TCS Financial Solutions, shared
insights on how Blockchain, AI and
Machine Learning will shape the
future of Market Infrastructure.
25