Cross-Border
Corporate Actions
in Africa
Best Blockchain
Breakthrough of the Year
Pilot with CSCS Nigeria and Standard Bank SA on
Award-winning initiative connects Nigeria’s CSD with
BaNCS Industry Network wins prestigious FTF award
South African custodian Standard Bank
Central Securities Clearing System (CSCS) Plc., the
central securities depository (CSD) of Nigeria, and
Standard Bank, a leading custodian based in South
Africa, completed a pilot to exchange information
for cross-border corporate actions on the BaNCS
Industry Network powered by Quartz blockchain.
In the pilot program, CSCS Nigeria placed corporate
actions announcements for a wide range of events for
equity and fixed income instruments on the BaNCS
Industry Network running on Quartz blockchain. This
gave Standard Bank instantaneous access to accurate
corporate actions information that could be relied
upon for further processing.
Breakthrough of the Year at the 2019 FTF News
“Blockchain represents a unique opportunity
Technology Innovation Awards.
for early adopters interested in transforming their
businesses and industries. CSCS is excited to have
worked together with TCS BaNCS and Quartz
The award was given in recognition of the
successful pilot on cross-border corporate actions
processing conducted by Central Securities Clearing
Solutions on this innovative pilot that has the
potential of generating efficiencies in the financial
markets,” says Haruna Jalo-Waziri, CEO, CSCS Plc,
Nigeria. "This is a significant step towards our vision
of being the globally respected and leading central
securities depository in the region.”
“The innovative BaNCS Industry Network, which
Standard Bank used to connect to Quartz Blockchain,
enabled us to complete the pilot in record time,” says
Charl Bruyns, Head – Investor Services and Financial
Institutions, Standard Bank Group. “The results of
this successful technology pilot present exciting
System (CSCS) Plc. and Standard Bank.
“Successful Business 4.0™ companies are finding
innovative ways to leverage the power of ecosystems
and deliver exponential value to their customers, and
Quartz uses the power of blockchain technology to
enable this,” said R Vivekanand, Vice President and
Co-Head, TCS Financial Solutions. “We are delighted
to receive this award from FTF. It is a recognition
of our thought leadership and ability to stretch the
boundary of what is possible.”
FTF (Financial Technologies Forum) is the leading
provider of executive-level events and training
opportunities for Africa to deepen innovation,
increase efficiency and drive integration in its capital
markets. Standard Bank will continue to work with
TCS to explore ways to develop future-ready digital
solutions for all our stakeholders.”
BaNCS Industry Network, powered by Quartz
Blockchain, was named the Best Blockchain
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focused on trends and initiatives in securities
trading and operations. The prestigious FTF awards
recognize the professionals, financial technology
vendors, service providers, industry bodies, and
regulators that have made significant strides and
noteworthy achievements in operational excellence
in the post-trade industry.
Quartz - 3
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