By M Anand, Product Head, and
S Arunprasad and K Venkatakrishnan,
Program Managers,
TCS BaNCS for Market Infrastructure,
TCS Financial Solutions
Strate is South Africa’s
principal Central Securities
Depository (CSD),
managing record keeping
and custody for equities, bonds,
money market and derivatives
in South Africa.
In this capacity, Strate supports multiple
customers, including stock exchanges (JSE, A2X,
ZARX, 4AX and EESE), issuers, CSD participants,
lending desks, the South African Reserve Bank,
and the National Treasury of the South African
government.
Strate also facilitates collateral management,
securities lending and borrowing, and corporate
actions processing for customers in the South
African capital markets.
For many years, Strate operated separate systems
for each asset class (money market, bonds, and
equities). Although these systems were regularly
updated with new capabilities, multiple technology
limitations were holding back implementation of
global best practices and creating a fragmented
interface to customers across asset classes.
As a result, Strate made a strategic decision to
replace its legacy systems with TCS BaNCS for
Market Infrastructure.
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