TCS to modernise Muscat Clearing & Depository system under new agreement

Tata Consultancy Services (TCS), India’s largest IT services company, has announced an agreement to modernise the depository system of Muscat Clearing and Depository (MCD), Oman’s central securities depository, according to a report by the PTI.

As part of the deal, TCS will implement its flagship platform, TCS BaNCS for Market Infrastructure, alongside Quartz, to enhance MCD’s Clearing, Settlement, and Depository (CSD) services. The financial details of the agreement were not disclosed by the TCS.