ICICI Securities partners with TCS to upgrade its retail trading platform

ICICI Securities has announced a strategic partnership with Tata Consultancy Services (TCS) to revamp its retail trading and brokerage platform. This collaboration aims to deliver a high-perrformance trading solution that caters to evolving market demands, utilising the Trading solution of TCS BaNCS™, a leading player in the Indian brokerage sector. "The initiative will focus on enhancing key brokerage functions such as order management, connectivity to major exchanges like BSE, NSE, and MCX, and online risk management, thereby providing an intuitive trading experience for customers," the Indian IT major stated on Tuesday.

TCS's involvement in this collaboration underscores its significant role in the capital markets industry, where it manages nearly 30 per cent of retail trading volumes in India.

"This partnership with a market leader further extends TCS' leadership in the capital markets industry and validates our commitment to delivering best-in-class trading solutions. By transforming ICICI Securities’ brokerage platform, we are not only enhancing its current capabilities but also future-proofing it with cloud readiness, and advanced scalability," said R Vivekanand, President of BFSI Products & Platforms at TCS. The transformation will ensure seamless integration with leading exchanges and support a robust trading ecosystem.

TK Srirang, MD & CEO, ICICI Securities said, "At ICICI Securities, technology has always been at its core. By adopting TCS BaNCS™ we will empower our customers with a seamless and high-performance trading ecosystem. We are delighted to partner with TCS and together we will be creating a future-ready platform for superior customer experience in India's brokerage sector."

TCS mentioned that this initiative reinforces its deep expertise in capital markets. The IT company handles nearly 30 per cent of retail trading volumes in India through its brokerage solutions.

TCS' solutions powers 25+ financial markets globally, including India’s top exchanges across equities, derivatives & commodities and some of the leading exchanges and Central Depositories worldwide.

On the stock-specific front, TCS was down 0.22 per cent at Rs 3,314.30. At this price, the counter has corrected 19.41 per cent year-to-date (YTD).