TCS Expands Euroclear Partnership to Modernise Sweden’s Securities Infrastructure
TCS BaNCS and Quartz platforms to support Euroclear's Nordic transformation strategy across Sweden and Finland
Under the agreement, Euroclear Sweden will deploy TCS BaNCS for Market Infrastructure and Quartz, TCS' digital solutions platform, to build a resilient, scalable and future-ready CSD platform aligned with evolving European market standards.
Mumbai/Stockholm: Tata Consultancy Services (TCS) has expanded its long-standing partnership with Euroclear Group to modernise Sweden’s central securities depository (CSD), strengthening its position in the global financial market infrastructure space.
Under the agreement, Euroclear Sweden will deploy TCS BaNCS for Market Infrastructure and Quartz, TCS’ digital solutions platform, to build a resilient, scalable and future-ready CSD platform aligned with evolving European market standards.
The initiative forms a key part of Euroclear’s Nordic transformation strategy aimed at creating a harmonised securities ecosystem across Sweden and Finland. The programme will standardise business and technology operations while enabling compliance with European regulations and improving operational efficiency.
TCS BaNCS for Market Infrastructure will support end-to-end operations across multiple asset classes, including registry services, depository functions, cross-border settlement and asset servicing. Quartz will complement the platform by leveraging distributed ledger technology (DLT) and artificial intelligence capabilities to support tokenised assets, decentralised settlements and real-time operational insights.
The transformation programme also includes the phased migration of the Swedish market to the European Central Bank’s TARGET2-Securities (T2S) platform, which is designed to facilitate secure and efficient pan-European securities settlement.
Hanna Vainio, CEO of Euroclear Sweden and Finland, said the collaboration would play a central role in advancing the organisation’s “One Nordic” vision.
“Having established one of Europe’s most advanced CSD infrastructures in Finland, we are pleased to extend our decade-long partnership with TCS to Sweden. This collaboration is a pillar of our ‘One Nordic’ vision, allowing us to harmonise business and IT practices onto a single, resilient platform,” she said.
R Vivekanand, President, BFSI Products & Platforms at TCS, said the initiative builds on the successful deployment of the platform in Finland and represents a significant step towards harmonising Nordic market infrastructure.
“We are pleased to expand our relationship with the Euroclear Group through this strategic multi-country harmonisation initiative. Building on our joint success in Finland, we look forward to bringing high levels of functionality, standards compliance and technology innovation to the Nordic market,” he said.
According to TCS, the BaNCS platform offers support for multiple settlement models, omnibus and end-investor accounting, and liquidity optimisation capabilities across securities and cash. The platform also complies with major European and global regulatory standards, including CSDR, SMPG and CAJWG frameworks. Quartz additionally supports both ISO 15022 and ISO 20022 messaging standards, facilitating a smoother transition to modern financial messaging infrastructure.
The latest engagement further strengthens TCS’ presence in the global capital markets infrastructure segment, where financial institutions are increasingly investing in cloud-ready, AI-enabled and interoperable platforms to meet evolving regulatory and operational requirements.
About TCS
Tata Consultancy Services (TCS) is a global IT services, consulting and business solutions company with operations in 56 countries and 194 delivery centres worldwide. The company reported consolidated revenue of more than $30 billion for the financial year ended March 31, 2026.
