

TCS, Nasdaq vying for NCDEX equity platform vendor deal
Subscribe to enjoy similar stories. India's only agri derivatives exchange National Commodity and Derivatives Exchange Ltd (NCDEX) is evaluating technical proposals from reputed global vendors—including its existing vendor LSEG (London Stock Exchange Group), US-based Nasdaq, London-headquartered Aquis and India's largest software exporter Tata Consultancy Services Ltd (TCS)—for its equity and equity derivatives platform slated for launch in the next fiscal year, according to a person aware of the development.
All the shortlisted vendors whose proposals are being evaluated have a track record in providing systems to stock exchanges, the person added. TCS, for instance, provides the exchange trading platform for commodity derivatives bourse MCX.
Asked to confirm the development, Arun Raste, managing director and chief executive officer of NCDEX, declined to comment, saying the matter was "confidential". Queries to Nasdaq, Aquis, LSEG and TCS remained unanswered until press time.
Raste, however, said that after NCDEX got Securities and Exchange Board of India's (Sebi's) nod for the equity cash and derivatives platform in September, it is looking to launch the equity segment by December 2026, followed by the equity derivatives segment in March 2027. "Post the launch of the mutual fund transaction platform by April next year, we are targeting the equity cash and equity derivatives segments for launch in FY27," he said.
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