No they are different:
Traffic Message Channel (TMC) is a technology for delivering traffic and travel information to drivers. It is typically digitally coded using the FM-RDS system on conventional FM radio broadcasts. It can also be transmitted on DAB or satellite radio. It allows silent delivery of high quality accurate, timely and relevant information, in the language chosen by the user and without interrupting normal services. Services, both public and commercial, are now operational in many European countries. When data is integrated directly into a navigation system, this gives the driver the option to take alternative routes to avoid traffic incidents.
TMC is free too so you can't complain ( Well licenced within the initial radio price)
Traffic Master is a different and horrible system that I used to have on my X5.IIRC relies on camera on bridges to calculate traffic movement