Gross Settlement

Gross Settlement

In foreign exchange, a way to settle a transaction in which the buyer directly pays the seller. This contrasts with the normal way to settle securities transactions, which involves using a clearing house. See also: Clearance.
References in periodicals archive ?
Under the terms of the deal, eBay will set up a Gross Settlement Fund in the amount of $6,400,000.
Home buyers and sellers were left in limbo for most of the day during the ten-hour outage on October 20, unable to complete transactions until the problem with the Real Time Gross Settlement (RTGS) system was fixed.
As it was mentioned, executing of the real time gross settlement system (SATNA) is one of the services of the payment system of the country.
The Reserve Bank of India launched the Real Time Gross Settlement (RTGS) system to facilitate the transfer of large value funds.
In the event that the first circuit breaker remains ineffective, that is, the abnormal price or quantity movement persists and provided that other pre-determined conditions exist after the circuit breaker is off, the system will automatically apply a circuit breaker, effective until the end of the day, and as a new precaution, the relevant stock will be subject to gross settlement on the following trading day.
SBP/PRI introduces the PRI Payment Mechanism for settlement of interbank home remittance transactions through Real Time Gross Settlement (RTGS) system under SBP circular dated August 22, 2009.
All payments, except for payments transferred to the public budget and Social Fund, should be made in these banks using gross settlement systems.
The Bulgarian National Bank (BNB) has announced that it will join TARGET2*, a real-time gross settlement system (RTGS) for Euro transactions, on February 1, 2010.
The bank's branches in New Delhi zone offer core banking solution ( CBS), Internet banking, SMS banking and fund transfer through real time gross settlement ( RTGS).
eToken initially protects access to four key bank processes, including its Real Time Gross Settlement (RTGS) solution, a settlement solution to enable funds settlement across banks on real time basis; its Structured Financial Messaging System (SFMS), a SWIFT-like Messaging System which serves as a safe, secure communication carrier of intra and inter bank messages; its Multimedia Messaging Service (MMS); and eProcurement.
Real-time gross settlement (RTGS) systems such as the Federal Reserve's Fedwire Funds Service enable participating banks to settle payments immediately and in the full amount; however, the high level of liquidity inherent in the systems requires large intraday credit extensions.
In March 1999, however Real-time Gross Settlement (RTGS) was established in NBO.