Real Time Gross Settlement


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Real Time Gross Settlement

An online system allowing the instantaneous transfer of funds and securities between banks. Real time gross settlement exists to settle large transactions between banks so that they can continue to extend credit to each other and to customers. Examples include the fed wire in the United States and CHAPS in the United Kingdom.
References in periodicals archive ?
The real time gross settlement system (SATNA) is a kind of electronic system which performs the processing and settlement of the payment mandates in gross, singular and real time forms (payments systems, 2009).
With the RBI planning to develop a 24x7 processing system, even the retail payment segment will soon enjoy the Real Time Gross Settlement experience ( limited to transfers of over Rs 1 lakh).
The first deliverable is a DIFC - based Euro and US dollar Real Time Gross Settlement (RTGS) system that settles legally and operationally outside of the United States and Europe, respectively.
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.
15 that it has won a contract from the Central Bank of Trinidad & Tobago to implement a Real Time Gross Settlement (RTGS) system and Government Securities Settlement system.
Based on an interbank real time gross settlement system, the new U.
Fundtech -- Provides PAYplus RTGS, a client/server funds transfer payment system that supports payment processing, liquidity management, and Real Time Gross Settlement capabilities on Compaq ProLiant and AlphaServer platforms.
The new interbank payment system is based on CAS (Central Accounting System), a real time gross settlement product implemented in Ireland, Luxembourg and Turkey.
CLS Bank links to the Real Time Gross Settlement systems operated by Central Banks in seventeen currencies (US Dollar, euro, UK Pound Sterling, Japanese Yen, Swiss Franc, Canadian Dollar, Australian Dollar, Swedish Krona, Danish Krone, Norwegian Krone, the Singapore Dollar, the Hong Kong Dollar, the New Zealand Dollar, the Korean Won, the South African Rand, the Israeli Shekel and the Mexican Peso).
A glitch that occurred on 20th October during routine maintenance hit the Bank of England (BoE)'s Real Time Gross Settlement System (RTGS), which further thwarted payments processing between 6am to around 4pm.
There has been continuous technological revolution in the banks and financial institutions in the form of ATMs, core banking, e-banking, mobile banking, and consequently many services came into existence such as Real Time Gross Settlement (RTGS), Centralized Fund Management System (CFMS), Public Debt Offices-Negotiated Dealing System (PDO-NDS), Structured Financial Messaging System, Point Of Sales (POS), and use of credit, debit, and smart cards among others.

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