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 ?
The first project will consolidate the Eurosystem's real-time gross settlement system TARGET2 and the securities settlement platform TARGET2-Securities (T2S) and will provide market participants with enhanced liquidity management procedures.
ACI Worldwide , a leading global provider of real-time electronic payment and banking solutions, announced today that it is the first provider globally to receive SWIFT gpi certification for the Universal Payments (UP) Real-Time Payments solutionthe industrys only solution that allows financial institutions (FIs) to address their Real Time Gross Settlement (RTGS), SWIFT messaging and real-time payments needs with a single, universal offering.
The apex bank said that commercial banks can no longer take Short Message Service (SMS) charges on bulk bank transfers completed through the Real Time Gross Settlement (RTGS) system.
BANKING AND CREDIT NEWS-April 12, 2017-Central Bank of Iceland selects SIA for real-time gross settlement system
M2 EQUITYBITES-April 12, 2017-Central Bank of Iceland selects SIA for real-time gross settlement system
Volante Technologies today announced it has been chosen by Finexus to provide the key MT to MX message transformations in complex multi-currency Real-time Gross Settlement (RTGS) System implementations.
This arrangement will enable value added services to be provided to Citi's customers by NBP by replacing manual instruments with a more efficient electronic transfer mechanism leveraging on the SBP's Real Time Gross Settlement System (RTGS).
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 relevant stock will then be subject to gross settlement 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.