NETS Real-Time Gross Settlement
Settle domestic and cross-border payment transactions in real time
NETS Real-Time Gross Settlement (RTGS) enables the finality and irrevocable settlement of large-value interbank funds transfers in real-time throughout the day. This enables the Central Bank to manage interbank high-value payments settlement risks and implement regulatory and monetary controls in the financial market.
About
What is NETS Real-Time Gross Settlement?
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KEY FEATURES
Why NETS Real-Time Gross Settlement?
Settlement
Provides final and irrevocable settlement of payment instructions on a real-time gross settlement basis, with the ability to integrate and process Net Settlement Files from various payment systems for finality. Supports Delivery-versus-Payment (DvP) and Payment vs Payment (PvP) models.
Account Management
Supports multiple account structures, including multi-currency accounts and sub-accounts.
Liquidity Management
Rule-based engine to control, hold or release settlement transactions and allow allocation of funds for a specific purpose. Liquidity saving mechanism with multilateral and bilateral net settlement to offset payments in queue based on defined parameters. Gridlock resolution algorithms that can either be manually activated or automated by pre-defined parameters to free up liquidity. Supports an intraday liquidity facility to provide liquidity to Participants to fund shortfalls through automated collateralisation of securities and allows automated fund sweeping between accounts.
Message Transformation & Processing
Message transformation capability to convert proprietary messages and SWIFT message formats. Supports SWIFT MT, MX (ISO 20022) and mixed MT-MX environment, with flexible business rules for validation of payment instructions from multiple channels such as SWIFT or a Non-SWIFT Private Network.
Provides an overview of payments in queue with queue re-prioritisation, hold and cancellation features.
Offers standard operational and customisable reports, together with rich enquiry list for both Central Bank and Participant to extract data and perform analytics.
Supports payment and securities settlement messages through multiple alternative channels in the event of a contingency, plus manual workflow for transfer of payment files and interface files to external systems.
Automated billing and flexible billing parameters for billing rates and cycles.
Settlement
Provides final and irrevocable settlement of payment instructions on a real-time gross settlement basis, with the ability to integrate and process Net Settlement Files from various payment systems for finality. Supports Delivery-versus-Payment (DvP) and Payment vs Payment (PvP) models.
Account Management
Supports multiple account structures, including multi-currency accounts and sub-accounts.
Liquidity Management
Rule-based engine to control, hold or release settlement transactions and allow allocation of funds for a specific purpose. Liquidity saving mechanism with multilateral and bilateral net settlement to offset payments in queue based on defined parameters. Gridlock resolution algorithms that can either be manually activated or automated by pre-defined parameters to free up liquidity. Supports an intraday liquidity facility to provide liquidity to Participants to fund shortfalls through automated collateralisation of securities and allows automated fund sweeping between accounts.
Message Transformation & Processing
Message transformation capability to convert proprietary messages and SWIFT message formats. Supports SWIFT MT, MX (ISO 20022) and mixed MT-MX environment, with flexible business rules for validation of payment instructions from multiple channels such as SWIFT or a Non-SWIFT Private Network.
