Real-time gross settlement (RTGS)
The trade-off between shorter settlement times and multilateral netting benefits in deferred net settlement
This paper investigates settlement windows in multilateral netting in the US equity markets, finding that there is no material loss of multilateral netting benefits for windows over an hour.
Monitoring intraday liquidity risks in a real-time gross settlement system
This paper proposes an intraday liquidity risk indicator (LRI) for each participant in a real-time gross settlement system (RTGS).
How much liquidity would a liquidity-saving mechanism save if a liquidity-saving mechanism could save liquidity? A simulation approach for Canada’s large-value payment system
This paper investigates how much liquidity requirements can be reduced with the implementation of different LSMs in the Financial Network Analytics simulation engine using LVTS transaction data from 2018.
Facebook’s libra could disrupt collateral markets – IMF paper
Collateral used to back ‘stablecoins’ such as libra will be unavailable for reuse
Identification of interbank loans and interest rates from interbank payments: a reliability assessment
The authors investigate the reliability of the “Furfine filter” often used to identify interbank loans and interest rates from interbank payments settled at central banks.
UBS exec: first trades via USC could take place this year
Risk Live: utility settlement coin project backed by group of banks moving “incredibly fast”
Stoplight system could spot imminent meltdowns – study
Proposed traffic light system sifts through transaction data for signs of trouble
What kind of payments settle in a real time gross settlement system? The case of Norges Bank’s settlement system (NBO)
A good understanding of the kinds of payments that settle in a central bank real time gross settlement (RTGS) system is useful for both overseers and operators, but no study exists that attempts to systematically categorize all payments settling in an…
Crypto or super-correspondents: central banks look to the future
Research lays out three ways forward for cross-border payments
FMIC 2 special issue introduction: a policy view on developments in the field of financial market infrastructures
This introductory article positions these papers and speeches within the context of the wider conference proceedings of the Financial Market Infrastructure Conference II: New Thinking in a New Era, including insights from the panel sessions and…
CLS to replace core settlement system
Overhaul will leverage conventional technology rather than blockchain solution that underpins new CLSNet service
Netting no problem for blockchain, tech firms tell regulators
Firms say DLT can sit with current market practice, but instantaneous settlement 'not desirable'
BoE lays out blueprint for RTGS reboot
Central bank plans “comprehensive rebuild” of payments platform
HKEx: real-time settlement key to cross-currency swap clearing
JSCC and KRX also said to be working on cross-currency swap clearing offerings
Banks eye Traiana for EM forex netting service
Industry turns to utility as CLS emerging markets push stalls
Top 10 op risks 2015: cyber risk
Major systems failures likely to continue
Bank of England disaster protocol questioned
Weaknesses highlighted after payment system failure
Faster payments in Denmark
A number of countries are introducing faster settlement of retail payments due to increasing consumer demand.