Banking Technology September 2019 issue out now
Thriving in a hyper-connected world.
Clearing & Settlement
Nationwide and ClearBank partner for new business account
The partnership will provide access to real-time payments.
Moors and Cabot selects RBC as new clearing partner
This will enhance the firm’s back-office capabilities.
SIA and Colt join Swift as ESMIG connectivity providers
Single market access is scheduled from November 2021, with the ECB overseeing the tender process.
ABX wins approval for crypto asset exchange and custodian
The exchange has its eyes set on bridging the gap between the MENA region and the rest of the world.
Swift awarded ESMIG network service provider status
Swift will be supporting its customers through their Target consolidation projects and the migration to ESMIG.
Doxo to provide electronic billpay solution to RR Donnelley & Sons
Doxo’s payment solution enables customers to access and pay bills from more than 45,000 providers
Vocalink to revamp Peru’s payments system
Teams with Cámara de Compensación Electrónica for real-time upgrade.
Mark Carney’s backdoor to the European financial system
The boom in fintech investment should not be taken for granted.
Bankgirot awards $77m IT outsourcing contract to Evry
30+ employees of Bankgirot will be offered new positions at Evry as part of the seven-year deal.
Deutsche Bundesbank and Deutsche Börse blockchain tests deliver promising results
The prototypes support the settlement of securities transactions and payments at the maturity of a bond.
Key ingredients of instant payment systems success
Gain a unique insight into how SWIFT is driving instant payments.
Demand Derivatives teams up with GMEX for new exchange and clearing house
GMEX also takes minority stake in Demand Derivatives.
Nacha acquires Business Payments Directory Association
The union seeks to improve B2B payments in the US.
Standard Bank’s online escrow service Shepherd meets its end
No explanation as to how or why from the South African bank.
Bank of England confirms blockchain viability for RTGS
DLT-based settlement with central bank money is alive and kicking.
SIX to use Nasdaq’s clearing and risk management tech
Across pan-European equities and Nordic derivatives.
India’s stock exchange teams with Nasdaq for tech boost
Aiming to increase efficiency and effectiveness of the market.
NPSO takes charge of UK cheque clearing systems
Supported by its two new deals with the C&CCC and UKPA.
Playing catch-up: post-trade modernisation vital for Nordic banks’ global ambitions
A key part of the Nordic banking industry is under pressure to modernise its post-trade operations tech.
SIA feeling TIPS-y with Eurosystem certification
First network service provider to get certification from the Eurosystem.
Shieldpay powers UK’s first digital real estate transaction
A big real estate market to transform.
Bacs and Faster Payments transferred to New Payment System Operator
Bacs and Faster Payments process a combined £6.3 trillion worth of payments annually.
Addressing liquidity challenges in T+2 securities settlement
With less time to secure funding for securities trades, faster settlement in FX could be the solution.
BNP Paribas selects SmartStream’s fees and expense management solution
The derivatives execution and clearing (DEC) business of BNP Paribas has implemented SmartStream Technologies transaction lifecycle management (TLM) Fees and Expense Management (FEMS) solution.
EBA Clearing’s RT1 payments system gets Swift access
Users of EBA Clearing’s instant payment system, RT1, will be able to access the platform via Swift’s SwiftNet Instant solution from November 2018. According to Swift, its solution will address all RT1 customer requirements, including instant messaging, file transfers and a browse solution. Erwin Kulk, head of service development and management, EBA Clearing, says: “RT1 […]
Analysis: the trend toward best practice in institutional FX settlement
Marisa Kurk, senior managing director and COO of Mesirow Financial Currency Management group, explores best practices in foreign exchange (FX) settlement.
Commerzbank, KfW and MEAG simulate blockchain-based security transaction
Commerzbank, KfW Banking Group and MEAG, the asset manager of Munich Re and ERGO, have replicated a jointly traded euro commercial paper (ECP) in a blockchain environment.
BitFlyer competes for Japanese Bankers Association’s blockchain experiment attention
Tokyo-based Bitcoin exchange BitFlyer has been selected as a partner vendor to provide an experimental environment for the Japanese Bankers Association’s “collaborative blockchain platform”. BitFlyer’s proprietary blockchain technology – Miyabi – will be used and the platform is scheduled to begin operation in October. Miyabi is a private blockchain “exclusively” for enterprise users. The experiment […]
Six new banks join UBS-led utility settlement coin plan
The UBS-led effort to create a digital cash model for payments and settlement on blockchain has got six new banks onboard, according to the Financial Times. As Banking Technology reported in August last year, BNY Mellon, Deutsche Bank, ICAP and Santander joined UBS and Clearmatics to advance their utility settlement coin (USC) concept, and plan […]
Eftpos Australia launches new settlement service
Eftpos Australia, the nation’s most widely used debit card payments system, has unveiled its new eftpos Settlement Service (eSS). According to Eftpos, eSS enables the centralised settlement of CHQ (cheque) and SAV (savings) transactions processed via the Eftpos Hub. Paul Jennings, Eftpos acting CEO, says the implementation took 18 months and with all members now […]
Russia’s CSD develops blockchain platform with Waves
National Settlement Depository (NSD), Russia’s central securities depository (CSD), and Waves, a decentralised platform for launching crowdfunding campaigns and issuing digital assets, have embarked on a blockchain project.
Bank of England opens up RTGS service to fintech competition
The Bank of England (BoE) is opening up access to settlement accounts in its real-time gross settlement (RTGS) system with the goal to promote fintech innovation and competition. The bank says it’s extending access to non-bank payment service providers (PSPs), offering direct access to the UK’s sterling payment systems. The UK’s Financial Conduct Authority (FCA), […]
TMX Group to overhaul clearing and settlement tech with TCS Bancs
Canada’s TMX Group has recruited TCS to help it renovate its clearing and settlement business technology. The Indian vendor will provide “a single, integrated technology platform” to TMX – TCS Bancs for Market Infrastructure – to replace disparate legacy systems deployed by the Canadian Depository for Securities Limited (CDS) and Canadian Derivatives Clearing Corporation (CDCC).
ECB to develop service for settlement of instant payments
The Governing Council of the European Central Bank (ECB) says it will develop a new service for the settlement of instant payments. The new service, Target instant payment settlement (TIPS), will enable citizens and firms to transfer money between each other in real-time and will be available around the clock, 365 days a year. The […]
Vontobel pioneers SIX Securities Services’ Advanced Settlement solution
Swiss wealth manager Vontobel has become the first taker of SIX Securities Services’ Advanced Settlement offering.
Swift unveils “first ever” cross-border payments tracker
Corporate treasurers have a moment to treasure as Swift has unveiled its new cross-border payments “Tracker” for real-time tracing. Swift says Tracker is the “cornerstone” of its global payments innovation (gpi) initiative – which went live in February – with the aim to deliver greater speed, transparency and end to end tracking. Tracker provides a […]
Bank of England unveils blueprint for new RTGS service
The Bank of England (BoE) has released its blueprint for a renewed real-time gross settlement (RTGS) service for payments in the UK – with plans to interface with blockchain and deal with APIs. On an average day, BoE says RTGS settles around £500 billion between banks – around a quarter of the UK’s annual GDP […]
Central Bank of Iceland chooses SIA for payments overhaul
The Central Bank of Iceland (CBI) has chosen Italian firm SIA to implement and support a new real-time gross settlement system (RTGS) and new instant payment platform. These technology infrastructures developed by SIA, are planned to go live in 2018, and will replace CBI’s current mainframe-based real-time solutions for high and low-value payment systems, which […]
Image is everything for VocaLink and UK’s new cheque tech
VocaLink and BancTec, a part of SourceHOV, a provider of enterprise information management (EIM) and transaction processing solutions, will build the UK’s new image-based cheque clearing system. As Banking Technology reported this month, the Cheque and Credit Clearing Company (C&CCC) launched the industry-wide system to speed up processing for customers across the country. Paul Stoddart, […]
