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RESERVE BANK OF AUSTRALIA

Approvals Under the Payment Systems and Netting Act 1998

Under the Payment Systems and Netting Act, the Reserve Bank has the power to grant approvals to real-time gross settlement (RTGS) systems and to multilateral netting arrangements. These approvals provide certain legal protections for transactions undertaken in such systems. This page provides links to current approvals and to the relevant media releases.

Approvals under Section 9: Approved RTGS systems
System Current Approval Date of Gazettal Previous Approval Media Release2
1. CHESS RTGS approval effective from date of gazettal
2. Media Releases relate to previous approvals.
RITS 19 February 1999 3 March 1999 29 October 1998 1998-15
Austraclear 19 February 1999 3 March 1999 29 October 1998 1998-15
CHESS RTGS1 5 March 2004 11 March 2004 24 November 2000 2000-19
Approvals under Section 12: Approved multilateral netting arrangements
System Current Approval Previous Approval Media Release
Austraclear (in Fallback mode) 16 November 1999 - 1999-13
APCS 18 August 2004 - 2004-07
BECS 18 August 2004 - 2004-07
CECS 18 August 2004 - 2004-07
HVCS (in Bypass mode) 18 August 2004 16 November 1999 2004-07
ASTC (Now known as ASX Settlement) 1 May 2007 - 2007-06