Enhanced Batch Processing in RITS – January 2020 1. Introduction

1.1. Document purpose

This document explains the framework for batch processing in RITS. It outlines the two models for batch settlement that are available and sets out their key principles and concepts.

1.2. Document audience

This document is intended for business and technical management and staff in organisations interested in using the batch settlement facility in RITS.

1.3. Document scope

This document provides:

  • a description of the batch functionality and how it applies to the two models for batch settlement available in RITS;
  • a general outline of the responsibilities of a Batch Administrator and the requirements of the Reserve Bank of Australia (RBA) in respect of Batch Administrators;
  • a summary of the message flows associated with each batch settlement model;
  • an outline of the message content of messages exchanged between RITS and Batch Administrators for each batch settlement model; and
  • high-level details of the functionality available in RITS for participant Members to manage transactions in respect of the batch processing in RITS.

The details of messages exchanged between Batch Administrator, participant Members, and any operator of an Upstream Business are outside the scope of this document.

See the glossary at the end of this document for key terms.