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RBA Glossary definition for settlement

settlement – The discharge of obligations arising from fund transfers between two or more parties.

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Australia's RTGS System

31 Dec 2012 RDP 2012-05
Ashwin Clarke and Jennifer Hancock
Balances below the sub-limit set by participants are reserved for settlement of ‘priority’ transactions. ... The remaining 10 per cent of interbank settlements in RITS are settled in deferred net batches.
https://www.rba.gov.au/publications/rdp/2012/2012-05/aus-system.html

References

31 Dec 2012 RDP 2012-05
Ashwin Clarke and Jennifer Hancock
CPSS (Committee on Payment and Settlement Systems) (2005),. New Developments in Large-Value Payment Systems. , ... 228. Gallagher P, J Gauntlett and D Sunner (2010), ‘Real-Time Gross Settlement in Australia’, RBA.
https://www.rba.gov.au/publications/rdp/2012/2012-05/references.html

Payment System Design and Participant Operational Disruptions

5 Sep 2012 RDP 2012-05
Ashwin Clarke and Jennifer Hancock
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/2012/2012-05.html

Methodology

31 Dec 2012 RDP 2012-05
Ashwin Clarke and Jennifer Hancock
Another measure of the systemic impact is the simulator's settlement delay indicator. ... Excluding the RBA, CLS Bank and the settlement accounts for the equity and futures markets.
https://www.rba.gov.au/publications/rdp/2012/2012-05/methodology.html

Payment System Design and Participant Operational Disruptions

31 Dec 2012 RDP 2012-05
Ashwin Clarke and Jennifer Hancock
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/2012/2012-05/

Appendix A: Simulator Algorithms

31 Dec 2012 RDP 2012-05
Ashwin Clarke and Jennifer Hancock
Time when submitted to the simulator. Deferred. Active. Active. Settlement time in RITS. ... Priority. Priority. Settlement time in RITS. Active. Active. Active. Submission time to RITS.
https://www.rba.gov.au/publications/rdp/2012/2012-05/appendix-a.html

Introduction

31 Dec 2012 RDP 2012-05
Ashwin Clarke and Jennifer Hancock
To mitigate the systemic impact of a participant's default, most high-value payment systems now settle on a real-time gross settlement (RTGS) basis (Bech, Preisig and Soramäki 2008). ... The design of RTGS systems varies significantly around the world.
https://www.rba.gov.au/publications/rdp/2012/2012-05/introduction.html

Literature Review

31 Dec 2012 RDP 2012-05
Ashwin Clarke and Jennifer Hancock
and Soramäki (2005) and Ercevik and Jackson (2009) use simulation analysis to quantify the impact of introducing hybrid features on liquidity demand and settlement delays; while Martin and McAndrews (2008) and ... Footnote. This is based on a study
https://www.rba.gov.au/publications/rdp/2012/2012-05/literature-review.html