Search: RTGS

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RBA Glossary definition for RTGS

RTGS – Real-time gross settlement. A payment system in which processing and settlement take place in real time (continuously).

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Australia's RTGS System

31 Dec 2012 RDP 2012-05
Ashwin Clarke and Jennifer Hancock
Download the Paper 578. KB. RITS has operated as an RTGS system since 1998. ... Footnotes. For more information on RTGS in Australia see Gallagher, Gauntlett and Sunner (2010).
https://www.rba.gov.au/publications/rdp/2012/2012-05/aus-system.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
Since hybrid features usually require a central queue, all system designs, other than the pure RTGS system, incorporate this feature. ... Consequently, RITS submission times are unlikely to be appropriate when simulating a pure RTGS system.
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/

Literature Review

31 Dec 2012 RDP 2012-05
Ashwin Clarke and Jennifer Hancock
A separate stream of the payments literature has focused on analysing operational risk in RTGS systems through simulation studies. ... and Lublóy and Tanai (2009) perform similar analyses on Austrian, Danish, Swiss and Hungarian RTGS systems,
https://www.rba.gov.au/publications/rdp/2012/2012-05/literature-review.html

Results

31 Dec 2012 RDP 2012-05
Ashwin Clarke and Jennifer Hancock
larger moving from the pure RTGS to the central-queue-only design – this is probably due to methodological issues. ... Thus is it not unexpected that there is very little difference between our results for the central queue and pure RTGS systems.
https://www.rba.gov.au/publications/rdp/2012/2012-05/results.html

Introduction

31 Dec 2012 RDP 2012-05
Ashwin Clarke and Jennifer Hancock
But while RTGS eliminates credit risk between participants, it requires more liquidity since payments are settled individually. ... The design of RTGS systems varies significantly around the world. Many RTGS systems incorporate elements of net settlement
https://www.rba.gov.au/publications/rdp/2012/2012-05/introduction.html

Conclusion

31 Dec 2012 RDP 2012-05
Ashwin Clarke and Jennifer Hancock
features in an RTGS system.
https://www.rba.gov.au/publications/rdp/2012/2012-05/conclusion.html

Appendix A: Simulator Algorithms

31 Dec 2012 RDP 2012-05
Ashwin Clarke and Jennifer Hancock
Priority. Priority. Submission time to RITS. Note: In the pure RTGS system, all payments are submitted to the simulator at the time they were settled in RITS and payment status is
https://www.rba.gov.au/publications/rdp/2012/2012-05/appendix-a.html