Clearing vs Settlement: What Happens Between Payment Initiation and Final Funds Transfer

When a business sends a cross-border payment, two processes determine whether funds arrive: clearing and settlement. The ...
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Bank of England and Accenture Announce Renewal of Real-Time Gross Settlement Service

The Bank of England and Accenture (NYSE: ACN) have completed the transformation of the Real-Time Gross Settlement (RTGS) service, a significant component of the UK’s financial infrastructure, ...
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Central banks trial real-time cross-border FX settlement system

A key focus is enabling atomic settlement for Payment versus Payment (PvP) FX trades. The Bank of England, Monetary Authority of Singapore, and Bank of Thailand announced a collaboration to test ...