Hong Kong and Thailand link settlement systems
Payment-versus-payment link between RTGS systems goes live
A new link between Hong Kong and Thailand's real time gross settlement (RTGS) systems went live yesterday, and was heralded by one central banker for creating a "safer and more efficient arrangement for settling foreign exchange transactions".
The mechanism – known as a payment-versus-payment (PvP) link – ensures that a transfer of one currency only occurs if the transfer of the other currency takes place at the exact same time.
RTGS systems settle transfers on a rolling basis rather than at the
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