Denmark completes RTGS renewal
New functionality will allow Danish banks access to Europe’s Target2-Securities in late 2018
The National Bank of Denmark has completed the renewal of its real-time gross settlement system (RTGS), which operated for the first time on August 20.
The new system, Kronos2, has been developed by Perago, a software company created at the South African Reserve Bank that was acquired by Italy’s Società Interbancaria per l’Automazione (SIA) in 2005. The new system “secures safe and real-time transfer of Danish kroner”, says the central bank.
Kronos2 will allow Denmark to become the first non
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