SIA provides Denmark with RTGS 18 September 2018Copenhagen Reporter: Jenna Lomax
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SIA has further strengthened its positioning in the Nordic countries, by providing Denmark’s Nationalbank with the new real-time gross settlement system, RTGS.
RTGS connects banks, mortgage banks and settlement systems, and has already been put into operation by the central banks of Norway and Sweden. It is due to go live in Iceland soon.
The technology infrastructure developed by SIA has replaced the previous in-house system that has been in use by the Central Bank of Denmark since 2001.
The new RTGS system, that secures safe and real-time transfer of Danish kroner, ensures efficiency, operational reliability, functional sophistication, and simpler maintenance of the system.
Later this year, Denmark will be the first non-euro country to participate in TARGET2-Securities (T2S), the centralised European platform for the settlement of domestic and cross-border securities transactions.
Nicola Cordone, deputy CEO of SIA, said: “This new significant project with the Central Bank of Denmark, after those developed for Norway, Sweden and Iceland, confirms our leadership in the Nordic region in providing state-of-the-art infrastructures for the payment systems.”
He added: “We are honoured to have been chosen by 15 central banks across Europe, Africa, the Middle East and Oceania that rely on SIA’s technologies to develop their financial infrastructures.”
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