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Payments General

SIA provides real-time gross settlement system in Denmark

Tuesday 18 September 2018 | 02:26 PM CET

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 real-time transfer of Danish kroner, ensures operational reliability and simpler maintenance of the system.

Towards the end of 2018, 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.

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