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Real Time Gross Settlement system

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Definition Edit

The Real Time Gross Settlement (RTGS) system is

[a] type of payments system operating in real time rather than batch processing mode. It provides immediate finality of transactions. Gross settlement refers to the settlement of each transfer individually rather than netting. Fedwire is an example of a real time gross settlement system.[1]

References Edit

  1. Information Society IT Examination Handbook, Retail Payment Systems, App. B, Glossary.

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