RTGS system (real-time gross settlement system)

Payment system in real time, meaning that each transaction is continuously processed and settled in real time (settlement system in which processing and settlement take place on a transaction-by-transaction basis in real time). – See gross settlement system, clearing house, automatic, capital transfer system, electronic, retail payment system, electronic, TARGET system. – Cf. Deutsche Bundesbank Monthly Report of September 2005, pp. 45 ff. (detailed presentation of payment systems; p. 50: important comparison of systems with their advantages and disadvantages).

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