السجلات الموزعة في أسواق رأس المال

العملية

Distributed ledgers in capital markets: Payment from instruction to finality

An RTGS system checks a payment, queues it if funds are short, settles it gross in real time and gives final settlement.

1. 01 الاستقبال

   1. 01Payment instructionSource · ParticipantThe system should use, or at least accommodate, relevant internationally accepted communication procedures and standards.
   2. 04Validity and conditionality checksStep · System operatorA payment is accepted once it passes validity and conditionality checks, such as funds or credit. An invalid payment is generally rejected.

2. 02 Settlement

   1. 02السيولةDataset · ParticipantParticipants need liquidity for outgoing payments: central or commercial bank balances, incoming payments and intraday credit.
   2. 05QueueModel · System operatorA valid payment that fails conditionality checks is queued or rejected. Queuing and other liquidity-saving tools can cut liquidity needs.
   3. 06Settle in real time, grossStep · System operatorRTGS settles payments continuously, without deferral, usually one by one. Money settlements should use central bank money where practical.

3. 03 Finality

   1. 07Final settlementRecord · System operatorThe system gives clear, certain final settlement by the end of the value date at least, intraday or real time where needed.
   2. 08ReconciliationStep · System operatorReconciliation checks that records issued by two different entities match. The pages read state no timing for payment نظم.

4. 04 Resilience

   1. 03Business continuity and secondary siteExercise · System operatorThe plan uses a secondary site and aims to resume critical IT within two hours and settle by end of day. Arrangements are regularly tested.

Outline of an external standard or method, from its public sources. It describes what the framework says, not a record of any run. It does not show that Nexus or any partner performs, certifies or approves a step. A gate is a step of the method, never a Nexus approval. The source is the CPMI-IOSCO Principles for financial market infrastructures. A business continuity plan covers disruption.