RTGS.global is close to launching our first closed loop pilot. This pilot will begin in mid 2020 followed by an open loop pilot in early 2021. This will lead to general availibility of the RTGS.global service.
We are currently completing and testing the initial build phase of the core RTGS network with our partners Microsoft. Significant performance has already been achieved on the core infrastructure. In addition to the technical work, extensive planning is taking place regarding regulatory oversight and construction of our operating regulations.
The first RTGS.global transactions will take place in a closed loop environment. This desktop experience replicates all the core RTGS.global functionality, enabling interactive testing within a real operational experience. During this pilot, feedback and interactions will be collated, and discussions and plans relating to technical integration and operational procedures will take place.
The Open-Loop pilot is due to start in early 2021. This Pilot will integrate into a global specific Nostro/Vostro account structure that are integrated and operated within our bank partners existing core banking platforms. This integration work will be supported by our network of technical partners and core banking systems vendors. Applications are already being accepted from commercial banks who wish to gain accelerated access and early rollout of the RTGS.global program in 2021.
During the final stages of the open-loop trial, Commercial Banks will invite their customers to test and experience the RTGS.global service on a progressive basis. This process will confirm the network service level agreements for all transactions, currently less than a second, and confirm the customer to customer service levels per currency channel. This process will continue and accelerate and lead to the full commercial availability of Phase One the RTGS.global network.