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.
The first RTGS.global transactions are taking place now in a closed loop environment. Our desktop experience replicates all the core RTGS.global functionality, enabling interactive testing delivering a true operational experience. During Stage 1 all feedback and interactions will be collated, as we fine tune the platform and operating regulations. Multi Territorial Banks are able to test their own intergroup liquidity visibility and see improvements across their existing correspondent network in real-time. 44,000+ Banks around the world already have RTGS.global identifiers enabled.
Discussions and plans relating to technical integration and operational procedures will take place.
Stage 3 will commence in late 2020. Phase 3 involves creating the real-time global settlement accounts that are integrated and operated by you within your bank existing core infrastructure. This integration work can be supported by our global network of technical partners and core banking systems vendors.
During the final stages of Stage 3, Banks will invite their customers to test and experience the RTGS.global service on a progressive basis. This process will confirm their own network service level agreements for their transactions. The RTGS core operates at circa 300 milliseconds per transaction. Once final testing is completed and certified network compliant, full availability of the RTGS.global network is enabled.