Swiss researchers sceptical about advanced settlement algorithms
A Swiss National Bank (SNB) working paper, published yesterday, warns central banks that the benefits of introducing advanced algorithms into their settlement systems may not stack up to the costs.
In Does SIC need a heart pacemaker? Robert Oleschak and Thomas Nellen argue that real-time gross settlement (RTGS) systems create a trade-off between liquidity needs and settlement delay.
Central banks have introduced a range of tools to ease this trade-off, including intraday liquidity facilities and
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