Central Banking

Sweden's central bank signs for RTGS system

Sweden's central bank Sveriges Riksbank has contracted with Italian IT provider Societa Interbancaria per l'Automazione (SIA) for the delivery and implementation of a real time gross settlement (RTGS) system.

The system will be supplied by South African-based Perago Financial System Enablers.

Under the deal, the bank's proprietary RIX application, which currently processes a daily turnover equal to around 1/6 of the Swedish GDP, will be replaced with the Perago:rtgs network.

Roll out of the new

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