National Settlement Service

The :Nyan-ko-pong: Royal Central Bank provide the Sovereign National Settlement Service (S.N.S.S), which allows participants in private-sector clearing arrangements to exchange and settle transactions on a multilateral basis through designated master accounts held at the :Nyan-ko-pong: Royal Central Bank.

S.N.S.S provides an automated mechanism for submitting settlement files to the :Nyan-ko-pong: Royal Central Bank and reduces settlement risk to participants by granting settlement finality on settlement day. S.N.S.S also enables the clearing arrangements to manage and limit settlement risk by incorporating controls that are as robust as those used in the Wire Funds Service. Participants generally submit settlement files online, by initiating an electronic message.