LogicaCMG Selected to Build National Payments System for Trinidad and Tobago

Monday 15 December 2003 08:20 CET | News

LogicaCMG has won a contract from the Central Bank of Trinidad and Tobago to implement a Real Time Gross Settlement (RTGS) system and Government Securities Settlement system.

The Republic of Trinidad and Tobago is a developing market with significant potential for economic growth. The Governments recently- announced Vision 2020 project is aimed at achieving fully developed country status by 2020. One essential element in achieving this objective will be the existence of a modern, reliable and efficient financial infrastructure. An integral part of this process involves improving the efficiency of the national payments and securities clearance and settlement systems, in line with the best international standards. The Bank will use LogicaCMGs RTGS solution to implement its interbank settlement of high value payments. LogicaCMGs Central Securities System will enable the auction, trading and settlement of Government Securities. The two systems will be connected using Model 1 Delivery Versus Payment (DVP).

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce