The Reserve Bank of New Zealand (RBNZ), New Zealand's central bank, and SIA – European hi-tech company in the fields of payment services and infrastructures – have launched the new real-time financial market infrastructures, replacing the two separate platforms Exchange Settlement Account System (ESAS) and Central Securities Depository system (NZClear).
The RBNZ market infrastructures are used by 57 member organisations including banks, custodians, registries and brokers that total around 600 users from New Zealand, Australia and Asia.
Those financial institutions are now connected to a new system to manage their day-to-day interactions with the Reserve Bank of New Zealand.
The new market infrastructures are based on the Real-Time Gross Settlement (RTGS) and Central Securities Depository (CSD) applications provided by SIA and already used by also several other central institutions across Europe, Africa, Middle East and North America.
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