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Since 1987, the SIC system has been operated by SIX Interbank Clearing (100% owned by the SIX Group) on behalf of the Swiss National Bank (SNB). [1] [3] 12 Swiss banks participated in the launch. The SIC was one of the first real-time gross settlement system operating worldwide, following Cedel launched in 1970. [2]
SIX Interbank Clearing AG (before November 2008: Swiss Interbank Clearing AG), based in Zürich, Switzerland, is a subsidiary of SIX Group. Since 1987 SIX Interbank Clearing has operated on behalf of the Swiss National Bank a payment platform for the processing of domestic and international payments ( clearing ) in Swiss francs and, since the ...
SIX Swiss Exchange also trades other securities such as Swiss government bonds and derivatives such as stock options. SIX Swiss Exchange is completely owned by SIX Group, an unlisted public limited company itself owned by around 120 national and foreign financial institutions. [2] [non-primary source needed]
SIX Group#SIX Interbank Clearing; This page is a redirect. The following categories are used to track and monitor this redirect: From a subtopic: ...
RTGS systems are usually operated by a country's central bank as it is seen as critical infrastructure for a country's economy. Economists believe that an efficient national payment system reduces the cost of exchanging goods and services, and is indispensable to the functioning of the interbank, money, and capital markets.
An automated clearing house (ACH) is a computer-based electronic network for processing transactions, [1] usually domestic low value payments, between participating financial institutions. It may support both credit transfers and direct debits .
The Swiss National Bank (SNB; German: Schweizerische Nationalbank; French: Banque nationale suisse; Italian: Banca nazionale svizzera; Romansh: Banca naziunala svizra) is the central bank of Switzerland, responsible for the nation's monetary policy and the sole issuer of Swiss franc banknotes. The primary goal of its mandate is to ensure price ...
When PTT was dissolved at the end of 1997 as part of a postal reform, the former payment transactions department became the Swiss Post subsidiary Postfinance. In the years that followed, Postfinance experienced strong growth. [7] In 2001, Postfinance was connected to the domestic payment system Swiss Interbank Clearing (SIC) of the banks. [8]