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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 ...
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 .
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.
SIX Group#SIX Interbank Clearing; This page is a redirect. The following categories are used to track and monitor this redirect: From a subtopic: ...
A bank clearing number or BC number is a number used for the identification of financial institutions in Switzerland and Liechtenstein. Bank clearing numbers are connected to the Swiss Interbank Clearing and the euroSIC system. Bank clearing numbers consists of 3 to 5 digits.
The Clearing House Payments Company (also known as PayCo), which operates the Clearing House Interbank Payments System (CHIPS) in the U.S. CME Clearing, ICE Clear Credit, and the Options Clearing Corporation, involved in derivatives clearing in the U.S. Eurex Clearing in Germany, SIX SIS in Switzerland, London Clearing House in the euro area ...
The first payment method that required clearing was cheques, as cheques would have to be returned to the issuing bank for payment. Though many debit cards are drawn against chequing accounts, direct deposit and point-of-purchase electronic payments are cleared through networks separate from the cheque clearing system (in the United States, the Federal Reserve's Automated Clearing House and the ...