Central Bank of Morocco, RTGS System (RTS/X)

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Central Bank of Morocco, RTGS System (RTS/X)

 

Central Bank of Morocco, RTGS System (RTS/X)

Bank Al-Maghrib (BM) put into operation the Real Time Gross Settlement System, SRBM (Système des Règlements Bruts du Maroc) in 2006 within the framework of the country’s financial infrastructure modernization project. The CMA company designed the systems, adjusted it according to the national regulating authorities and legislation requirements, delivered, installed and setup the software/hardware interface system in 7 months. The system was launched into live operations on September 7, 2006.
The task of the project was to develop and implement an automated system of online collection and processing of big payments. Access to the system is executed via the dedicated network providing high speed secure information exchange between the system participants and BM. SRBM also supports the opportunity of "shared access areas" usage in case of unforeseen connection breaks with one or several participants.

The system became an important part of Moroccan payments infrastructure during its live operation. New features are being implemented according to the market needs. In 2011 the system was interfaced with Moroccan securities depository (MAROCLEAR) for clearing and settlement of cash legs according to Delivery versus Payment principle. New settlement protection mechanisms for external clearing results settlement (including joint interbank guarantee fund and individual guarantee reserves) was introduced one year later.

 

Status: The system went into live operation in September 2006 according to the project schedule

 

  Case study (670 kb) PDFRTS/XPIE  

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