Central Bank of Tunisia launches a new version of the RTGS system with ISO20022 support

January 28, 2022
Tunis, Tunisia

Interbank settlement system SGMT2 (Système de Virements de Gros Montant Tunisien), which performs the functions of RTGS in the Central Bank of Tunisia, was launched into production.

SGMT2 was developed by CMA and based on the RTS/X solution. It replaces the old system version that the Central Bank of Tunisia implemented in 2006.

SGMT2 fully covers the functionality of the old SGMT, and also includes new features:

- ISO20022 support, including embedded converting service of the old SWIFT MT formats, which allowed the system to be launched without changes from the participating banks;

- New mechanisms for managing liquidity sources and payment queues to reduce the liquidity requirements of participating banks;

- The module for managing the withdrawal and deposit of cash in local and foreign currencies;

- Direct integration with the Tunisie clearing trading and depository system for online settlement of trading results in the "delivery versus payment" (DvP3) mode, settlements on over-the-counter transactions and operations of the monetary policy of the Central Bank (DvP1);

- API for secure connection of participants via the local interbank network.

Integration with the regional payment systems is planned for the near future.

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