imported>John Grout |
imported>Doug Williamson |
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| ''Funds transfer''
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| Market Infrastructure Resiliency Service. | | Market Infrastructure Resiliency Service. |
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| This service is designed to be a standby system able to take over the principal functions of a (national) real time gross settlement system ([[RTGS]]) at very short notice, probably intra-day, in case of failure of a system or its primary back-up.
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| The Bank of England, for its [[CHAPS]] sterling RTGS service was the first subscriber to MIRS and how it uses it is discussed [http://http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q305.pdf here]. Not only is it a system dependent on totally different software, it uses hardware in multiple centres outside the jurisdiction of the RTGS system it is backing up.
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| SWIFT describe the service they provide [http://www.swift.com/assets/swift_com/documents/products_services/SWIFT_MIRS_factsheet.pdf here].
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| For treasurers, the main thing to note is that for payment systems using MIRS, the service is likely to be more resilient against failure.
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| ==See also== | | ==See also== |
| * [[SWIFT]] | | * [[SWIFT]] |
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| [[Category:Technical_skills]]
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| [[Category:Treasury_operations]]
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| [[Category:Cash_management]]
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| [[Category:Technology]]
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Revision as of 20:32, 25 March 2015
Market Infrastructure Resiliency Service.
See also
