Bank of England, MAS and Bank of Thailand Publish Results of Project Meridian FX APAC Settlement Trial
The Bank of England, the Monetary Authority of Singapore, and the Bank of Thailand: Project Meridian FX APAC
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Bank of England, MAS and Bank of Thailand published the results of the Project Meridian FX APAC trial, which tested PvP foreign exchange settlement and multilateral netting across different technology systems. The trial covered RTGS and distributed ledger technology-based settlement systems. Partior developed, integrated and tested a Synchronisation Operator prototype; the results showed that synchronised settlement can be implemented across different central bank systems and outlined the related requirements and trade-offs.
The project tested synchronised foreign exchange settlement across wholesale settlement systems with different technologies and operating models, highlighting the technical trade-offs and policy considerations involved in PvP and multilateral netting.
Source:Bank of England · bankofengland.co.uk