Archive

CMA's solution for ELECTRONIC CHECK CLEARING HOUSE SYSTEM has been set into live operations at the Central Bank of Dominican Republic

Stockholm, April 10th, 2012. Central Bank of Dominican Republic goes live with CMA's BCS/X solution as Electronic Check Clearing House system.

CMA's system has been procured by the Central Bank of Dominican Republic for supply and installation of Electronic Check Clearing House system as a part of the payment system modernization project sponsored by the World Bank. During implementation CMA BCS/X system is configured to comply with legal rules and practices applied in Dominican Republic. The system supports online integration with other Clearing systems and RTGS system. System is compliant with X9 international standards in check processing and imaging.
Currently, 53 participant banks in the country are connected and configured to use the system. The solution is operational in 24h-mode with one hour break from 9am to 10am.

CMA to participate in SWIFT SIBOS 2012 Conference and Exhibition in Osaka, Japan from 29th of October to 1st of November

Stockholm, April 5, 2012. CMA of Sweden has announced today that it will be represented for the 12th consecutive year at the SWIFT SIBOS event, which is to take place in the INTEX center in Osaka, Japan.

“Every year Sibos brings together influential leaders from financial institutions, market infrastructures, multinational corporations and technology partners to do business and shape the future of the financial industry. Facilitated and organised by SWIFT for the SWIFT community, Sibos is much more than a conference and exhibition. It is a unique forum to collaborate and take collective action in payments, securities, cash management and trade. With the power to draw some 7,000 participants from across the globe, Sibos is unparalleled in its reputation to reach the entire financial services industry.” – as per www.sibos.com.
CMA’s stand in the INTEX center, will be located in Hall 1, stand number: 1B15. Our stand representatives will be happy to meet our existing and new clients and tell them about our ever-growing solution portfolio.
 

CMA to provide its RTGS and CSD solutions to the Central Bank of Liberia within the scope of its West African Monetary Zone payment system modernization project.

Stockholm, March 20th, 2012. CMA announced today that Liberia will be the fourth country provided with CMA’s Real Time Gross Settlement (RTGS) and Scriptless Security Settlement (SSS) systems in the West African Monetary Zone (WAMZ).

After the Central Bank of Liberia has joined the WAMZ, it became part of the project, which is being a part of the initiative of the Payment System Development program in the West African Monetary Institute (WAMI). Sponsored by the African Development Fund, it is part of WAMZ Developmental programme, which requires a robust payment and settlement systems to ensure the deepening of the region’s financial system.
Out of the 4 WAMZ members (those are now: Gambia, Sierra Leone, Guinea and Liberia) CMA’s  solutions in Gambia are already in live mode. For the entire community, the new systems will allow to fulfill their regional and national objectives including: improvement of the financial intermediation efficiency, a better systemic risks management in the financial sector and an easier liquidity management which will ease monetary policy implementation.
 

CMA’s Cheque Truncation System is used by the Central Bank of Mauritius.

Stockholm, March 19th, 2012. CMA of Sweden has announced today that its solution for Cheque Truncation (CHE/X) has been successfully operated by the Central Bank of Mauritius for the first six month.

As per official communiqué from the Bank of Mauritius:
“The Cheque Truncation System (CTS) – the process by which physical cheques presented for payment are converted to electronic form and the image transmitted electronically to the clearing house for processing and eventual payment – is a joint initiative of the Bank of Mauritius and the Mauritius Bankers Association (MBA) and is part of the strategic vision of modernising the national payment system whilst meeting fundamental objectives of safety, efficiency and effectiveness. The new system replaces the cumbersome process of physically transferring cheques from banks nationwide to the Port Louis Automated Clearing House. It enables the significant reduction in the float time and makes funds available faster.”
The implemented solution – CHE/X, is based on CMA’s solution for Automated Clearing House, which has been one of CMA’s flagship products for over a decade and used by a large number of clients.
From the official joint communiqué from the Bank of Mauritius and the Mauritius Bankers Association Limited:
“Cheques are, currently, the most visible and significant mode of payment in Mauritius, with an average of 21,000 cheques being cleared daily for an amount almost of a billion rupees (33MUSD). Customers will invariably gain with the implementation of the CTS as the float time for cheque clearance, which presently ranges between two to five working days, will be significantly reduced to one to two working days. The other expected benefits are, inter alia, (i) faster clearance times between branches of different banks; (ii) greater efficiency in the banking sector leading to improved customer service; (iii) improved efficiency in the processing of cheques and funds transmission; and (iv) enhanced security and finality on the transfer of value through payment systems.”

2012-02-17

Stockholm, February 10th, 2012 CMA and SINAM sign a contract to enhance the utility payment system at the National Bank of Azerbaijan.

CMA announced today that in collaboration with its partner SINAM, it entered into contractual agreement with the National Bank of Azerbaijan for the provision of the extension to the utility payments system

APUS - the utility payment system at the National Bank of Azerbaijan, has been set into live operations by the same CMA and SINAM  consortium in July 2008.

The new contract with the National Bank covers implementation of the additional functionality for the extension of the current payment service offering to juridical and natural persons via electronic means of communication.

In order to facilitate processing of electronic documents in real time mode, the current contract commitment covers considerable increase in system performance and migration onto modern and sophisticated technological platform from Oracle Exadata.

2011-08-20

CMA’s solution for the Central Securities Depository (DEPO/X) goes live at the Central Bank of Oman (CBO)

Stockholm, August 20th, 2011 CMA of Sweden, the world leading provider of payment systems solutions to the central financial institutions, has announced today that its central securities depository, online auctioning and securities settlement system called DEPO/X, has successfully gone into live operations at the Central Bank of the Sultanate of Oman.

CMA’s DEPO/X offers full automation of depository operations for state and corporate securities covering all the steps constituting the full process of an auction such as registering, bidding and settlement. Due to its online integration with the Real-Time Gross Settlement system (RTS/X, previously installed in CBO by CMA in 2005) DEPO/X can provide a true Delivery versus Payment (DvP) model.

Thanks to DEPO/X system Central Bank of Oman in sync with the other 19 primary dealers, Ministry of Finance, Muscat Clearing and Depository Company, numerous direct and indirect investors instantly recieved the following benefits:

• Automation of various operations with securities;
• Online auctioning;
• Online real-time settlement of DvP related cash legs;
• Securities secondary market operations:
  • Outright DvP/DvF;
  • ILF/Overnight/REPO/Buyback;
  • Conversion/Extension;
  • Discounting/Rediscounting;
  • Money market operations;
• Online portfolio management:
  • Balances reports at any point of time;
  • Possibility to management different sections of own portfolio;
• Online reporting facilities:
  • Reports upon request;
  • Reports published by system operator.

CMAs’ DEPO/X is compliant with World Bank and BIS principles and recommendations regarding securities settlement and payment systems thus allowing the mitigation of all types of related risks. DEPO/X significantly reduces or even totally avoids all types of risks related to payment systems (legal, operational, financial, security and systemic).

“In the course of the last 7 years, CMA has successfully provided 3 of its flagship products to the Central Bank of the Sultanate of Oman, we appreciate CBO’s trust in our company and solutions and we are looking forward to more projects in Oman in the future” – as per Mr. Alexey Nazarov, Managing Director, CMA .”

2012-01-17

CMA has successfully conducted performance tests o CMA's Real Time Gross Settlement system (RTS/X) at IBM Systems Solutions Center.

Stockholm, January 17th, 2012. CMA has announced today that it has successfully carried out performance tests of its Real Time Gross Settlement system (RTS/X) in a join effort of CMA team and IBM specialists in IBM Systems Solutions Center, Bangalore, India.

Test scenarios included different types of payment messages, and allowed simulation of workload close to real workload in the existing RTS/X production installations.

CMA’s RTS/X system was configured in a way that the access servers were running integration bus software that made RTS/X service accessible to external parties (such as banking institutions), load generators and clients (XAdapter’s). All of the access servers were active and client connections were distributed between them. Database and Core server was running RTS/X core application that provided RTGS settlement service and other services to its clients through the gateway servers. This server was connected to the external storage, used to store all of the data files of Oracle database.

On the basis of testing results, it could be concluded that throughput does not diminish with an increase in a number of messages. In the end, 1 million of payment transactions had been processed in less than 3.5 hours.

The tests have demonstrated high performance of RTS/X solution installed on IBM zLinux on System z9 / Red Hat Enterprise Linux Server release 6.1 (Santiago), RDBMS Oracle 11gR2, with an ability to process 321 200 payments per hour.

There is room to significantly increase achieved results by improving disk subsystem and connecting more clients to the system.

CMA would like to thank IBM System Solution Center team in Bangalore for assistance in those tests.

2011-12-16

CMA’s Real Time Gross Settlement system went live at the Central Bank of Gambia.

Stockholm, 16th of December, 2011. Today CMA announced that its Real Time Gross Settlement System (RTGS) has been successfully launched into live operations at the Central Bank of Gambia.

CMA’s project implementation of its Real Time Gross Settlements system and Central Securities Depository in West African Monetary Zone, has produced its first result, namely the launch of the Real Time Gross Settlement system at the Central Bank of Gambia. Currently, 13 commercial banks are connected to the system. The RTGS system is fully integrated with the Central Bank’s Core Banking and Bulk Clearing Settlement systems.

Central Bank of Gambia is part of the West African Monetary Zone, which consists of:

• Bank of Ghana
• Central Bank of Nigeria
• Bank of Sierra Leone
• Central Bank of Guinea
• Central Bank of The Gambia
• Central Bank of Liberia

According with the project schedule, CMA intends to launch its systems at the Central Bank of Guinea, Sierra Leone and Liberia in 2012.

Mr. Fatou Touray Balajo (RTGS Project Manager at the Central Bank of Gambia), commented: "This is another step forward towards the implementation of The Gambia's ambitious National Payment System project. The launching of the RTGS system will bring great benefits to Gambia's Payment System and economy as problems of bounce cheques and delays in receipt of payments are prevented, since settlement is on real time basis".

2011-10-25

CMA will provide its Real Time Gross Settlement (RTGS) and Central Securities Depository (CSD) solutions to the Central Bank of Nigeria

Stockholm, October 25th, 2011. CMA has announced today that it has been awarded a contract for the provision of the RTGS and CSD solutions to the Central Bank of Nigeria.

Central Bank of Nigeria (CBN) Payments System Vision 2020 includes implementation of an RTGS system, which is intended for large-value and time critical payments, for the inter-bank and customers’ transactions as well as meeting the needs of a modern payments system, together with an implementation of a Central Securities Depository (CSD), which is one of the pillars of global financial infrastructure. CSD is a system that holds securities accounts and enables securities to be transferred and settled by book entry according to a set of predetermined multilateral rules.

Implementing a world-class payment system infrastructure will be critical for Nigeria as it seeks to increase its influence on financial markets within West African Monetary Zone and beyond, since a modern payment system is the mechanism for settlement of all other payments, foreign exchange and securities settlement systems.

CMA of Sweden has been selected by the CBN in the result of a competitive bidding process. In addition to various requirements of the CBN, CMA’s RTS/X solution for RTGS will satisfy the Bank of International Settlement’s (BIS), Committee of Payments and Settlement System’s (CPSS) Core Principles for Systemically Important Payment Systems standards. At the same time, the scope of CMA’s DEPO/X solution for the CSD will seek to accommodate all financial instruments as may be authorized by the CBN. The financial instruments shall include but not limited to: Federal Government Bonds, Nigerian Treasury Bills, CBN bills and other financial instruments.

2011-10-10

CMA has singed a contract for the provision of the Government Securities and Forex Trading, Depository and Money Market Systems to the National Bank of Kyrgyz Republic.

Stockholm, October 10th, 2011. CMA has announced today that it has successfully negotiated a contract with the National Bank of Kyrgyz Republic (NBKR) for the provision of the Government Securities and Forex Trading, Depository and Money Market Systems.

The main objective of the NBKR is to support its national currency and provide stability and security to the banking and payment systems of the republic. One of the underlying principles for the stable operations of a National Bank is an information system, which would provide reliable, complex yet standardized information that covers a spectrum of financial activities. At the same time, due to its significant flexibility, this system should not hinder the functioning and improvement of the existing business processes.

Therefore, NBKR, had set an objective to implement a new system for the Government Securities and Forex Trading, Depository and Money Market. This project includes procurement of the trading platforms and a depository system together with its integration with the payment infrastructure that as a result, will facilitate introduction of the DvP (Delivery-versus-Payment) principles in order to reduce settlement risks.

This modernization of the payment system infrastructure plays a vital role in improving the credentials and trust of the internal infrastructure, together with the motivation of participant banks and gives a boost for the expansion of its operations in the future.

In order to meet the aforementioned objectives, CMA has proposed its DEPO/X solution for Central Securities Depository with various plug-in modules that cover Forex Trading, Money Market etc.