Effective July 1, 2010 RTS Settlement Chamber will be connected to the system of bank electronic urgent payments (BEUP).
Clients of the RTS Settlement Chamber will benefit from the implementation of this payment system thanks to the following:
- Increased speed of settlements with counterparties which is especially important when moving cash between trading platforms;
- Payment status and timescale choice:
- Urgent payment (via the BEUP system) – documents are processed in the RTS Settlement Chamber within 30 minutes upon the receipt of the payment order from the client.
- Electronic payment (on standard terms) – documents received from the client are processed within one operational day.
By flagging a payment as urgent the clients of RTS Settlement Chamber get the opportunity to credit cash to the beneficiary’s account within minutes regardless of the location of the beneficiary’s bank. For the payment to be processed as urgent, the beneficiary needs to be serviced by a bank connected to the BEUP system.
The fee charged per an urgent payment via the BUEP system is made up from the standard electronic payment fee plus RUB50. The new fee becomes effective on July 1, 2010.
