Importance

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Abstract

A method of providing batch payment clearing is described, as is a clearing system implemented by a suitably programmed computer system or network to implement it. A plurality of payments are received for clearing and settlement between account holders of participating financial institutions for clearing and settlement, wherein the plurality of payments are received during a settlement cycle. At the end of the settlement cycle, a net change in position is calculated for each participating financial institution. A pseudo settlement agent associated with a real time payment clearing service is then used to determine whether the net changes in position for each participating financial institution meet the rules of the real-time payment clearing service. If the net changes in position for each participating financial institution meet the rules of the real-time payment clearing service, the plurality of payments are forwarded to participating financial institutions as cleared and the net fund movements are forwarded for adjusting liquidity positions of the participating financial institutions held within the pseudo settlement agent or associated real-time payment clearing service to reflect the net funds movements.

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First Claim