Electronic Cash Transfers

The ASX Austraclear Electronic Trade Settlement service for the transfer of cash provides the capability to settle cash transfers via the RBA Real Time Gross Settlement (RTGS) system.

Competitively priced, this solution offers a reliable, secure, and independent service to transfer funds on a RTGS basis and provides significant Straight Through Processing (STP) opportunities.

Functionality overview

Electronic Cash Transfers (ECTs) are two-sided and can be Bank-to-Corporate (B2C), Corporate-to-Corporate (C2C), and Bank-to-Bank (B2B)

Diagram illustrating functionality overview of ECTs

How can I use the ECT Service?

Adaptable to a variety of business needs, in its most simple application, it is a means for Party A to pay Party B money, real time, in a reliable, secure and inexpensive manner. Typical transactions include Money Market, FX trades and the full range of OTC derivative transactions.
ECT can also be used by a specific industry group as a common, cost-effective means to transfer funds between participants. For example, the Australian energy market participants settle the cash component of energy contracts solely within the Austraclear System.

Benefits

  • Secure
  • Payment timing
  • Real time
  • Full reporting
  • Broad participation
  • Irrevocable transfer of cash
  • Reliable
  • STP opportunities