RTGS and CSD solutions for the Central Bank of Uruguay

08-02-2010

Central Bank of Uruguay contracts CMA for the provision of RTGS and CSD solutions.

As a result of an open public procurement procedure, BCU has selected CMA of Sweden for the design, supply, installation and initial configuration, implementation, training, guarantee, support and maintenance of a Real Time Gross Settlement (RTGS), a Central Securities Depository System (CSD) and related applications.

As its main objectives, those solutions will have to:

• Guarantee the strength and irrevocability of payments and settlement of securities in the current accounts of players in the BCU and in the CSD securities position records.
• Implement the risk control associated with the settlement of funds in the RTGS and the CSD securities positions.
• Guarantee that the processed operations fully comply with the basic CPSS principles for the Payment Systems of Systemic Importance and the CPSS-IOSCO Recommendations for the Securities Clearing and Settlement Systems.

For this project CMA is partnering with Softron of Uruguay. “Founded 30 years ago, Softron has a thorough understanding of the regional technology market, where it operates directly with offices in Uruguay, Argentina & Chile. Softron has consolidated business relationships with 90% of the largest 100 organizations of the region, with numerous success stories. More info can be found at www.softron.biz ".

CMA intends to use Softron resources throughout the project implementation and for the provision of the first line of support after the systems will go into live production.