11-08-2010-news

2010-08-11

CMA signs a contract for the provision of its RTGS, ACH and CSD solutions to the Central Bank of Paraguay.

Stockholm, August 10th, 2010. CMA announced today that it has successfully finalized contract negotiations with the Central Bank of Paraguay for provision of 3 of its payment system solutions.

Modernization of the payment system infrastructure has been Central Bank's of Paraguay priority in the last year. Therefore, the Central Bank has initiated an international procurement process, which resulted in the selection of the CMA of Sweden as a provider of the high-value Real Time Gross Settlement System (RTGS), low-value Automated Clearing House (ACH) and Central Securities Depository. In CMA product portfolio, those solutions are called RTS/X, BCS/X and DEPO/X respectively. CMA will provide those solutions in a hybrid form to the Central Bank of Paraguay.

An objective of introducing a new payment system in the country, is first and foremost promotion and maintenance of a sound and efficient financial system. This includes minimizing legal, operational, settlement and systemic risks, providing various liquidity management and oversight mechanisms etc. Those measures are defined in the BIS supported Core Principles for Systematically Important Payment Systems and CMA's solutions conform to those principles.

In this project CMA is very pleased to work together with Parasoft of Paraguay (http://www.parasoft.com.py), a company, which will be in charge of provision of local resources for project implementation, customization and after live-cut-over first line of support for the solutions.