madagascarnews

2009-10-16

CMA's RTGS has been set into live production at the Central Bank of Madagascar.

Stockholm, October 16th, 2009. Today CMA announced that it has successfully launched a complete RTGS solution (Real Time Gross Settlement system) at the Central Bank of Madagascar.

CMA's RTGS solution, called RTS/X, provides services for 8 commercial banks, the Central Bank and the Madagascar Postal Services. The RTGS system is fully integrated with the Central Bank's Information System and Bulk Clearing System, and allows processing of operations of direct and indirect participants and sub-participants (including the Treasury). The system currently provides such services as:

1. Real-Time Interbank transfers,

2. Intraday Liquidity Facility,

3. Cash Fonds Reservation and Withdrawal,

4. Interaction with in-house software for the settlement of securities transactions (BTA TCN) and Open market operations for means of STP (Straight Through Processing),

5. Settlement of bulk Clearing system's balances,

6. Communication with Participants through the SWIFT network.

The contract has been awarded to CMA as the result of the procurement procedure organized and sponsored by the Millennium Challenge Corporation of the United States. The system has been provided to the Central Bank of Madagascar by CMA team together with the team of a local partner: Ingenosya. The solution has been successfully implemented, tested and set into live operation within the set budget and agreed timeline.

CMA would like to thank the Governor of the Central Bank of Madagascar, The General Manager of the Bank, the project team (DSP, DOI), all BCM's services involved in the project, the Treasury, and all the banking community of Madagascar for their commitment throughout the project implementation and dedication to make this project a complete success.

Madagascar - Success Story