Riksbank launches 24/7 instant settlement system
Rix-Inst operates on same technology as ECB’s Tips system
Sveriges Riksbank has launched a new instant payment settlement system that operates round the clock, every day of the year.
Rix-Inst went live today (May 23), allowing participant firms to settle smaller payments instantly at any time of the day. Previously, settlement was only possible through Rix-RTGS, the Riksbank’s real-time gross settlement system, which operates between the hours of 0700 and 1800 each day.
Now, both systems will operate in parallel. Firms can choose to sign up for Rix
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