Payment versus. Payment

Service Overview

A mechanism in a foreign exchange settlement system to ensure that a transfer of one currency occurs only if a transfer of the other currency or currencies also takes place, which will be final and irrevocable.

The Cross Currency Payment Matching Processor is a core component linked with Real Time Gross Settlement (“RTGS”) systems of various clearing currencies to ensure that both legs of a foreign exchange transaction are settled simultaneously to eliminate Herstatt risk.


Currently, PvP settlement of US dollar/Hong Kong dollar, US dollar/renminbi, euro/US dollar, euro/Hong Kong dollar, euro/renminbi, renminbi/Hong Kong dollar, US dollar/Malaysian Ringgit, US dollar/Indonesian Rupiah and US dollar/Thai Baht foreign exchange transactions is supported.