New technology platform for RIX, the Riksbank’s funds transfer system

Date 04/02/2009

The Riksbank, in co-operation with RIX participants—banks, clearing organisations and the Swedish National Debt Office—is switching to a new technology system and a new platform for RIX, the Riksbank’s funds transfer system. Extensive testing has been carried out in co-operation with banks and other RIX participants in preparation for the launch of the new system. All participants are well-prepared for migration to the new system, which is taking place now in February.
 
RIX is the hub of the Swedish payment system in that all payments and transfers between banks and other agents eventually pass through RIX. The Riksbank thus functions as the banks’ bank. However, the current technology system is outdated. The new technology platform provides a more modern environment and a system with more modern services, such as more efficient liquidity management in that less liquidity needs to be set aside in the system in order to carry out transactions.