08 February 2016

Chaps celebrates 30th anniversary

05 February 2014  |  827 views  |  0 Source: Chaps Co

Key members of London's financial community came together in London yesterday (Tuesday 4 February) to mark the 30th anniversary of CHAPS (the UK's high-value same-day payments system) and to highlight its continued key role in the UK's economic infrastructure.

Speeches were given by the Deputy Governor of the Bank of England, Sir Jon Cunliffe; David Gauke MP, Exchequer Secretary to the Treasury; and by Dr Herta von Stiegel, Chairman of CHAPS. Guests were in attendance from across the banking industry, including participants in the service, financial trade bodies, board members and associates of the CHAPS Scheme.

Phil Kenworthy, Managing Director of CHAPS Clearing Company said the anniversary was a significant milestone that provided the opportunity to acknowledge how far CHAPS had come in the past thirty years.

"CHAPS has always performed a fundamental role within the UK economy having processed high-value payments safely and securely for the past three decades. This has underpinned both domestic and international trade. In this period, not only has the number of Direct Participants[1] using the service increased, but so has the volume and value of payments. We look forward to continually strengthening the service we provide for the next 30 years and beyond."

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