Reserve Bank of New Zealand goes to tender for new payments and settlement systems

Reserve Bank of New Zealand goes to tender for new payments and settlement systems

The Reserve Bank of New Zealand is seeking Registrations of Interest (ROI) from potential vendors for the procurement of a real-time gross settlement system and a security settlement system with a depository.

On 28 November 2013, the central bank contracted with Ernst & Young to undertake a strategic review of the current Exchange Settlement Account System (ESAS) and NZClear Securities Settlement System (NZClear) in anticipation of substantial upgrades that would be necessary over the next two to five years.

Following a year-long public consultation, the Bank decided to investigate and identify appropriate replacement technology and has invited potential vendors to register their interest by 27 January via the New Zealand Government Electronic Tender Service at www.gets.govt.nz.

"The ROI is the first step in developing the roadmap for the future provision of those services," states the Bank. "Work is also under way on identifying alternative providers of security settlement services, with the release of an expression of interest document expected in the first quarter of 2015."

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