Product Introduction

NGSN

Next Generation Settlement Network

Based on NGSN flat distributed network, blockchain and other technologies, it provides a fast, efficient, and low-cost financial highway between countries to deploy new services for the next generation of clearing and settlement networks. NGSN is designed to achieve global, “7*24”(24hours a day, 7days a week), multi-currency, and real-time fund settlement for cross-border trading companies and individuals.


NGSN is the next generation of global transfer clearing network. It integrates banks with regional clearing capabilities into global clearing capabilities through deploying global message forwarding platform network and the NGSN regional processing center. 


IBS is deploying the next generation of clearing network(NGSN) in the world. It is the important financial infrastructure of trading settlement and inter-bank transfer. The entire system has independent intellectual property rights and belongs to the world's leading level in the field of blockchain technology and big data.


The NGSN global transit clearing network is a flattened architecture, with only two layers: clearing banks and commercial banks (and third-party institutions), which can greatly shorten the clearing path and improve clearing efficiency.Through the innovation of the flat distributed clearing model and the use of emerging technologies such as blockchain, it provides global participants with a seamless transfer clearing service to achieve global coverage of clearing areas and clearing windows around the clock.




●   Partners(No regional independent legal entity)


Clearing Institution:

The only organization within the network that was initiated and established by a number of important participants. It is responsible for forwarding messages, clearing business, clearing and clearing network operations within the network.


Settlement Bank:

Some banks within the network and should be audited by NGSN institution to participate in function of fund settlement among co-operate banks' reserve funds; Settlement banks are also could be cooperate banks. Connected to network directly.


Cooperate Bank:

Some cooperate banks are listed in the network directly or indirectly. these banks are responding to client settlement, business message sending and receiving, internal account processing and so on.


Indirect Participants:

Commercial banks with NGSN institution number but haven't join the NGSN clearing network yet. These banks also have funds transfer and other service through processing by cooperate banks.


●   Settlement Mode

Timed multilateral netting settlement mode, timed matching assistance

Use the cooperative bank's settlement account (reserve account) in the settlement bank for each currency to perform actual fund delivery. The NGSN clearing agency acts as an agent to control the NGSN available quota of each participant.


Load balance (Available Credits on NGSN) + Available Balance = Settlement Account Balance


●   No limitation on supporting currencies.


●   No limitation on supporting global settlement.