Northern Trust (NTRS) announced today it has become a member of Australia’s High Value Clearing System. Northern Trust will now process and settle its own high value payment obligations on a real-time gross settlement basis via the Reserve Bank and Information Transfer System. As a direct clearer of Australian Dollars, Northern Trust will manage its intra-day payment flows directly with other members of the High Value Clearing System and perform all other required activities relating to cash settlements for high value payments that were previously conducted by Northern Trust’s sub-custodian in Australia.

source https://finance.yahoo.com/news/northern-trust-becomes-member-bank-230000310.html?.tsrc=rss