Monetary Authority of Singapore Annual Report 2011/2012
Our Work

CURRENCY AND PAYMENT SYSTEM

MEPS+

MAS operates the MAS Electronic Payment System (MEPS+), Singapore’s real-time gross payment and securities settlement system, which enables its participants to make immediate funds transfers and settlements for their securities transactions. The system also settles foreign exchange trades through CLS Bank, operator of the multi-currency cash settlement system. In November 2011, MEPS+ was upgraded to support the Society for Worldwide Interbank Financial Telecommunication (SWIFT) new message format and new business requirements to achieve better risk management and efficiency. MAS conducts regular contingency exercises with the MEPS+ participants, CLS Bank and SWIFT to ensure the national payment system remains stable and resilient, hence minimising market disruptions.