RBI is introducing RTGS in India and it has advised that participating member banks need to put in place a Liquidity Management System (LMS). Guidelines from RBI require the LMS to take care of Liquidity Pooling, Collateral Management and Payment Scheduling. Bankstar’s METEOR (Member Bank Transaction Exchange Over RTGS) is comprehensive Liquidity Management System that complies with the guidelines set forth by RBI. Key Features of METEOR Include :

Send / Receive Messages in SFMS
Outgoing Queue Management
Monitoring and Managing RTGS Transactions
Monitoring and Managing Intra-Day Liquidity
Interfaces to PI, HCS, CFMS and NDS
Pseudo On-Line Interfaces

Send / Receive Messages in SFMS
All messages to and from Meteor are fully SFMS compliant. This includes RTGS payment transactions, HCS
message exchange, CFMS and NDS transactions.

Outgoing Queue Management
Queues are managed based on priorities and liquidity levels which can be assigned by member banks. This
isolates member banks in case of Gridlock in the RTGS system.

Monitoring and Managing RTGS Transactions
Outward RTGS transactions can be continuously monitored. Parameters such as priorities and time schedules of outgoing transactions can be changed based on dynamically changing situations.

Monitoring and Managing Intra-Day Liquidity
Meteor allows effecting Repo’s and Reverse Repo’s in respect of IDL requirements.

Interfaces to PI, HCS, CFMS and NDS
Meteor has interfaces to the Participant Interface, Host Clearing System, Centralized Funds
Management System and Negotiated Dealing System.

Pseudo On-Line Interfaces
Meteor’s interfaces are pseudo on-line, which allows effecting of transactions in real-time
with the security of batch interfaces.