SAPIER provides an optional interface to SWIFT.
All messages generated by SAPIER follow SWIFT standards and can be sent
over a Central Bank's WAN or via the SWIFT Network.
Warehousing facilities are available with a parameter to limit the number
of days that a transaction can be warehoused.
SAPIER allows queuing with options of LIFO, FIFO or FAFO. Queues of Member
Banks can be managed by a Central Bank and can, at it's discretion, also
allow it's member banks to manage their outgoing queue. A Central Bank
can also temporarily freeze the queues of the member banks when events
such as Gridlock Resolution occur.
SAPIER takes care of Gridlock based on a "Gridlock Busting"
Repo and Buy-back
One of the common ways to increase intra-day liquidity is a Repo. Repos
can be effected manually or automatically. Buy-backs of these repo-ed
securities can also be effected through SAPIER.
Net Settlement of Positions
At the end of a day, positions of each participating banks is calculated
and a message is sent asking them to settle their positions.
Real-time Position and Drill-down Query
A Central Bank can view the real-time positions of Member Banks at any
point of time. Details of the selected bank are displayed including payment
details, securities transferred, accounting and repos. Credits, Debits
and balance for each of these are displayed and each of these can be queried
to get the relevant details, the drill-down continues until relevant details
of a selected transaction becomes available.
Customizable Charges, penalties and interest
Charges, penalties and interest calculation can be set up by a user to
meet a Central Bank's evolving requirements.
Positions and Limits
Almost any type of Limit can be set up using the Position and Limits (PAL)
module. Some examples are: Credit / Debit balance limit for a particular
bank, minimum / maximum amount of Payments to be processed in a particular
period, the amount and types of Securities that can be Repo-ed etc.
SAPIER has an on-line interface to Bankstar Technologies' Accounting Software.
In addition, should a Central Bank have an existing baseline accounting
system, provision has been made to interface to it.
Data backup and restore facilities along with other Disaster Recovery
facilities such as Hot Swapping and Mirroring ensure smooth functioning
of the system.
External Participant Services
A Central Bank can allow External participants to the RTGS to login to
SAPIER and access certain services. A Central Bank can allow / disallow
the following :
Outgoing Queue Management
Viewing of Incoming Queues
Viewing of Accounts Statement