Intraday multiple clearing method - InterGIRO2

In the course of intraday multiple clearing, Clearing Members may constantly submit payment orders to GIRO Zrt. within the timeframe specified in the ICS Business Policy, as defined in the NBH Regulation on the Clearing of Cash Transactions, as of 2nd July 2012.

Initially, GIRO Zrt. shall clear accepted and covered orders every two hours every day for five cycles, and from 7th September 2015 onwards, it clears orders received and covered every hour for ten times a day, and will transmit the clearing result to the Clearing Members and the NBH for clearing. In each cycle, the amount of required coverage is determined in parallel with the preliminary calculation of the positions. The actual coverage for the clearing is determined by GIRO Zrt. technical account of the GIRO in VIBER. Unfunded orders are rolled over to the next cycle or cancelled at the end of the day. After accounting, the clearing is effected by clearing the technical account in VIBER, i.e. by transferring the balances calculated with the clearing position.

The InterGIRO 2 - Intraday Clearing process and messages are provided in the ICS IG2 EIS document, which is available to our registered users after logging in, at our GIRONLINE PLATFORM.


The InterGIRO2 - Intraday multiple clearing mode platform clears transfers. For IG2 clearing purposes, it is irrelevant whether the transfers were originally received by the transferring bank as individual or group orders. In the IG2 platform, it is possible for a rejection by the beneficiary's bank to contain a precise reference to the original transfer (the rejection contains the relevant details of the original transfer). There is an option to initiate a revocation of the transfer, which can be accepted by the beneficiary's bank with a positive reply or rejected with a negative reply message.

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