Russia remains slow to adopt real-time settlement
The delayed adoption of a real-time gross settlement system (RTGS) in Russia continues to frustrate foreign exchange market participants focused on the development of the Russian ruble, with the local FX industry questioning the real benefit of RTGS to Russia's fledgling market.
A real-time system known as Banking Electronic Speedy Payment (Besp) was established in late 2007 by the Central Bank of Russia as an addition to its existing payment systems. But although widely used in the UK and the
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