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… our 40-year history as they kept Canada’s national payments systems operating safely and securely, advanced efforts on both Lynx, our new high-value system, and the Real-Time Rail (RTR), and improved user experience on our Automated Clearing and Settlement System (ACSS)/United States Bulk Exchange (USBE) system. We …

… number 340) began operations as a Large Value Transfer System (LVTS) direct participant. With the addition of ICICI … About the LVTS The LVTS is Canada’s electronic wire system used to send large-value, time-sensitive payments in … ensure the continued safety and soundness of the LVTS, a system critical to the overall stability of Canada’s …

… adopting ISO 20022.  “Modernization of the Canadian payment system, which includes the implementation of the ISO 20022 … prospective benefits for all users of the Canadian payment system.”  CPA research on adopting ISO 20022 indicates costs … “Establishing a shared vision for the Canadian payments ecosystem in the future and understanding the efforts required …

… that drive the emergence of tiered relationships in payment systems and other financial market infrastructures. More … and resolution of tiered structures in a modernized payment system; specifically those considerations not adequately … for Financial Market Infrastructures (PFMI). Not having a systematic approach to understanding tiering arrangements …

… innovation, competition and diversity in Canada’s payment systems, and Keith Martell President and CEO of First … the last day of operations for the Large Value Tranfer System (LVTS) on April 29. The LVTS served as Canada’s high-value payment system for over 22 years and cleared and settled over 133 …

… modernization journey in partnership with the payment ecosystem, effective August 12, 2024 OTTAWA, Wednesday, June … support our drive forward as we modernize Canada’s payment systems.” For over five years, Hawkins was the Global Head … with advances to broaden access to Canada’s payment systems through the recent Royal Assent of the Canadian …

… team are working with Payments Canada and the broader ecosystem to bring Lynx, Canada’s new high-value payments system, to life in 2021. Peter also talks about his role as … is CIBC preparing for Lynx? CIBC is ensuring its internal systems and supporting teams are in sync for the upcoming …

… with our partners, our Vision for a modernized payments system includes addressing these pain points to enable … are recognized obstacles to this Vision – like aligning ecosystems, fraud, privacy, legal and regulatory – few would … Moreover we need to be able to connect to other payments systems using the same standards and operating parameters. …

… as we operate Canada’s national clearing and settlement systems. Payments Canada plays a systemic role in the Canadian financial system and we secure the infrastructure by working directly …

… providers (PSPs) to safeguard funds and the financial system with operational risk requirements. PSPs will also be … critical step towards broadening access to Canada’s payment systems. Bringing PSPs under the regulation of the Bank of … Payments Canada membership and ultimately become payment system participants should they meet the requirements. …