An institution wishing to become a RITS Member must lodge an application with the Reserve Bank of Australia. Membership is mandatory for:
- institutions holding Exchange Settlement Accounts (see Exchange Settlement Account Policy);
- Batch Administrators (see Eligibility Criteria for the Batch Administrator); and
- institutions dealing with the Reserve Bank in its domestic market operations (see Domestic Market Operations).
Applying for RITS Membership
Three categories of RITS Membership are available: Banks, Other Holders of Exchange Settlement Accounts (ESAs) and Non-ESA Holders. Non-ESA Holders do not have an ESA and belong to RITS for the purpose of being a Batch Administrator or being an eligible counterparty of the Reserve Bank in its domestic market operations.
An institution wishing to apply for RITS Membership should contact the Reserve Bank's Payments Settlements Department.
For institutions that require an ESA, further information on the role of ESAs, the application process and criteria for eligibility is provided in the Exchange Settlement Account Policy.
Current RITS Members
The RITS Membership List includes Banks, Other Holders of ESAs and Non-ESA Holders.
RITS Fees and Billing Information
The Schedule of Fees includes fees for transactions, special requests for information and connection to RITS.