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    • Property Settlement Project

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    New functionality has been developed in RITS to settle the interbank cash settlement leg of e-conveyancing transactions. This functionality forms part of a national e-conveyancing solution for Australia, being delivered by Property Exchange Australia Limited.

    The first property settlement using the new functionality is expected to occur on 03 November 2014. Following that there will be gradual migration to the new service.

    The E-Conveyancing and Interbank Settlement in RITS Information Note for Members (PDF) provides information on the interbank settlement in RITS of property transactions.