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    • RITS Low Value Feeder Project

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    This major RITS initiative comprises three main parts:

    • Network Migration – this covers the migration from legacy bilateral links to a common payments network using modern architecture. It includes the establishment of RITS network connectivity with Members utilising the Telstra Community of Interest (COIN) infrastructure and SWIFT's FileAct service.
    • The Low Value Clearing Service (LVCS) – this service facilitates interconnectivity between the COIN and SWIFT so that RITS Members can exchange clearing files across their preferred network.
    • The Low Value Settlement Service (LVSS) – this service facilitates the lodgement of settlement instructions for low-value clearings directly into RITS using either COIN or SWIFT.

    Together, these three components represent a new settlement infrastructure for low-value payments that will improve timeliness and efficiency. This infrastructure modernisation also aims to provide a platform to support product innovation and customer service.


    An Overview of Governance Arrangements (PDF) for the LVCS and LVSS was issued in December 2009. It sets out governance and service principles for the operation of the services developed in this project.