BGC's system platform includes functions which allow automatic reconciliation for participating banks. Reconciliation is based on the fact that each transaction is given a unique identity, enabling the bank to automatically reconcile:
- debits made against the amount paid during settlement
- the amount received during settlement against credits made
- the clearing account between a clearing member and an indirect clearing member
Independent reconciliation
New systems can make the most of BGC's reconciliation features using BGC's general platform for settlements. This allows for extremely swift product development, e.g. the supervision of entirely new cash flows. The reconciliation system does not depend on whether the payments have been processed by BGC or not.