Swiss Financial System
SIC Instant Payments
SIC Instant Payments is the real-time payment capability within Switzerland’s SIC infrastructure designed for near-immediate account-to-account transfers around the clock.
Definition
SIC Instant Payments is the real-time payment capability within Switzerland’s SIC infrastructure designed for near-immediate account-to-account transfers around the clock.
Transaction path
The relevant distinction is between payment, clearing, securities custody and final settlement. A transaction can pass through several infrastructures, with cash and securities legs subject to different operating and risk controls.
Why it matters
Infrastructure determines when a payment becomes final, how counterparty exposures are reduced and what happens when a participant fails. During stress, timing and collateral rules can matter as much as market prices.
What to monitor
Focus on settlement finality, operating hours, eligible participants, collateral arrangements, default procedures and dependencies between payment, clearing and securities-settlement systems.