Which RTGS payment system is used in Hong Kong?

The Clearing House Automated Transfer System (CHATS) is the RTGS payment system used in Hong Kong. Established to facilitate high-value payment transactions, CHATS operates on a real-time gross settlement basis, meaning that transactions are settled individually and instantly rather than in batches. This system enhances the efficiency of the payment infrastructure in Hong Kong, helping to mitigate settlement risk and providing immediate liquidity to participants.

CHATS supports various currency denominations, primarily focusing on the Hong Kong dollar, and it is essential for interbank transactions as well as for settling other payment systems that operate in the jurisdiction. This capability makes CHATS a critical component of Hong Kong's financial infrastructure, fostering a robust economic environment and ensuring the smooth functioning of payment operations.

In contrast, the other systems mentioned are specific to different regions or countries, hence not applicable to Hong Kong. RITS is part of the Australian payment system, Fedwire serves the United States, and TARGET2 is used in the European Union. Each of these systems is tailored to the specific regulatory and operational frameworks of their respective jurisdictions.