HCSD is a direct member of TARGET2 (the ECB Euro payment system). Through the HCSD Ancillary System, it provides real time cash payments to/from market participants. For this purpose each market participant has to be serviced by a Settlement Bank that participate in HCSD ASI.
The HCSD System provides to its Members detailed information about the daily financial obligations, and the current cash balances, as well as detailed cash transactions.
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