Bank of England, MAS, and Bank of Thailand Complete Trial of Synchronised FX Settlement

The Bank of England, the Monetary Authority of Singapore (MAS), and the Bank of Thailand (BOT) have published findings from their collaboration on Project Meridian FX APAC, which trialed synchronised cross-border foreign exchange (FX) settlement. The trial demonstrated that synchronised settlement can be achieved across central bank systems with varying technologies, effectively reducing FX settlement risk and enhancing liquidity efficiency. This initiative aims to support interoperability across wholesale settlement environments.