Trans-European Automated Real-time Gross Settlement Express Transfer - a payment system comprising a number of national real-time gross settlement (RTGS) systems and the ECB payment mechanism (EPM). The national RTGS systems and the EPM are interconnected by common procedures (interlinking) to provide a mechanism for the processing of euro payments throughout the euro area and some non-euro area EU Member States.
The Trans-European Automated Real-time Gross Settlement Express Transfer system is a real-time gross settlement system for the euro. Target is composed of the national RTGS systems, the ECB payment mechanism and interlinking.
