real-time gross settlement (RTGS) system

What is real-time gross settlement (RTGS) system?

real-time gross settlement (RTGS) system definition and meaning on Finance terms:
A settlement system in which processing and settlement take place on a transaction-by-transaction basis in real time. <

 

reference: https://www.ecb.europa.eu/home/glossary/html/index.en.html

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