Rules and procedures that determine the order in which transfer orders are released from the queue and processed – e.g. “first in, first out” (FIFO). Optimisation routines may or may not be used. See also
optimisation routine queuing
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queuing
An arrangement whereby transfer orders are held in a queue by the sending participant or by the system until they can be processed in accordance with the rules of the system. In an RTGS system, payments are typically “queued” because of a lack of funds or insufficient access to intraday credit. In netting systems, payments are “queued” in order to prevent caps from being exceeded. See also
cap (limit) real-time gross settlement (RTGS) system
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quick tender
The tender procedure used by the Eurosystem for fine-tuning operations when it is deemed desirable to have a rapid impact on the liquidity situation in the market. Quick tenders are executed within a time frame of one hour and are restricted to a limited set of counterparties.
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