market infrastructure (MI)
A multilateral system among participating institutions, including the operator of the system, used for the purpose of clearing, settling or recording payments, securities, derivatives, or other financial transactions. This includes, for example, payment systems such as real-time gross settlement systems and automated clearing houses, central counterparties, central securities depositories, securities settlement systems, and trade repositories.
Market Infrastructure Closed User Group (MI-CUG)
A Closed User Group implemented in support of a service managed by a market infrastructure (MI).
Market Infrastructure Resiliency Service (MIRS)
A generic payment settlement system operated by Swift on behalf of a market infrastructure in the event that the market infrastructure's Real Time Gross Settlement (RTGS) system is completely unavailable. It is designed to supplement the operational resilience of the market infrastructures' RTGS service by serving as an additional back-up site in addition to their existing primary and back-up sites. This generic payment settlement system processes and settles payments on a transaction-by-transaction basis in real time. It settles gross payments between members starting from the balances held at the market infrastructure at the time of failure.
Related linksMarket Infrastructure Resiliency Service (www.swift.com)Market Infrastructure Resiliency Service documentation