Partior and LSEG DiSH are building a 24/7 settlement system with J.P. Morgan, Deutsche Bank and Standard Chartered, targeting Q1 2027.
Partior and LSEG Digital Settlement House (DiSH) are developing a system to move settlement bank liquidity around the clock across Partior’s cross-border payments network, the two firms said on 17 September.
JP Morgan‘s Kinexys unit, Deutsche Bank and Standard Chartered are among the banks building the product alongside them.
The banks-facing product, called the Multi-Settlement Bank (MSB) solution, combines correspondent banking with digital settlement routed through LSEG DiSH trust accounts.
It pairs LSEG DiSH’s omnibus trust account framework with Partior’s Multi-Currency Clearing and Settlement Network.
The combination moves settlement liquidity across multiple settlement banks 24/7, the firms said, letting participating banks manage liquidity in real time, reducing dependence on payment cut-off times, and cutting the need for pre-funded bilateral nostro relationships.
The two firms described fragmented settlement across multiple banks as a growing constraint on corporate treasury that repeated attempts to optimise have not fixed.
Rebuilding the corporate operating model for each new bank, settlement asset or network adds to the problem, they said. Fragmented settlement blocks near real-time interbank programmable payments, the firms said, and has moved from inefficient to incompatible.
Partior: removing nostro friction
Banks currently hold pre-funded nostro and vostro accounts at partner institutions to settle cross-border payments, tying up liquidity and confining transfers to each bank’s operating hours.
The MSB framework removes the need for those accounts outside standard hours, the firms said, letting settlement banks manage liquidity without opening bilateral accounts or connecting directly to each proprietary digital network.
The target design sets out five outcomes, the firms said: 24/7 liquidity management without opening nostro or vostro accounts; a single corporate experience built on collaboration between banks; a payments framework with wider visibility, global reach and continuous access; removal of interbank settlement friction; and intraday funding that supports payment-versus-payment (PVP) and delivery-versus-payment (DVP) settlement.
“LSEG DiSH provides the neutral, trusted third-party option required to connect independent payment ecosystems securely with the potential to do so at scale, said Andrew Williams, CEO of Post Trade Solutions at LSEG. Adding the omnibus trust account option to Partior’s clearing scheme lets participating banks manage settlement liquidity 24/7 without direct bilateral accounts or proprietary system integration, he said.
Humphrey Valenbreder, CEO of Partior, said the tie-up removes “legacy nostro friction” and gives banks a “production-ready blueprint” to join the network.
Banks behind the framework
Oliver Harris, Global Head of Kinexys by JP Morgan, said bringing LSEG DiSH into the network lets settlement banks and Kinexys Blockchain Deposit Account clients transact 24/7 across both digital and legacy systems.
Patricia Sullivan, Global Head of Institutional Cash Management at Deutsche Bank, said the framework would let the bank run cross-border transactions and manage liquidity 24/7 by removing pre-funded nostro and vostro accounts outside standard operating hours. The bank is pushing commercial bank money settlement to deliver liquidity efficiency, she said.
Mark Willis, Global Head of Emerging Payments at Standard Chartered, which is a founding shareholder of Partior, added: “As a founding shareholder, Standard Chartered works closely with Partior to advance cross-border payments and settlement.
“Interoperability is key to unlocking next-generation payments infrastructure–the partnership between Partior and LSEG DiSH connects complementary market infrastructures, improving liquidity management and supporting cross-border payments in an always-on global economy.”
The design also lays a foundation for PVP and DVP settlement, including intraday FX and intraday repo, the companies said.
Partior, LSEG and the participating banks are running industry testing. Production go-live and commercial onboarding of additional settlement banks is targeted for the first quarter of 2027.
Partior runs a blockchain-based clearing and settlement network for cross-border, multi-currency payments, and operates in an expanding market for cross-border settlement rails. LSEG DiSH provides trust-account infrastructure to connect independent payment systems.
