A Transaction is the movement of funds between RTGS accounts. The Transactions API enables Participants to retrieve various aspects of information associated with the Transactions that they are authorised. For example, a participant can:

• Retrieve a list of Transactions
• Retrieve a specific Transaction
• Retrieve Clearing details associated with a specific DNS Transaction

This API is usable by any Participant organisation that has an RTGS Account with Bank of England irrespective of the Schemes they are subscribed to. The below image provides the list of Transaction types for which Transaction details can be retrieved.

Transaction Details:

The Transactions API provides various parameters to retrieve a filtered list of Transactions. These include:

• Transaction Type Code
• Transaction Sub Type Code
• Transaction Status Code
• Participant ID
• Settlement Date
• Creditor Participant ID
• Debtor Participant ID
• Settlement Amount
• Transaction Reference Number
• Creditor Account Number
• Debtor Account Number
• Transaction Received At

Below are the list of attributes that are retrieved for each Transaction. If Participants want to retrieve the full payment message in the raw format, as received by BoE via the InterAct service, they can use the Settlement Instruction ID retrieved from Transactions API. Refer to Full Payment Messages API for further information on this process.

State Model for Transactions

State Transition Model

Below are the various Transaction Status Codes and their definitions.

Transaction Clearing Details:

Clearing Details is a message used by Deferred Net Settlement Payment System operators to submit details of Settlement data to the RTGS Processor (or to MIRS). This endpoint allows the consumer to retrieve a list of clearing details based on the transaction Id, that the consumer is authorised to. Below are the list of DNS Clearing attributes that are retrieved for each Transaction.

Filter Values:

The Transactions API has various fields that have a predefined set of values e.g. Transaction Type Code, Transaction Status Code etc. To retrieve the possible values of all these fields Participants can use the Filter Values API Get Resource by passing the relevant Resource Name of the field.

For detailed information around fields that have a predefined set of values across all RTGS API please refer to the following page Filter Values API.

Transactions API Use Cases & Benefits

• Automated retrieval of Transaction details
• Near real-time monitoring of Transaction statuses
• Identify and manage potential Transactions issues efficiently
• Manage risks and take timely decisions around transaction issues
• Fuels innovation
• Reduction of manual effort
• Cost saving
• Integrated user experience

Supported Developer Toolkit:

Bank of England RTGS APIs will be supported by Swift Microgateway and Swift SDK.Both solutions, provided by Swift, offer access to the APIs. Bank of England hosts a reference implementation based on Swift Microgateway and we can help you start with the API connectivity using this option.

If you are already a user of any of these solutions, just download the API Specification and follow the Swift recommended steps to import it into your implementation.