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TCH’s CHIPS Network Extends Operating Hours

New York – Beginning today, the CHIPS network from The Clearing House is extending the time that CHIPS closes for receipt of new payment messages from 5 p.m. to 6 p.m. ET.

A survey of CHIPS participants indicated strong support for extending operating hours and the CHIPS Business Committee, which includes representatives from CHIPS network participants, approved the decision. The extension in operating hours represents an important step in support of larger strategic aspirations to operate CHIPS 24x7.

“This extension of CHIPS operating hours represents our commitment to remain responsive to participant feedback and to provide a premium level of service to CHIPS participants and their end user customers,” said Richard Dzina, Senior Vice President, The Clearing House. “This extension in operating hours will allow CHIPS to support more late-day payment activity, including West Coast volume, and will allow CHIPS participants to experience the benefits of liquidity savings deeper in the operating day.”

Financial institutions in the U.S. and around the world rely on CHIPS to clear and settle USD payments reliably and with settlement finality. CHIPS is the largest private sector USD clearing and settlement system in the world, settling an average of $1.8 trillion in payments per day on a comparatively small funding base. CHIPS patented liquidity savings algorithm also matches and nets payments, resulting in an extremely efficient settlement process. The liquidity efficiency of CHIPS is presently 27:1, meaning that $1 in funding contributed to the network supports almost $27 in settled value, with most payments settling in mere seconds. 

CHIPS is also the premier USD clearing platform for international payment activity, with approximately 95% of CHIPS payments having a cross-border leg. TCH continues to advance work to standardize CHIPS payment message formats and pursue other service enhancements to add value to CHIPS participants and make the network more robust.

About The Clearing House
The Clearing House operates U.S-based payments networks that clear and settle more than $2 trillion each day through wire, ACH, check image, and instant payments. It is the nation’s most experienced payments company, with a long track record of providing secure and reliable systems, payments innovation, and strategic thought leadership to financial institutions. Most recently, The Clearing House has revolutionized U.S. payments infrastructure with the RTP® network, which supports the immediate clearing and settlement of payments, along with the ability to exchange related payment information across the same secure channel. These RTP capabilities enable all financial institutions to offer safer, faster, and smarter digital transaction services for their corporate and retail customers. Learn more at


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Greg MacSweeney
The Clearing House



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