The CHIPS® network is the largest private sector USD clearing and settlement system in the world, clearing and settling $1.8 trillion in domestic and international payments each business day.

The CHIPS network provides fast and final payments and the most efficient liquidity savings mechanism available today. Its patented algorithm matches and nets payments resulting in an extremely efficient clearing process. The liquidity efficiency of the CHIPS network averages 25:1, meaning that $1 of funding contributed to the network supports $25 in settled payment value.

This large value payment system has 41 participants and is the private-sector counterpart to Fedwire.