RITS
Reserve Bank Information and Transfer System
RITS USER INTERFACE PROJECT: MEMBER INFORMATION PAPER No. 1
This is the first Information Paper to RITS Members concerning the Reserve Bank’s
RITS User Interface Project.
This Information Paper introduces the project, covering the following areas:
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What is the RITS User Interface Project?
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Is the project scope similar to the SFE’s FINTRACS replacement project?
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What will the new interface look like?
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What are the main benefits for users?
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What is the project timetable?
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How will the new interface be accessed?
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Review of security protocols and use of digital certificates
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Technical requirements
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Member liaison
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Contact points at the Reserve Bank
WHAT IS THE RITS USER INTERFACE PROJECT?
It is a major project to update the user interface for on-line (terminal) access to RITS.
The existing interface has been used since RITS commenced operations as a
securities depository in 1991 and is the same as that currently used to access the
Austraclear System using the “FINTRACS” application.
This interface has proved its reliability and stability over a number of years.
However, its age poses problems that make its replacement of high priority.
The underlying software used for RITS screens is outdated. This limits vendor
support, restricts options for future development and over time it will become difficult
to obtain technical staff with the skills and experience required for software support.
The current interface is character-based and so lacks the features that are standard
across modern windows/browser applications that make their use relatively intuitive
and straightforward for users. By contrast, RITS screens are cumbersome and
generally not “user-friendly”, with inconsistencies developed over several years that
both frustrate experienced users and make the learning process more difficult for new
users.
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RITS USER INTERFACE PROJECT: MEMBER INFORMATION PAPER No. 1
The Reserve Bank’s objective is to provide a modern interface using industry standard
tools, that will be simpler for users to learn and operate and which will provide the
Bank with a better footing for future system development and support. It is the first
step in the development of the “next generation” of RITS as a best practice interbank
settlement system.
IS THE PROJECT SCOPE SIMILAR TO THE FINTRACS REPLACEMENT PROJECT?
The SFE’s Austraclear System Replacement Project is a total replacement of the
FINTRACS software currently used for the Austraclear System. This includes the
“front end” i.e. the on-line screens, and all “back end” business processing and is,
necessarily, a “big bang” implementation.
The RITS User Interface project is largely limited to the front end i.e. a modernisation
of screen presentation and logic and related processes. There will be no change to
core RITS back end functionality such as feeder system processing, the System
Queue and SWIFT messaging. Completion of this project will, however, provide the
Reserve Bank with greater flexibility for future technical redevelopment of the core
system as appropriate.
WHAT WILL THE NEW INTERFACE LOOK LIKE?
The new interface will be “thin client” browser style, of a kind that is widely used for a
range of business applications. It will employ standard web page features such as
drop down selection boxes for appropriate entry fields and use of scroll bars to review
lists of information.
A header will provide key session and user information and a side-bar menu will allow
selection of available functionality. Movement within the new interface will be via
mouse or keyboard, and utilise standard browser navigation principles.
WHAT ARE THE MAIN BENEFITS FOR USERS?
The new interface will offer wide benefits to users relative to the current interface,
including:
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Improved usability and easier training of new users, with familiar web style
presentation and mouse or keyboard navigation, and a generally more intuitive
operation, as indicated by the features below.
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Consolidation of related functionality under a clear module heading such as
“Cash Transfers” or “ESA Management – Queued Payments” - it will not be
necessary to remember a range of sometimes cryptic function names. Related
commands (eg change ESA status, change Credit Status) will, where practicable,
be accessed through one screen rather than different screens.
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RITS USER INTERFACE PROJECT: MEMBER INFORMATION PAPER No. 1
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Key modules available to Members will include:
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Cash Transfers - incorporating cash transfer enquiry, entry, correction,
deletion and authorisation functionality. (ESA holders only)
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ESA Management – incorporating sub-limits, managements of cash account,
credit and ESA statuses for queued payments and status defaults and all
related enquiry and authorisation functionality. (ESA holders only)
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Tender Bidding – incorporating all functionality for tender bidding and
related enquiries. (All RITS Members)
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Other Member modules will cover areas such as information and messages,
electronic agreements, standard reports and downloads, batches and user
administration.
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It should be readily apparent to a user what actions they can perform and what
information may be entered in each field. For example, by use of drop down
boxes in entry/selection fields for selection from a range of allowable options
(e.g. from “Deferred”, “Active” or “Priority” for an ESA status) and system
prompts.
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Easier printing and download facilities.
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The Reserve Bank is also taking the opportunity afforded by this project to
improve the range of information available to banks on-line.
By way of
example, areas under consideration include a consolidated “ESA position
monitor” drawing together information such as ESA balance and queued
payments, and improved access to information on SWIFT payment messages.
WHAT IS THE PROJECT TIMETABLE?
Current planning is for a phased implementation of the new user interface,
commencing around the middle of 2005.
Implementation will be preceded by
Member training and the availability of an industry testing environment and user
guides for several weeks prior to the cut-over to production.
Key functionality used by Members, including cash transfers and that for ESA
management, is expected to be delivered in the first phase. This will enable users to
use the new functionality for most day-to-day operational tasks. Remaining Member
functionality would continue to be accessed using the existing interface until its
migration to the new interface, expected at this stage to be towards the end of 2005.
To facilitate this, users will be able to be logged on to RITS using the new interface
and old interface concurrently (access to the old interface will only be for functionality
which has not yet migrated to the new interface).
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HOW WILL THE NEW INTERFACE BE ACCESSED?
The Reserve Bank and SFE Corporation have agreed that access to RITS using the
existing and new interfaces will continue to be across the Austraclear network (ANNI)
in the medium term, providing continued cost-effective access to both RITS and the
Austraclear System.
Institutions with low transaction activity that choose not to have a dedicated “leased
line” currently use dial-up facilities for both RITS and Austraclear (FINTRACS). This
facility is being discontinued for access to the Austraclear Replacement System.
A dial-up facility will continue to be available for access to RITS, at least until the final
phase out of the existing interface. The Reserve Bank will review the feasibility of use
of the Internet, subject to strict security guidelines, for small and other institutions
(the latter perhaps as a fall-back capability only).
REVIEW OF SECURITY PROTOCOLS AND USE OF DIGITAL CERTIFICATES
The Reserve Bank is taking the opportunity provided by this major project to review
RITS security protocols against the high standards appropriate for RITS as a
systemically important payments system. These standards relate to the four key
security pillars below:
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Authentication – the system must be able to verify the identity of authorised
users and restrict access to RITS access to authorised users only.
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Confidentiality – data exchanged between RITS and Members must be
protected from unauthorised scrutiny.
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Integrity – data exchanged between RITS and Members must be protected
from modification.
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Protection from repudiation – the sender of an instruction to RITS cannot
deny having created and sent that instruction.
To achieve these aims with the required high degree of certainty, the Reserve Bank is
examining options for use of Public Key Infrastructure (PKI) to supplement other
security measures. The effectiveness and security of a PKI system depends on the
safe storage of private keys. An option being seriously considered by the Reserve
Bank is the use of personal hardware tokens by RITS users to safely store their digital
certificate(s). If introduced for RITS, these digital certificates would be used for user
authentication (in addition to logon and password) and for digital “signing” of user
actions for “value” transactions such as cash transfers and changes to sub-limits and
queued payment statuses.
Personal hardware tokens are very small and thus are portable for user convenience
(eg they can be readily carried on a key ring) and would be used for RITS by being
inserted in the USB port of a user’s PC.
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RITS USER INTERFACE PROJECT: MEMBER INFORMATION PAPER No. 1
It is likely that Members may wish to also store their Austraclear certificates (being
introduced by the SFE for access to the Austraclear Replacement System) on these
hardware tokens. The Reserve Bank is exploring this possibility with the SFE.
TECHNICAL REQUIREMENTS
The Reserve Bank will explore its plans for the new interface with a Technical Working
Group, consisting of staff nominated from several banks. The objective of this is to
ensure that issues affecting banks’ systems are identified at an early stage and
appropriate solutions identified.
The following sets out initial technical information on the proposed new interface, to
be discussed in detail with the Technical Working Group:
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The interface will be thin-client, web browser based, requiring HTTP connectivity
between the PCs of end users and RITS across the ANNI network. This is also
required for the Austraclear Replacement System. Note that HTTPS requests
may be compressed between RITS and users’ PCs to achieve required response
times.
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Members’ proxies and firewalls should not timeout pending HTTP/HTTPS requests
in less than 60 seconds and, desirably, should be configured for a longer timeout
period to assist their users.
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Member security permissions on desktop PCs should permit JavaScript, signed
applets, and session cookies.
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The application will require Sun’s Java Runtime Environment v1.4.2 or later to be
installed on desktop PCs.
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The browser interface does not require other software installations. However,
some screen information may be cached on desktop PCs to reduce network traffic
and hence improve response times. Accordingly, Members’ proxy and firewall
configurations should respect cache control.
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As required by the Austraclear Replacement System, desktop PCs should use
Internet Explorer 6 as the browser software.
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Desktop PCs should be of at least Pentium III standard, and run either Windows
2000 or Windows XP. Memory requirements are 256MB minimum; 512MB is
recommended. Screen resolutions should be 1024 X 768 pixels. Desktop PCs
using the Austraclear Replacement System will meet these requirements.
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Members will be advised of any digital certificate requirements once the Reserve
Bank has completed the review of RITS security protocols noted above. These
requirements may include installation of driver software to access hardware
tokens connected to the USB port of users’ PCs.
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A series of Technical Information Paper/s will provide detailed information for banks’
technical staff arising from these consultations.
MEMBER LIAISON
Member feedback will be encouraged at all stages of the project, with active
consultation via:
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A Technical Working Group (as noted earlier) and a Business Focus Group.
Selected banks have nominated staff to participate in these groups. The Reserve
Bank will preview each of the proposed functional modules with the Business
Focus Group to ensure banks’ business needs are properly addressed.
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All Members will be informed of matters discussed with the Working Groups,
general plans for the new interface and project progress through Member
Information Papers.
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Individual meetings with a broad range of banks. Initial consultations with
selected market participants were conducted earlier this year. Any Member
wishing to discuss aspects of the project with the Reserve Bank is encouraged to
do so; please refer to the contact points listed below.
Later this year, each Member will be asked to nominate business and technical
contacts, to be responsible for co-ordinating any specific member activities.
Closer to implementation, information seminars and training sessions will be held.
CONTACT POINTS AT THE RESERVE BANK
If you have any questions about any of the material in this Information Paper, please
contact:
Business questions
Nola McMillan Senior Manager (Planning & Client Relations), Payments Settlements
Telephone: (02) 9551-8941, Email: mcmillann@rba.gov.au
Shaughn Wilkie Manager (New Projects), Payments Settlements
Telephone: (02) 9551-8947, Email: wilkies@rba.gov.au
Technical questions
David Noble
Senior Manager (RTGS Systems), Payments Settlements
Telephone: (02) 9551 8981, Email: nobled@rba.gov.au.
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