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DJFDJF

DJF correspondent banking: who clears the DJF

Banks without direct access to DJF clearing settle through a correspondent that has it. DJF settles through its domestic clearing system.

DJF in the instruction data

Aggregate figures from the current SWIFT standing settlement instruction dataset.

9
banks publish a DJF instruction
6
correspondents serve DJF
78%
served by the top three
5
countries represented

Individual instructions, BICs and account numbers are available to subscribers.

Tracing a DJF chain

Each instruction names the institution holding that bank's DJF account. Following those links repeatedly ends at a bank that publishes no onward DJF instruction — the ultimate clearer, with direct access to clearing. That is where the money actually settles before moving inwards to the beneficiary.

Who clears DJF payments?
DJF settles through the local clearing system. Banks without direct access hold a nostro account with a correspondent that has it, so a DJF payment reaches the beneficiary by settling at that correspondent first and moving inwards. In the current dataset 6 distinct institutions act as DJF correspondents.
How concentrated is DJF clearing?
The three largest DJF correspondents between them serve about 78% of the banks that publish a DJF instruction. Concentration matters because the withdrawal of one correspondent can affect a large number of respondent banks at once.
How do I find a bank's DJF correspondent?
Search the bank's BIC, select DJF, and the chain resolves hop by hop to the institution that clears the currency, including the nostro account number on each relationship.
Trace a DJF chainHow it works

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