A method and system for the secure transmission of funds

A method of synchronizing financial transaction data between internationally-disparate initiating and beneficiary computer systems, comprising:

• presenting, from an RTGS computer system, a plurality of possible foreign exchange rates to an initiating computer system;
• selecting, by the initiating computer system, one of the plurality of possible foreign exchange rates at the RTGS computer system for use to complete a given financial transaction;
• time-locking by the RTGS computer system the selected one of the plurality of possible foreign exchange rate and transaction data corresponding to the given financial transaction;
• storing, in a distributed ledger database spread across a plurality of independent computer systems, a timed liquidity lock to ringfence an amount in an account associated with the initiating computer system sufficient to satisfy the given transaction, the timed liquidity lock having a fixed time period of no more than 30 seconds;
• after the storing in the distributed ledger database, transmitting a message from the RTGS to both the initiating computer system and a receiving computer system indicating that the timed liquidity lock has been activated;
• facilitating completion of the given transaction between the initiating computer system and the receiving computer system at the selected one of the plurality of possible foreign exchange rates within the fixed time period;
• and
• receiving a status message, from the receiving computer system to the RTGS computer system, indicating a completion of the given transaction prior to expiration of the fixed time period,
• wherein the ringfence times-out after the fixed time period to prevent the RTGS computer system from completing the given transaction after the fixed time period.

A non-transient computer-readable storage medium having stored thereon instructions that, when executed by a processing system, configure the processing system to:

• present, from an RTGS computer system, a plurality of possible foreign exchange rates to an initiating computer system;
• select, by the initiating computer system, one of the plurality of possible foreign exchange rates at the RTGS computer system for use to complete a given financial transaction;
• time-lock by the RTGS computer system the selected one of the plurality of possible foreign exchange rate and transaction data corresponding to the given financial transaction;
• store, in a distributed ledger database spread across a plurality of independent computer systems, a timed liquidity lock to ringfence an amount in an account associated with the initiating computer system sufficient to satisfy the given transaction, the timed liquidity lock having a fixed time period of no more than 30 seconds;
• after the storing in the distributed ledger database, transmit a message from the RTGS to both the initiating computer system and a receiving computer system indicating that the timed liquidity lock has been activated;
• facilitate completion of the given transaction between the initiating computer system and the receiving computer system at the selected one of the plurality of possible foreign exchange rates within the fixed time period;
• and
• receive a status message, from the receiving computer system to the RTGS computer system, indicating a completion of the given transaction prior to expiration of the fixed time period,
• wherein the ringfence times-out after the fixed time period to prevent the RTGS computer system from completing the given transaction after the fixed time period.