Responsibilities of the Scheme Manager & IPS Operator
The IPS operator is responsible for local configuration, deployment and testing of the Nexus Gateway. The application itself could be run on-premises or on cloud, depending on the IPS’s preference.
The Nexus Scheme manager is responsible for:
- Developing the Nexus Gateway software: The Scheme Manager would be responsible for developing and maintaining the Nexus Gateway software, although it is likely to outsource this work to the third-party technology provider, along with ongoing support. The Scheme Manager would also be prioritizing and scheduling updates to the software
- Acting as the Certificate Authority: The Certificate Authority is required to ensure that the Nexus Gateways are provided with a trust and encryption mechanism (certificates) for message exchange and that only approved parties (IPSs, Nexus-enabled banks and PSPs, FX Providers and Liquidity Providers) are able to send requests or instructions to the Nexus Gateway. An IPS would request certificates and credentials on behalf of its members after it has verified that the member meets the technical and regulatory requirements of the Nexus Scheme.