Electronic switch (payment transactions)
The electronic counter ( ELS ) was an electronic access medium to the RTGS system of the Deutsche Bundesbank , introduced in January 1992. Here, transfer orders (large- value payments ) could be submitted and further processed by the participating banks by means of remote data transmission or data carrier exchange. This ensured that payments were forwarded electronically from the order bank to the recipient bank. The aim of the ELS was the immediate execution and early finality of payments.
ELS was replaced by RTGSplus in 2001 .