As those new capabilities will be widely utilized, the new BOJ-NET will demonstrate a greater ability to support financial institutions that seek to achieve a higher level of straight-through processing and to address the future increase in cross-border settlements. The new BOJ-NET is being developed in two phases in order to make a smooth transition to the new system (Chart 8).
In January this year, the first phase of the new BOJ-NET was launched, as originally planned, with the services related to the auction for JGB issuance and  BIS central bankers’ speeches  5  those related to the monetary policy operations.