How does settlement on JikoNet work?

Funds are transferred across Jiko Pockets, which combine a bank account and a brokerage account.

When a transaction is initiated from one Pocket to another, Jiko facilitates an instant on-us transfer by liquidating the sender's T-bills, sweeping the proceeds to the receiver’s Pocket as cash, and investing the funds in T-bills on behalf of the receiver, all in real time.