DEFINITION of 'Corporate Trade Exchange - CTX'
A monetary transfer system used by corporations and governmental agencies. Corporate trade exchanges are used to pay trading partners via the automated clearing house (ACH) system. The CTX format allows for payment to several parties with a single fund transfer.
BREAKING DOWN 'Corporate Trade Exchange - CTX'
The CTX payment system contains several pieces of information that allow for aggregation of payments. It features an information record of variable length, called an addedum record. This record can contain up to 9,999 addenda records with 800,000 characters apiece. This provides adequate payment remittance information and an invoice number to facilitate tracking.