Transaction switch and a method for use thereof

An aspect of the present invention provides a method of handling a financial transaction in a transaction switch. The method includes receiving a primary transaction request from an initiator, identifying a host from a routing table for receiving the primary transaction request based on details provided in the primary transaction request, transmitting the primary transaction request to the identified host, receiving a response from the identified host, determining a need for transmitting the primary transaction request to another host and interpreting the response received and transmitting a final outcome back to the initiator.