ABN AMRO has reviewed CLSTTLEMENT as a member of the settlement. The bank joins 73 other top banks to become a member of the CLSSettlement.
ABN Amro was part of the first settlement team that was launched in the Clssettlement when the service started in 2002, was subsequently transferred to indirectly participate as a third parties (PVP).
CLSSETTLEMENT is recognized as the global standard for mitigating the FX settlement risk, settlement of USD7 trillion payment instructions daily in 18 of the most negotiable coins.
As the FX market evolves, the demand for safe and effective settlement mechanisms continues to increase, in particular among financial institutions seeking to align with the optimal settlement practices described in principle 35 of the World Code FX.
In addition, ABN Amro will offer third -party access to CLSSettlement for its clients, further proving its commitment to implementing strong FX and business -free settlement management practices to the broader FX ecosystem.
Lisa Danino-Lewis, Development Manager, CLS said:
“We are pleased to welcome ABN AMRO as a member of the CLSTTLEMENT settlement. Transactions, sales and business development.”
Jacco Keijzer, head of world markets, Abn Amro commented:
“The mitigation of the FX settlement risk has always been a priority for ABN Amro. As a long -standing participant in the Clssettlement, we recognize the value it brings to our functions, while supporting the attachment of global optimal practice.