BrazilABN Amro partners with CGI for transition to full CLS settlement member
Dutch banking group ABN Amro has successfully made the transition from a third-party participant to a full settlement member of the international Foreign Exchange (FX) Clearing network operated by CLS. The transition was supported by CGI.
After 16 years operating as a third-party participant on CLS, ABN Amro has now rejoined the FX settlement service as a full CLS Settlement Member, becoming the 74th bank on the system.
ABN Amro was notably one of the founding settlement members in 2002 when CLS first launched, but switched to a third-party provider in 2009 after its then owner, Royal Bank of Scotland, was rescued by the UK government.
By now becoming a full settlement member, ABN Amro said that it will be able to reduce FX settlement risk for its clients and improve its operational efficiency.
Jacco Keijzer, head of global markets at ABN Amro, said: “Mitigating FX settlement risk has always been a priority for ABN Amro. Becoming a settlement member reflects our dedication to creating a more robust and efficient FX ecosystem, while ensuring our FX operations uphold the highest standards of operational efficiency and risk mitigation.”
To support its transition to a full settlement member, ABN Amro implemented a system from CGI and worked with its consultants. The firm’s Continuous Linked System (CLS) Manager solution enables the bank to take full control of its FX settlement processes, providing control, automation, monitoring and reconciliation capabilities.
After a successful trial period with CLS, ABN Amro went live as a CLS Settlement Member at the beginning of May, with their first settlement day successfully completed on May 21, 2025.
“Our partnership with CGI allowed us to transition successfully and ensure uninterrupted service for our third-party clients,” said Dick van Driel, Strategy & Business Development for Global Markets & Treasury at ABN Amro. “The expertise and commitment from CGI’s team ensured a seamless migration with tailored solutions that supported our business requirements.”
As a CLS Registered Vendor and a market leader in FX settlement solutions, CGI brought in-depth experience to this project. CGI has been involved with CLS since its inception, and offers a range of solutions and services for financial institutions.
