ABN AMRO Bank partners with CGI to become a CLS Bank full settlement member

Rhea-AI Summary

CGI announced that ABN AMRO Bank has implemented CGI's CLS Manager solution to become a full settlement member of CLS Bank's FX Clearing network. The partnership enables ABN AMRO to enhance control over FX settlement processes while reducing risk and expanding third-party services. The bank successfully completed its first settlement as a CLS Settlement Member on May 21, 2025, following a trial period. CGI's CLS Manager provides automation, monitoring, and reconciliation capabilities, featuring functional flexibility including internal multilateral netting and SWIFT CBPR+ ISO 20022 messaging. As a CLS Registered Vendor with extensive experience since CLS's inception, CGI offers comprehensive solutions covering CLS Settlement, CLSNet, CLSNow, Cross Currency Swaps, DTCC, and ClearedFX.

Positive

• Partnership enables ABN AMRO to take full control of FX settlement processes
• Successful implementation and completion of first settlement as CLS Settlement Member
• Enhanced automation, monitoring and reconciliation capabilities through CLS Manager
• Expanded third-party service offerings for ABN AMRO's clients

Negative

• None.

Insights

Financial Technology Analyst

CGI strengthens position in FX settlement solutions by helping ABN AMRO become a CLS full settlement member, demonstrating expertise in critical financial infrastructure.

CGI's partnership with ABN AMRO Bank represents a strategic win in the competitive financial technology services market. The implementation of CGI's CLS Manager solution enabled ABN AMRO to transition from being a third-party participant to a full settlement member in the CLS Bank network, which handles over $6 trillion in daily FX settlements globally.

This deployment showcases CGI's specialized expertise in mission-critical financial infrastructure. CLS membership significantly reduces settlement risk for ABN AMRO by enabling simultaneous settlement of both sides of FX transactions, eliminating principal risk. The bank can now expand its third-party service offerings to clients who need CLS settlement capabilities but don't qualify for direct membership.

From a competitive standpoint, CGI's position as a CLS Registered Vendor combined with their 25-year development history in this niche creates substantial barriers to entry for competitors. The successful implementation in May 2025 validates CGI's execution capabilities in complex financial infrastructure projects.

For CGI investors, this represents more than just a single client win. It demonstrates the company's ability to deliver high-value solutions in the financial services vertical, which typically generates higher margins and longer-term contracts than general IT services. The partnership also positions CGI to capture additional business as more financial institutions seek to reduce settlement risk and enhance their FX service offerings in an increasingly volatile global market.

CGI's CLS Manager solution and market expertise help ABN AMRO Bank reduce risk and expand third-party service offerings

NEW YORK, June 18, 2025 /PRNewswire/ -- CGI (NYSE: GIB) (TSX: GIB.A), one of the world's largest independent technology and professional services firms, today announced that the Netherlands' ABN AMRO Bank recently selected CGI's industry-leading Continuous Linked System (CLS) Manager solution to support its transition from a third-party participant to a full settlement member of the international Foreign Exchange (FX) Clearing network operated by CLS Bank.

"This partnership with CGI allowed ABN AMRO to take full control of our FX settlement processes, reducing risk and expanding our third-party service offerings," said Dick van Driel, Strategy & Business Development, Global Markets & Treasury, ABN AMRO Bank. "The expertise and commitment from CGI's team ensured a seamless migration with tailored solutions that supported our business requirements."

CGI's CLS Manager provides ABN AMRO with control, automation, monitoring and reconciliation capabilities, allowing them to grow their CLS business while reducing risk. 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. ABN AMRO's choice of the CLS Manager solution ensured uninterrupted service for the bank's third-party clients.

As a CLS Registered Vendor and a market leader in FX settlement solutions, CGI brought unmatched experience to this project. CGI has been involved with CLS since its inception, offering comprehensive solutions that incorporate CLS Settlement, CLSNet, CLSNow, Cross Currency Swaps, DTCC, and ClearedFX. CGI's CLS Manager is designed for functional flexibility, easily enabling any of the features such as internal multilateral netting and SWIFT CBPR+ ISO 20022 messaging, dependent on each client's specific requirements.

"We are committed to helping ABN AMRO take control of their CLS business, improve operational resilience and efficiency, and provide their clients with enhanced CLS offerings and outcomes," said Frank Tezzi, Vice President and Trade & Payments Lead at CGI. "Our CLS Manager solution, backed by 25 years of continuous development and deep subject matter expertise, is designed to meet the evolving needs of global financial institutions."

About CGI
Founded in 1976, CGI is among the largest independent technology and professional services firms in the world. With 94,000 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Fiscal 2024 reported revenue is CA$14.68 billion and CGI shares are listed on the TSX

(GIB.A) and the NYSE (GIB). Learn more at cgi.com.

Stock Market Symbols
GIB (NYSE)
GIB.A (TSX)
www.cgi.com/newsroom

View original content:https://www.prnewswire.com/news-releases/abn-amro-bank-partners-with-cgi-to-become-a-cls-bank-full-settlement-member-302484240.html

SOURCE CGI Technologies and Solutions, Inc.

FAQ

What is the purpose of CGI's partnership with ABN AMRO Bank?

The partnership enables ABN AMRO to transition from a third-party participant to a full settlement member of CLS Bank's FX Clearing network, improving control over FX settlement processes and expanding services.

When did ABN AMRO complete its first settlement as a CLS Settlement Member?

ABN AMRO completed its first settlement as a CLS Settlement Member on May 21, 2025.

What capabilities does CGI's CLS Manager solution provide to ABN AMRO?

CGI's CLS Manager provides control, automation, monitoring, and reconciliation capabilities, along with features like internal multilateral netting and SWIFT CBPR+ ISO 20022 messaging.

How does the CGI partnership benefit ABN AMRO's clients?

The partnership ensures uninterrupted service for ABN AMRO's third-party clients while enabling the bank to expand its third-party service offerings.

What is CGI's experience with CLS systems?

CGI is a CLS Registered Vendor that has been involved with CLS since its inception, offering comprehensive solutions for CLS Settlement, CLSNet, CLSNow, Cross Currency Swaps, DTCC, and ClearedFX.