ABN AMRO Bank partners with CGI to become a CLS Bank full settlement member
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.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
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.
Details
News Market Reaction – GIB
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CGI's CLS Manager solution and market expertise help ABN AMRO Bank reduce risk and expand third-party service offerings
"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
(GIB.A) and the NYSE (GIB). Learn more at cgi.com.
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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.
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