ABN AMRO Offers End To End Testing Facilities To CLS Third Parties
ABN AMRO is offering testing facilities to banks wishing to participate in Continuous Linked Settlement (CLS) as Third Parties. CLS is designed to eliminate settlement risk between eligible currencies1, which make up some 85% of the world’s FX transactions. John Gibbons, Head of Global Transaction Services, Financial Institutions & Public Sector at ABN AMRO, said: ‘We believe that the best approach for aspiring Third Parties is to learn by doing. We are now in a position to offer an end to end testing facility, and we have chosen to make that available to the third party market.’ Banks using ABN AMRO’s testing facilities will be under no obligation to use the Settlement Services of the bank once testing is completed.