More NewsIndian Banks Sign Mandates for ABN Amro Fourth Party CLS Services

Indian Banks Sign Mandates for ABN Amro Fourth Party CLS Services

Mandates for ABN Amro’s fourth party continuous linked settlement (CLS) services have been signed with Indian financial institutions, which represent more than 50 per cent of the Clearing Corporation of India’s (CCIL) member organizations. They are expected to go live with the fourth party services in July. The announcement follows shortly after CCIL awarded a mandate for third party CLS services to ABN Amro. More institutions have already indicated their interest and are expected to sign soon. Sam Zavatti, Financial Institutions and Public Sector at ABN Amro, said: ‘I’m delighted that CCIL’s members have demonstrated the same confidence in ABN Amro that CCIL itself has. As a result of these mandates ABN Amro is now the global market leader for CLS services by number of clients and the dominant provider in Asia.’

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