ABN Amro signs half CCIL’s members for CLS
ABN Amro won CCIL as a third-party CLS client late last year (FX Week, December 22) and immediately set about convincing CCIL’s member banks and brokers to become fourth-party users of its CLS service.
Last week’s announcement goes against some critics who suggested that CCIL’s members would not necessarily opt for the same settlement member.
It is also the first indication yet that the fourth-party model for CLS is viable, said Joerg Pinkernell, head of financial institution product development
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