ABN AMRO has been awarded a third party Continuous Linked Settlement (CLS) services mandate by the Clearing Corporation of India Limited (CCIL). CCIL has chosen ABN AMRO’s Advanced Third Party CLS service, enabling it to go live with all of the organisation’s sixty-plus members as Fourth Parties. CCIL aims to become the cross-currency aggregator for trades in India via CLS. Indirani Rao, Vice President, Clearing Corporation of India, said: ‘CCIL aims to become the one-stop shop for settlement of FX and debt market transactions in India. Our experience of working with ABN AMRO in areas such as USD clearing gave us the confidence to further our relationship by awarding the CLS Third Party Services contract.’
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