ABN AMRO Bank Partners with CGI to Enhance Foreign Exchange Settlement Capabilities

ABN AMRO Bank Partners with CGI to Enhance FX Settlement Capabilities

On June 18, 2025, CGI Technologies and Solutions, Inc. announced a significant partnership with ABN AMRO Bank that marks a new chapter in the financial institution's journey towards greater independence and efficiency in foreign exchange (FX) settlements. By adopting CGI's Continuous Linked System (CLS) Manager, ABN AMRO transitions from being a third-party participant to a full settlement member of CLS Bank, a pivotal development aimed at enhancing the bank's operational resilience and service offerings.

Why This Partnership Matters

ABN AMRO's selection of CGI's CLS Manager is a strategic move designed to give the bank complete control over its FX settlement processes. Dick van Driel, the Strategy and Business Development lead for Global Markets Treasury at ABN AMRO, commented on the partnership: "This collaboration has allowed us to reduce risk and expand our third-party service offerings, fundamentally redefining how we operate in the FX market."

The expertise and commitment offered by CGI's team have played a crucial role in this transition, ensuring a seamless migration tailored to meet ABN AMRO's specific business requirements. The CLS Manager equips the bank with comprehensive tools for control, automation, monitoring, and reconciliation, enabling it to grow its CLS business while adequately managing risks.

Milestones in the Transition

The journey to becoming a CLS Settlement Member was marked by a successful trial period, which culminated in ABN AMRO going live in early May 2025. The bank successfully completed its first settlement day on May 21, further validating the efficacy of the new system.

According to Frank Tezzi, Vice President and Trade Payments Lead at CGI, the CLS Manager solution is built upon 25 years of continuous development and is shaped by profound subject matter expertise. Tezzi expressed CGI's commitment to helping ABN AMRO enhance its operational resilience and efficiency:

"Our objective is to elevate the CLS offerings provided to ABN AMRO's clients while ensuring that they experience unmatched outcomes from the services delivered."

The Role of CGI in FX Settlement

CGI has been closely associated with CLS since its inception and has established itself as a market leader in FX settlement solutions. The company’s rich portfolio includes CLS Settlement, CLSNet, CLSNow, Cross Currency Swaps, DTCC, and ClearedFX. The functional flexibility of CGI's CLS Manager allows for the integration of various features, including internal multilateral netting and SWIFT CBPR+ ISO 20022 messaging, customized to meet the specific needs of clients.

Conclusion: A New Era for ABN AMRO

As ABN AMRO embarks on this new era of operational autonomy in the FX market, the collaboration with CGI is expected to significantly bolster its market position and enhance client satisfaction. The ability to independently handle settlements allows ABN AMRO to be more agile and responsive to market demands, vital qualities in the fast-paced financial ecosystem.

CGI, founded in 1976, continues to be a formidable presence in technology and professional services, cementing its role in shaping the future of banking and finance. With a workforce of 94,000 consultants and professionals, CGI offers comprehensive solutions, ensuring that clients can navigate their digital transformations successfully. As this partnership unfolds, it promises to showcase the dynamics of innovation and customer-centric solutions in the financial sector.