Celestica Enhances FX Settlement: CGI Partners with ABN AMRO for CLS Solution
- CGI partners with ABN AMRO to enhance FX settlement capabilities using its Continuous Linked System (CLS) Manager solution.
- The partnership allows ABN AMRO to gain control over FX settlements, reducing risks and expanding client services.
- CGI's expertise in CLS solutions supports ABN AMRO's strategic development, reinforcing its role in the financial services sector.
CGI Partners with ABN AMRO to Advance FX Settlement Capabilities
In a significant development within the financial technology sector, CGI has entered into a strategic partnership with ABN AMRO Bank to enhance its Foreign Exchange (FX) settlement capabilities. By implementing CGI's Continuous Linked System (CLS) Manager solution, ABN AMRO transitions from a third-party participant to a full settlement member of the CLS Bank FX Clearing network. This pivotal move allows the bank to gain increased control over its FX settlement processes, significantly reduces associated risks, and expands its service offerings to third-party clients. The collaboration not only streamlines ABN AMRO’s operations but also positions the bank to better serve its clients in an increasingly complex financial environment.
The implementation of the CLS Manager solution marks a critical milestone for ABN AMRO, culminating in the successful completion of its first CLS settlement day on May 21, 2025. Dick van Driel, a representative from ABN AMRO, emphasizes the seamless migration facilitated by CGI and the tailored solutions that have been pivotal in this transition. The CLS Manager is equipped with advanced automation, monitoring, and reconciliation features, which enable ABN AMRO to optimize its CLS business operations. This enhancement is expected to bolster the bank's operational resilience and efficiency, ultimately leading to improved client outcomes.
CGI, with over 25 years of experience in CLS solutions, has played a vital role in developing comprehensive offerings that meet the diverse needs of its clients. The firm’s expertise extends to solutions like CLS Settlement and CLSNet, which offer flexibility for internal multilateral netting and support for SWIFT CBPR+ ISO 20022 messaging. Frank Tezzi, Vice President at CGI, reaffirms the company’s commitment to supporting ABN AMRO in its strategic development within the global financial market, highlighting the collaborative nature of their partnership and its long-term benefits.
In addition to enhancing ABN AMRO’s FX capabilities, this partnership showcases CGI’s broader role in the financial services sector. Established in 1976, CGI employs approximately 94,000 professionals globally, providing a comprehensive range of IT and business consulting services aimed at aiding clients in their digital transformation journeys. This collaboration not only strengthens CGI’s footprint in the financial technology space but also reflects the ongoing evolution of banking operations in response to market demands.
Overall, the partnership between CGI and ABN AMRO signifies a crucial step forward in the advancement of FX settlement processes, underscoring the importance of innovation and collaboration in the ever-changing landscape of financial services.