ABN AMRO has rejoined CLSSettlement as a direct settlement member, effective 5 May 2025. The Dutch bank was part of the original group of institutions that went live with the foreign exchange settlement platform in 2002 but moved to third-party participation in 2009. Its return brings the total number of settlement members to 74.
The move signals a renewed focus by ABN AMRO on managing FX settlement risk more directly, claims the bank in a press release. CLSSettlement operates on a payment-versus-payment (PvP) basis and is widely used by major financial institutions to mitigate the risk that arises when currency payments are not exchanged simultaneously. The platform processes over USD 7 trillion daily across 18 currencies.
The decision to switch from indirect to direct participation gives ABN AMRO more control over its settlement processes. It also allows the bank to offer third-party access to CLSSettlement to its own clients.
Top priority
ABN AMRO’s head of global markets, Jacco Keijzer, emphasised that mitigating FX settlement risk remains a top priority for the bank, adding that the return to full membership reflects a commitment to best practices and operational robustness.
