ABN Amro scores CLS coup

The deals mean US investment bank Bear Stearns, Ireland’s Anglo Irish Bank and German savings bank Deutsche Postbank will all settle their forex trades on the global settlement system exclusively through ABN Amro. CLS -- which went live for 39 of the CLS Group’s 66 shareholder banks on September 9 -- will give the go-ahead for its members to settle third parties’ trades on the system in Q4.

A further nine un-named banks have signed CLS third-party contracts with ABN Amro, eight more are waiting

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