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CGI, a global independent technology and professional services firm, has partnered with ABN AMRO Bank to facilitate the latter’s transition to a full CLS (Continuous Linked Settlement) Settlement Member. This move, supported by CGI’s CLS Manager solution, aims to enhance ABN AMRO’s control, automation, monitoring, and reconciliation capabilities in its CLS business, ultimately reducing risk and allowing for growth.
ABN AMRO successfully completed a trial period and officially went live as a CLS Settlement Member at the beginning of May, with their first settlement day occurring on May 21, 2025. The implementation of CLS Manager ensures uninterrupted service for ABN AMRO’s third-party clients.
CGI, a CLS Registered Vendor with extensive experience in FX settlement solutions since CLS’s inception, offers a comprehensive suite of solutions including CLS Settlement, CLSNet, CLSNow, Cross Currency Swaps, DTCC, and ClearedFX. Their CLS Manager is designed for functional flexibility, supporting features such as internal multilateral netting and SWIFT CBPR+ ISO 20022 messaging, adaptable to client-specific needs.
Frank Tezzi, Vice President and Trade & Payments Lead at CGI, emphasized CGI’s commitment to supporting ABN AMRO in improving operational resilience and efficiency, and providing enhanced CLS offerings to their clients. He highlighted that the CLS Manager solution is a result of 25 years of continuous development and deep subject matter expertise, designed to meet the evolving needs of global financial institutions.
About CGI:
Founded in 1976, CGI is one of the largest independent technology and professional services firms globally. With 94,000 consultants and professionals worldwide, CGI provides an end-to-end portfolio of capabilities, ranging from strategic IT and business consulting to systems integration, managed IT and business process services, and intellectual property solutions. The company operates with a local relationship model complemented by a global delivery network. CGI reported a fiscal 2024 revenue of CA$14.68 billion, and its shares are listed on the TSX (Toronto Stock Exchange).
About CLS:
CLS (Continuous Linked Settlement) is a specialized financial market infrastructure group, with its main entity being the New York-based CLS Bank. It is a multi-currency settlement system designed to mitigate settlement risk (also known as Herstatt risk) in foreign exchange transactions. CLS achieves this through a “payment-versus-payment” (PvP) method, ensuring the simultaneous exchange of currency values. This real-time system reduces risks associated with time zone differences and counterparty default by ensuring that both legs of an FX transaction are settled simultaneously.

Video courtesy of IPO-VID In Patrick’s Opinion

Video courtesy of IPO-VID In Patrick’s Opinion