ABN Amro’s Indian CLS coup

MUMBAI – ABN Amro may soon be settling the bulk of all foreign exchange trades in India, following a deal it announced last week with the Clearing Corporation of India (CCIL).

From April, CCIL will use the Dutch bank to settle trades for its 60-plus member banks and brokers on the continuous linked settlement (CLS) service for foreign exchange.

And if the CCIL is successful in its aim to act as the aggregator for all cross-currency trades in India on CLS, the deal could bring ABN Amro a virt

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