ABN AMRO says that Natexis Banques Populaires has gone live as its first CLS third party participant in France. It follows news that Indover Bank had gone live as the first CLS third party participant in the Netherlands.
Natexis went live after completing extensive testing and controlled live processing, and the bank is now processing around 420 trades via CLS Bank per day. It expects this to increase to approximately 550 trades per day.
“It is great to be able to report yet another ‘first,'” says John Gibbons, Managing Director, Cash Flow Advisory at ABN AMRO. “I’m delighted to have helped Natexis to capitalise on its forward thinking approach to CLS by enabling it to become the first bank in France to go live for third party services. Our CLS capabilities continue to go from strength to strength.”
With 60 third and fourth party CLS clients, ABN AMRO now claims to be the market leader for CLS services by number of clients.
Jol le Dentu, Deputy Head of Interbank Relationships & CLS project co-ordinator at Natexis Banques Populaires, says he is pleased with quality of the implementation process. “ABN AMRO was awarded the mandate for its flexibility, willingness to tailor the service to our specific needs and its partnership approach, all of which were demonstrated in the successful delivery of this programme,” he says.