India in fourth party CLS deal

India''s clearing corporation will offer its members access to the continuous linked settlement platform via ABN AMRO.

The Clearing Corporation of India CCIL has signed a third party CLS deal with ABN AMRO and will use the relationship to link its member banks to the foreign exchange settlement platform. As many as 50% of the group's members have already signed up for the service.

CCIL was set up by leading banks in India to address the need for an integrated clearing and settlement system for debt and forex transactions. Some of the country's...

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