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 biggest financial institutions, including State Bank of India, Industrial Development Bank of India, ICICI, Bank of Baroda and HDFC Bank, own shares in the venture.

The corporation's vice president, Indirani...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222