Natexis Banques Populaires has gone live with ABN Amro's third party continuous linked settlement (CLS) service - making it the first third party participant in France.
The bank is now processing about 420 FX trades via CLS Bank per day and expects this to increase to approximately 550 trades.
Joël le Dentu, deputy head of interbank relationships & CLS project co-ordinator at the bank, says: "ABN AMRO was awarded the mandate for its flexibility, willingness to tailor the service to our specific needs and its partnership approach."
In addition, ABN Amro says Indover Bank recently became the first CLS third party participant in the Netherlands after going live with its service.