ABN AMRO announced that it has been awarded the third party CLS services mandate for the Clearing Corporation of India Limited (CCIL). CCIL has chosen ABN AMRO's Advanced Third Party CLS service, enabling it to go live with all of the organization's members as fourth parties. The mandate, which sees the organization and its 60-plus members adhering to the global FX settlement standard, is a milestone for CLS. CCIL aims to become the cross-currency aggregator for trades in India via CLS. ADP Wilco has announced that its Germany-based outsourcing service bureau for Swift messaging has been upgraded for SwiftNet message processing. All user firms commenced live operations for the new SwiftNet messaging in mid-November. The upgrades were implemented centrally without any break in service and without any requirement for customers to deploy technical resources. The upgrade to SwiftNet enables ADP Wilco to support the latest version of messaging for all message types on the Swift network.
The Bank of New York, a provider of third-party fund-administration services, announced that it has been appointed by Liontrust to provide a retail-fund-outsourcing service for its range of U.K. unit trusts. Collectively, the five funds, which invest in the U.K. Stock Market, amount to approximately £1.2 billion. The Bank of New York will provide Liontrust with a full fund-administration service, including the processing of telephone orders and monthly management accounting, statements, distributions and reconciliation processing.