Frontclear and ABN AMRO Clearing team-up to address clearing infrastructure challenges in emerging and frontier markets

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AMSTERDAM, 12 November 2018 – On 12 November, a Memorandum of Understanding was signed by Frontclear, the development finance company, and ABN AMRO Clearing, a leading global clearing firm. This MoU highlights their shared commitment to address clearing and settlement challenges in emerging and frontier markets in Africa, Asia and Latin America.

“ABN AMRO Clearing wants to lead the way to safe and transparent markets, as the need for dependable, stable, accessible markets is greater than ever. We are taking our societal responsibility to the next level by teaming up with Frontclear as a complementary partner." Vicky Sins Global Director Corporate Hedgers

Partnership

ABN AMRO Clearing agreed to provide project and institutional review recommendations as well as knowledge and advisory services on clearing and settlement infrastructure. The clearing firm pledged support to Frontclear research on innovations and developments in clearing and settlement structures and systems, including blockchain.

"This partnership with ABN AMRO Clearing supports our growing footprint on catalyzing stable and inclusive interbank markets in emerging and developing countries. We welcome a leading global clearing and financial services provider like ABN AMRO Clearing as a technical assistance partner. Their involvement holds a massive opportunity for our beneficiaries in target countries to upgrade current clearing and settlement understanding, knowledge and facilities," noted Ingrid Hagen, Vice President Strategic Projects at Frontclear.

Strong network

Frontclear draws from its proven track record supporting interbank transactions and building relationships with stakeholders and beneficiaries in developing and frontier markets. Its network includes key officials in central banks, capital markets authorities, stock exchange and commercial banks in the mentioned jurisdictions.

To-date, Frontclear has trained over 900 obligors and regulators in over 13 countries, developed 11 technical assistance country strategies based on full capital markets analyses, signed 10 official partnerships with local regulatory agencies and market associations, and has issued over USD 240 million in guarantees on transactions with USD 490 million in notional.

Part of a mission

"ABN AMRO Clearing wants to lead the way to safe and transparent markets, as the need for dependable, stable, accessible markets is greater than ever. We are taking our societal responsibility to the next level by teaming up with Frontclear as a complementary partner. We commit to making our staff available to support initiatives that make local interbank markets in emerging and developing countries more transparent and efficient. This will result in enhanced access to financing for local small and midsized companies." said Vicky Sins, Global Director Corporate Hedgers and responsible for the Global Sustainability Program at ABN AMRO Clearing.

The Frontclear and ABN AMRO Clearing partnership will be officially introduced to ABN AMRO’s global network in an official event on 12 November 2018 in Amsterdam.

Full press release is available below.

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