Robbert Booij, CEO of the European region for ABN AMRO Clearing Bank N.V., told JLN at FIA Boca 2022 that the firm’s lack of proprietary trading and focus on clearing clients’ trading, along with their real time risk management model, allowed them to focus on the tremendous volatility brought on by Russia’s Ukraine invasion and to escape without any direct exposure.

He said the “Ukraine situation is terrible” and that the clearing bank and its employees were supporting those affected  by the war. He said ABN AMRO Clearing had restricted clients’ ability to trade instruments impacted by sanctions related to Russia’s invasion. 

Booij discussed the UK’s CCP consultation and how ABN AMRO was working with the FIA to make sure UK’s CCPs are not cutting off firms’ or end users’ ability to access UK markets. 

He also discussed how ABN AMRO is addressing ESG and said the clearing bank is a strong advocate for clients making sustainable business practices. He also mentioned that the bank had stopped clearing palm oil futures. 

Booij spoke about the impact of Euronext’s acquisitions on ABN AMRO and the importance of opening the bond market through changes to market structure and trading rules.  He also noted that the migration of clearing to the Italian CCP comes at a cost. 

Booij talked about what the year ahead will look like and where ABN AMRO Clearing is active around the world, noting where the clearing bank has operations, including in Brazil.

JLN asked Booij if ABN AMRO has a crypto offering. He said ABN AMRO’s current offerings are limited to clearing just crypto futures and they look for highly regulated markets that are safe for clients.

Lastly, JLN asked him about the impact of the pandemic on the clearing bank moving forward. He stressed the importance of getting back to the office, even in a hybrid environment, to help set organizational culture. He said working in an office can help mitigate operational risk.