Deutsche Bank has received Approval-in-Principle to become a bank clearing member of the Central Deposit – reported The Asian Banker. Reportedly, the Approval-in-Principle will allow the bank to offer third party clearing services for the Singapore Exchange and thereby expand its existing suite of custody and related products in Singapore.
Together with the bank’s approval as a general clearing participant on the Hong Kong Stock Exchange earlier this year, this enables the bank to provide third party clearing for equity and debt products to clients who are members of the Singapore and/or Hong Kong Stock Exchange, further enhancing its service offering to the broker dealer community in key markets in Asia.
Nico Torchetti, head of Securities Clearing in Asia for Deutsche Bank’s Domestic Custody Services, said: “This is another important step towards our goal of becoming the leading provider of custody and clearing related services to the broker dealer community in Asia. It reinforces our commitment to the Singapore market and the region.”
