SGX lists Deutsche Bank

The lender puts on efforts to reinforce position as leading provider of custody and clearing-related services in the region.

Singapore Exchange (SGX) on Wednesday said it has admitted Deutsche Bank to its securities market as a Bank Clearing Member, said an SGX report.

“The expansion of our securities clearing services in Singapore is another significant step in Deutsche Bank’s strategy to reinforce our position as one of the leading providers of custody and clearing-related services in Asia. This complements the Bank’s existing suite of services and demonstrates our commitment to the region,” said Mr Thibaud de Maintenant, Head of Domestic Custody Services for Deutsche Bank in Asia Pacific.

Meanwhile, Mr Rama Pillai, Senior Vice President and Head of Sales & Distribution at SGX said, “SGX welcomes Deutsche Bank to our securities market. The addition of new SGX members with large international presence strengthens Singapore‘s position as an investment destination and a financial centre. We look forward to Deutsche Bank, a provider of global transaction services including clearing services, to further enhance our reach to new customer segments.”

Deutsche Bank’s admission brings the number of Clearing Members for SGX’s securities market to 27. The securities market also has 26 Trading Members while the derivatives market has 30 Trading Members and 26 Clearing Members, the report from SGX said.