Deutsche Bank announced on Thursday its signing of a memorandum of understanding agreement with the China Foreign Exchange Trade System designed to further cooperation between the two parties.
The MOU outlines a dual plan to provide a framework of cooperative efforts and for Deutsche to continue developing foreign exchange markets in China.
“This agreement reflects Deutsche Bank’s commitment to Asia and development of the exchange organization’s diverse activities across the region” says Ulrich Becker, Deutsche Bank’s managing director, corporate development. “Deutsche Bank Group looks forward to enhanced cooperation with CFETS,” Becker added.
The MOU signing comes in the wake of a series of Deutsche Bank moves to garner cooperation with industries throughout Asia.
The East Asian region earned EUR 45 million for Deutsche Bank in 2005.