Deutsche Bank has been approved as a General Clearing Participant (GCP) member on the Hong Kong Stock Exchange.
The General Clearing Participant approval will allow the Bank to provide third party clearing for equity and debt products to clients who are members of the Hong Kong Stock Exchange.
“This is an important milestone in the expansion of our securities clearing services in Asia, says Nico Torchetti, head of Securities Clearing Asia for Domestic Custody Services, Deutsche Bank. It allows us to provide full third party clearing services to the broker dealer community in Hong Kong and complements our existing products such as settlement agent and account operator. It is also a further demonstration of our commitment to the Hong Kong market.”
L.D.