Deutsche Bank China received an Inter-bank Bond Settlement Agent licence from People’s Bank of China, allowing the bank to provide bond trading and settlement services to local corporates and financial institutions across the country. The licence will help to boost the bank’s growing Renminbi business.
With this licence, Deutsche Bank is able to offer onshore settlement services on the OTC market − in addition to on-exchange − to a wider range of clients, including Renminbi trade settlement banks, insurance companies, QFIIs and RQFIIs.
Carl Wegner, greater China head of Global Transaction Banking at Deutsche Bank says: “We are very excited to be one of the three foreign banks to have the Inter-bank Bond Settlement Agent licence in China. Our clients will be able to gain efficiencies from using Deutsche Bank for all their bond services needs. At the same time, this will help us to extend our client base to new segments.”
Beng Hong Lee, head of Markets at Deutsche Bank China, adds: “Inter-bank trading activities represent more than 94% of the bond market in China, so this licence brings great potential to our fixed income trading franchise.”
Deutsche Bank Gets Licence to Offer Onshore Bond Settlement in China
Deutsche Bank China received an Inter-bank Bond Settlement Agent licence from People’s Bank of China, allowing the bank to provide bond trading and settlement services to local corporates and financial institutions across the country.