Deutsche Bank has become the first bank to the Asia-Pacific Central Securities Depository Group (ACG) as an associate member.
The organisation, made up of 35 CSDs across the region, facilitates the exchange of information and to promote mutual assistance among depositories and clearing institutions.
Members include the Australian Securities Exchange (ASX), the China Central Depository & Clearing (CCDC), the India Clearing Corporation, and the Singapore Exchange (SGX), among others.
Deutsche Bank’s securities services division operates as an onshore custodian across 12 Asia-Pacific markets.
The membership gives the bank the opportunity to work closer with CSD and CCP members on key industry topics including international best practices, cybersecurity, account structures, new technology adoptions, and law and regulatory developments.
“The CSD community is an important source of market development and dynamism, and a pillar of asset and investor protection that operates together with custodians like us,” said Anand Rengarajan, head of securities services, Asia Pacific, Deutsche Bank.
“Our ACG membership is a milestone to Deutsche Bank’s longstanding relationships with CSDs to create value and solve common issues. By closely collaborating with the CSDs on forward-looking topics, we aim to contribute to our markets’ attraction in more ways.”
Boon-Hiong Chan, head of market advocacy, will represent Deutsche Bank on the ACG.