Deutsche Bank has been appointed by Tradition London Clearing the clearing arm of Compagnie Financire Tradition, one of the worlds largest interdealer brokers in over-the-counter financial and commodity-related products to service their transactions in the Euronext market.
Tradition London Clearing selected Deutsche Bank because of its ability to provide a tailored solution in the Euronext markets, according to its CEO, Patrice Brault.
I am very pleased about this new mandate as it brings us additional market share and visibility in the eurozone and strongly underlines our ability to cater for the demanding needs of a big broker-dealer client, says Satvinder Singh, global head of Trust & Securities Services (TSS), Deutsche Bank. I believe that this cooperation will further strengthen our partnership with Tradition.
Earlier this year, Tradition announced that its OTC derivatives platform Trad-X had exceeded 1,900 orders with a notional value of more than 112 billion in the two months since its launch.
We are delighted Tradition has chosen us for such a broad mandate,” says Michael Aschauer, head of Global Sales and Relationship Management for Direct Securities Services (DSS) at Deutsche Bank. “This agreement represents a further expansion of our footprint in Western Europe and demonstrates our commitment and dedication to Direct Securities Services.
(CG)