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Large Medium SmallDeutsche Bank China has received an Inter-bank Bond Settlement Agent license from People's Bank of China, allowing it to provide end-to-end bond services to local companies and financial institutions across the country, the company announced on Tuesday.
Deutsche Bank can now offer onshore settlement services on the OTC market — in addition to on-exchange — to a wider range of clients with this license, including renminbi trade settlement banks, insurance companies, qualified foreign institutional investors and renminbi qualified foreign institutional investors.
The license also helps to boost Deutsche Bank China's fast growing renminbi business.
“Receiving the Inter-bank Bond Settlement Agent license is an important milestone for us, especially as we continue to deepen our reach in this large market,” said Beng Hong Lee, head of markets at Deutsche Bank China.
Lee added that inter-bank trading activities represent more than 94 percent of the bond market in China, so this license brings great potential to their fixed income trading franchise.
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