Deutsche Bank expands futures execution and clearing capability

Mumbai, August 2 (UNI) Deutsche Bank today announced that it has expanded its futures execution and clearing capability in Asia Pacific with the opening of its first exchange-based future business in India through its subsidiary, Deutsche Equities India Pvt Ltd, in a press release issued here. The bank had also got its name listed at the National Stock Exchange (NSE) last month.

The bank's head of global exchange services, Peter McLady, said that since international clients are increasingly demanding direct access to individual regional futures market and in line with the bank's long standing local markets business model, the bank decided to invest outside of traditional hubs and offer a broader breadth of products for global investors. The NSE now offers more single stock futures than any other exchange in the world and we expect that growth in the NSE derivatives contracts will continue at a rate of 50 per cent per year, he added.

The CEO of Deutsche bank, Gunit Chadha, stressed that the developmemt is further evidence of the fact that India was an increasingly important financial centre and one in which the bank would continue to invest in order to meet the needs of its clients.

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