now loading...
Wealth Asia Connect Middle East Treasury & Capital Markets Europe ESG Forum TechTalk
Treasury & Capital Markets
Deutsche Bank wins Euroclear mandate in South Korea
Firm to act as cash settlement and foreign exchange bank in support of Korean government bond activity
The Asset 24 Apr 2024

Deutsche Bank has been appointed by Euroclear Bank as cash settlement and foreign exchange bank with the Korea Securities Depository (KSD). The mandate is to support South Korean government bond activity for Korea treasury bonds and monetary stabilization bonds.

This new appointment builds on Deutsche Bank’s relationship with Euroclear, which spans multiple markets and products across corporate and investment banking. The mandate is particularly significant given the potential inclusion of South Korea in the World Government Bond Index, the German bank says.

Deutsche Bank has a 46-year history in South Korea, Asia’s fourth largest economy, and provides a full range of solutions to multinational companies, large local corporates and financial institutions in the country.

Last year, the bank increased its capital allocation for its Seoul branch by €150 million (US$160.66 million) to grow the business and undertake more activity for its clients.

Deutsche Bank’s securities services business has a presence in over 30 markets globally, and the bank is focusing on its core strengths and fundamentals, including client-centric solutions and market differentiation. South Korea is one of the bank’s key markets in Asia, and it sees high potential for growth given recent market changes and increasing client interest.

Paul Maley, global head of securities services and regional head of corporate bank for the Americas, says: “We are grateful for Euroclear’s strong and ongoing trust in Deutsche Bank. This new mandate highlights our significant market expertise in Asia, and the crucial role that we play in underpinning the financial flows for global investors.”

Peter Sneyers, chief executive officer of Euroclear Bank, adds: “As a financial market infrastructure, our role is to support and drive efficiencies to grow the global marketplace. We have been working closely with the Korean capital market and our network with the common objective to provide a solution for international investors to access efficient and safe settlement of local Korean government bonds. This signifies another important step to us achieving our shared goal.”

Conversation
Yeoh Teik Leng
Yeoh Teik Leng
head, debt markets group
AmInvestment Bank
- JOINED THE EVENT -
6th Global Islamic Finance Issuers and Investors Leadership Dialogue
Marking time as new opportunities emerge
View Highlights
Conversation
Gopul Shah
Gopul Shah
director, head of global treasury and trade finance
Golden Agri-Resources
- JOINED THE EVENT -
4th ESG Summit - Webinar series
Rising Expectations
Part 1 - Covid conversation
View Highlights