Deutsche Bank Selected By Euroclear as Cash Settlement and Forex Bank in South Korea
(24 April 2024 - South Korea) Euroclear Bank has announced Deutsche Bank as its cash settlement and foreign exchange bank with the Korea Securities Depository.
The German bank has been tasked with supporting Euroclear in its South Korean Government Bond Activity across Korea Treasury Bonds and Monetary Stabilisation Bonds. The appointment is stood to further build on Deutsche’s relationship with Euroclear, which has a global footprint.
“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,” commented Deutsche Bank’s Global Head of Securities Services, Paul Maley, who also expressed gratitude for Euroclears “strong and ongoing trust in Deutsche Bank”.
“This new appointment is a milestone for our local business, and we are proud to support the South Korean bond market, which is becoming increasingly important globally,” added Deutsche Bank South Korea Branch Manager Hyun-Nam Park.
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