MAS names sustainability head; Malaysia’s EPF appoints COO and CFO; GIC PE head for SEA leaves; State Super hires new exec; Hesta appoints chief growth officer, chief Debby Blakey appointed to corporate governance board; ex-BlackRock exec joins IQ-EQ in Singapore; HSBC AM builds direct real estate team; ex-Vanguard head of distribution joins LGIM; Sanne names Singapore head; and more
The entity was opened through the bank's subsidiary Deutsche Equities India Private Limited and will be run through its Deustche Bank Global Exchange Services (GES) arm. The latter serves as its global futures and options services business, and is part of its global finance business.
According to Deutsche Bank GES, the Indian operations commenced at the start of July after receiving a licence from the India National Stock Exchange (NSE) in Mumbai in June. It will act to provide international clients with direct execution of Indian index products and single-stock futures.
The decision to choose India as the first place to launch its exchange-based futures business comes as the country is increasingly on radar screens for international investors, Deutsche Bank stresses. It follows a decision by Deutsche Bank GES to invest outside of traditional hubs and boost its product mix for individual markets.
ôThe India NSE now offers more single stock futures than any other exchange in the world and we expect the growth in the NSE derivatives contracts will continue at around a rate of 50% year-on-year," says Lou Ghirardello, Deustche BankÆs head of global markets finance, Asia-Pacific.
ôInternational clients seeking to access this market no longer have to move money between different companies; they can do it all with Deutsche Bank custody services, cash management and futures, with the assurance of DeutscheÆs global expertise and best practice standards.ö
Earlier in 2006, the firm opened a futures trading desk in Singapore, which added to its existing futures trading businesses in the Asia-Pacific region, situated in Sydney and Tokyo. The Singapore desk is headed by Mark Rechner, head of sales GES Asia and CEO of Deutsche Futures Singapore.
According to Deutsche Bank, it will continue to look at opportunities to expand GES capabilities in the region and work closely with individual regulators to identify further prospects.
The announcement by Deustche Bank clearly underscores the importance major banks see in the derivatives market. It comes mere weeks after Goldman Sachs was reported to be in discussions to acquire up to 10% in IndiaÆs National Commodity & Derivatives Exchange (NCDEX).
The AU$85 billion ($61.6 billion) Australian super fund has some exposure to indebted property developer Evergrande. Meanwhile, China’s construction finance is part of its core strategy in real estate.
Investors are seeing the risks, but also the opportunities of the logistics sector. Warehousing their fears for the moment, they can see it's a good conduit to high-growth assets.
Insto roundup: GPIF staff say J-Reits more attractive than traditional assets; Hong Kong's strict Spac criteria
EISS Super hit by another scandal; China's CSRC launches consultation on disclosure requirements for new BSE securities; Hong Kong issues consultation paper on Spacs; New World Development partners with China Taiping to focus on Greater Bay Area projects; GPIF employees say Japanese Reits have grown more attractive; Taiwan's BLF invites bid for $1.7 billion mandate; and more
SGX’s new framework for Spacs will likely provide investors with a much-needed channel for direct deals, but the verdict is still out on whether it will bring liquidity to the bourse.