Frankfurt am Main, Deutsche Bank AG (XETRA: DBKGn.DE / NYSE: DB) today announced the completion of its acquisition of Dresdner Bank’s Global Agency Securities Lending business from Commerzbank AG (XETRA: CBK GY), pursuant to the agreement entered into by the parties in May 2009.
The Dresdner Agency Securities Lending business has been integrated into Deutsche Bank’s Trust & Securities Services (TSS) business in Global Transaction Banking as part of its local custody franchise and will be overseen by Roger Harrold, Head of Domestic Custody Services. Tim Smollen, the head of the Agency Securities Lending business, will report to Mr. Harrold.
Mr. Harrold commented, We are very pleased to welcome our new colleagues and clients. The completion of this transaction has added one of the largest third-party agency securities lending providers to our custody platform. The addition of this service represents a logical complementary fit to our existing range of services comprising sub-custody, securities clearing, and fund services
About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 78,530 employees in 72 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
Deutsche Bank’s Trust & Securities business, part of Global Transaction Banking, is one of the leading providers of trustee, agent, depositary, registrar, SPV management and related services for a wide range of financial structures and transactions. It is a leading depositary for American and Depositary Receipts, provides fund and hedge fund administration and, through a fully integrated network of specialist offices worldwide, provides domestic custody services in more than 30 securities markets. www.db.com
This release also contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our trading revenues, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 24 March 2009 under the heading Risk Factors Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir .
Algotraders benefit from low latency / Total of more than 1,000 logical network connections
Deutsche Börse: 100 Eurex and Xetra participants, vendors and service providers already use the two Proximity data centers in Frankfurt, benefiting from the low latency and the high bandwidth of the Enhanced Broadcast Solution and Enhanced Transaction Solution interfaces. Another five customers are soon to be connected.
This confirms Deutsche Börse Group’s irrefutable role as leading European exchange in this field and highlights its attractiveness for trading houses that pursue latency-sensitive algorithmic trading strategies said Matthias Kluber, Executive Vice President and Head of Networks and Infrastructure at Deutsche Börse Systems. Since the launch of the first Proximity data center in 2006, we have experienced continuous growth in demand for low-latency locations from our trading participants, despite the deepening economic crisis. For us, this is the result of constantly optimizing not only our own infrastructure but also the range of additional proximity and low latency trading services we offer
For example, Deutsche Börse Group has made it possible to transmit private newsfeeds unencrypted via the Enhanced Transaction Solution interface, thereby saving more time. This communication channel is safeguarded by way of additional technical features such as infrared surveillance systems and armored conduit for cable ducts. Since August 2009, a new 10GBit/s backbone data line has also been in place between London and Frankfurt, setting new standards with its network latency of under five milliseconds.
New Proximity participants can initially test the new services with their algorithms and trading engines under the Proximity Tryout scheme – which features 100 percent realistic conditions in terms of latency and data throughput. Teams and services from Customer Technical Support and ExServes will be available to help. In order to manage its permanent proximity installations securely and cost-effectively in the long term, Deutsche Börse Systems offers fast and reliable management links via its worldwide network.
We will continue to meet the high demands many customers place on our trading infrastructure in terms of latency, performance and implementing technological progress in the future commented Matthias Kluber. And our IT security and availability standards will remain high
The Eurex and Xetra members that use Deutsche Börse Group’s Proximity Services come from all over the world. Eleven different countries are represented, including Germany, the UK, the US, the Czech Republic, Hong Kong and Singapore. The participants include international universal banks, renowned hedge funds and highly specialized algotraders. 21 percent of all Eurex and 18 percent of all Xetra members already use a Proximity data center.
New York, Deutsche Bank’s Alternative Fund Services, part of the bank’s Trust & Securities Services business in its Global Transaction Banking (GTB) division, recently won the Best Administrator for Small and Start up Hedge Funds award from HFM Week.
HFM Week’s US Service Provider Awards are designed to recognize companies that have outperformed their peer group over the course of 2008/2009. The awards are judged both quantitatively and qualitatively producing a final short-list of candidates that have demonstrated financial progress, growth and genuine innovation. Deutsche Bank was one of seven finalists and in HFM Week’s words Deutsche Bank’s Alternative Fund Services has continued to grow, demonstrating a sustained commitment to clients and quality product offering
Winning Best Administrator for Small and Start up Hedge Funds is industry recognition for the high quality service we aim to provide and to our entire team which works diligently to serve the needs of our clients said Chris Nero, Co-Head of Alternative Fund Services.
In addition, the Bank’s Global Prime Finance business, within its Global Markets division, received the Prime Broking Innovation award.
About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 78,530 employees in 72 countries, Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people. www.db.com
Deutsche Bank’s Trust & Securities Services business, part of Global Transaction Banking, is one of the leading providers of trustee, agent, depositary, registrar, SPV management and related services for a wide range of financial structures and transactions. It is a leading depositary for American and Global Depositary Receipts, provides fund and hedge fund administration and, through a fully integrated network of specialist offices worldwide, provides domestic custody services in more than 30 securities markets. The Alternative Fund Services group provides a wide range of administrative and banking services to hedge funds, fund of funds, real estate funds, private equity funds and other alternative investment vehicles. Services include fund and portfolio accounting, net asset value calculations including pricing and valuation support, shareholder/investor services, liquidity lines, fund of funds custody and an investor reporting platform.
This announcement appears as a matter of record only. This announcement has been approved and/or communicated by Deutsche Bank AG London.
Key markets to be linked up gradually/ Coverage of DJ EURO STOXX 50 equities by mid-January 2010
Deutsche Börse has launched the initial phase of its pan-European trading segment “Xetra International Market” (XIM). As of today, Xetra participants can trade European blue chips via XIM and settle the transactions in their domestic market. The first stocks to be available for trading on XIM are the most liquid ones from Belgium, France and the Netherlands. These will be joined in a few weeks by stocks from Finland and Spain, and in mid-January 2010 by the Italian blue chips.
By introducing the individual markets progressively until mid-January 2010, Deutsche Börse is addressing the requirements of the market participants. All processes, systems and interfaces for trading, clearing and settlement can now be checked per domestic market along the entire process chain and integrated gradually.
By the end of the initial phase, a total of 96 equities in the trading currency EUR will have been accepted into the XIM trading segment. These will comprise the stocks from the DJ EURO STOXX 50® index and highly liquid stocks from other indices.
Transactions executed on Xetra International Market will be offset via Eurex Clearing and settled cost-effectively in the respective domestic markets. Clearstream forms the interface between Eurex Clearing and the domestic markets enabling it to use the latter’s settlement liquidity.
Due to top market quality, the competitive price model, and the low set-up costs for participants, XIM will significantly strengthen Deutsche Börse’s competitive position on the European equities trading market. Deutsche Börse Group uses economies of scale for the new trading segment on Xetra and in the clearing house as XIM is set up on the existing infrastructure, generating hardly any additional costs in system operation. Deutsche Börse thus expects XIM to be a very sustainable business model.
Xetra® is a registered trademark of Deutsche Börse AG.
DJ EURO STOXX50® is a registered trademark of STOXX Ltd. Formed in 1998, STOXX Ltd. is a joint venture between Deutsche Börse Group, Dow Jones & Company and SIX Swiss Exchange.