Citadel LLC and Deutsche Bank Securities Inc (DBSI), the US broker-dealer of Deutsche Bank AG, today announced that Deutsche Bank’s dbClear platform has cleared on behalf of Citadel LLC one of the first interest rate swaps on CME Group's IRS Platform. These transactions represent a significant step forward in the development and utilization of OTC clearing services post the passing of the Dodd-Frank Bill.
"We believe that it is vital for our capital markets to be open and transparent," said Gerald Beeson, Chief Operating Officer of Citadel. "We are pleased to work together with Deutsche Bank on this initiative to further that objective."
"This is a strategic milestone in the mitigation of counterparty risk for the industry as a whole, and in partnership with Citadel LLC, we are pleased to be a leading innovator in the development of new services under dbClear," said Fredrik Gentzel, Head of Counterparty Portfolio Management and Prime Brokerage for Global Rates and Commodities.
For further information, please call:
Deutsche Bank AG
Press & Media Relations
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 81,929 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.
Deutsche Bank provides current information via several social media platforms. Follow our Tweets, view current videos and photos or subscribe to our news updates using your preferred channel. more