The Securities and Exchange Board of India (SEBI) has granted approval to Deutsche Bank to commence Commodity Custody services to support domestic financial institutions that are looking to trade commodity derivatives. Deutsche Bank in India is the first and only custodian to have received SEBI approval and is all set to lead efforts to enable participation of institutional investors, such as mutual funds and alternative investment funds in the commodity derivatives segment.
To begin with, the SEBI approval permits commodity custody services in Gold, Crude & Natural Gas and Commodity Indices. More broadly, the local government and regulators in India have been focused on developing a vibrant commodities market to improve and stabilize price discovery for both agricultural and non-agricultural commodities.
Deutsche Bank’s Securities Services business, which recently completed 25 years of custody service presence in India, is one of the largest custodians in the Indian securities market, servicing both domestic and off-shore institutional investors. It has fittingly taken the lead in development of the commodities as an investment avenue for the asset management industry in India.
Sriram Krishnan, Head of Securities Services – India at Deutsche Bank, said: “We are delighted to be able to provide commodity custody services to domestic financial institutions, who are now be able to add commodities as an asset class to their investment proposition. This development not only addresses a long-standing demand from institutional investors, but it is also in line with SEBI’s objective to open up the commodities market by enabling asset managers to participate in this important sector, for a start.”
For further information, please contact:
Deutsche Bank AG
Phone: +852 2203 7846
About Deutsche Bank
Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.
This press release has been approved and/or communicated by Deutsche Bank AG or by its subsidiaries and/or affiliates (“DB”). Deutsche Bank AG is authorized under German Banking Law (competent authority: BaFin - Federal Financial Supervisory Authority) and by the Prudential Regulation Authority and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority.
Details about the extent of our authorization and regulation by the Prudential Regulation Authority, and regulation by the Financial Conduct Authority are available from us on request. Securities and investment banking activities in the United States are performed by Deutsche Bank Securities Inc., member NYSE, NASD and SIPC, and its broker-dealer affiliates.
Lending and other commercial banking activities in the United States are performed by Deutsche Bank AG, and its banking affiliates. Copyright (C) 2019 Deutsche Bank Aktiengesellschaft (Incorporated in the Federal Republic of Germany & members’ liability is limited).