Deutsche Börse and CCB in ‘preferred partnership’ 31 March 2015Frankfurt Reporter: Stephanie Palmer
Image: Shutterstock
Deutsche Börse Group and China Construction Bank (CCB) have entered in to a strategic partnership to cooperate across the entire value chain in each of their markets.
Financial market infrastructure services provider Deutsche Börse and the Chinese commercial bank signed a ‘preferred partnership’ agreement, and will begin with a joint analysis of the potential for working together around the world.
The agreement is expected to contribute significantly to furthering the internationalisation of the renminbi as a major global currency. It will also broaden the presence of Deutsche Börse in Asia.
Outcomes could include expansion of CCB’s activities within the European Union, including trading and clearing membership in Xetra, Eurex and Eurex Clearing, and the two firms could also collaborate in the post-trade and custody space.
There is likely to be a joint focus on developing the offshore renminbi market in Germany, and in Europe as a whole.
Reto Francioni, CEO of Deutsche Börse, said: “We regard this new strategic partnership agreed today with China Construction Bank as an important extension of our Asian strategy.”
“We are delighted to bring in our Group-wide expertise and capacity to offer top-quality China-related products and services in increasingly globalised markets.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 