Deutsche Bank goes live with CSDClear 08 April 2019Frankfurt Reporter: Maddie Saghir
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Deutsche Bank has gone live as the first German bank to offer client clearing through LCH’s CDSClear service.
Asset management firms MEAG and Union Investment are the first clients to connect to CDSClear via Deutsche Bank
Frank Soussan, global head of CDSClear, said: “We’re delighted that Deutsche Bank is the latest clearing broker to join our growing network of firms offering their clients the ability to clear credit derivatives at LCH.”
“The German market is a major hub for credit derivatives, and we are pleased to welcome additional clients from Germany as our customer base continues to expand.”
Nic Maalouf, global head, listed derivatives and clearing, Deutsche Bank, added: “We are committed to the derivatives clearing business and continuously review our offering to evolve and grow in line with the demands of our clients.”
“Offering clients access to LCH CDSClear will provide them with more choice, and we are delighted to have completed this milestone.”
Jan Reher, senior portfolio manager fixed income, MEAG, commented: “Central clearing enables us to benefit from enhanced risk management for our credit derivatives trading business. Connecting to LCH provides us access to a broad range of cleared US and European CDS products and we are pleased to have onboarded via Deutsche Bank.”
Christoph Hock, head of multi-asset trading at Union Investment, added: “Transparency is an important element of risk management, and accessing LCH CDSClear allows us to trade and clear our credit derivatives in a standardised manner.”
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