Deutsche Bank granted SEBI approval for commodity custody services
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Deutsche Bank granted SEBI approval for commodity custody services 04 November 2019Mumbai Reporter: Jenna Lomax
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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.
The approval will enable participation of institutional investors, such as mutual funds and alternative investment funds into the commodity derivatives segment.
Deutsche Bank in India is the first and only custodian to have received SEBI approval.
Deutsche Bank’s securities services business recently marked 25 years of custody service presence 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 able to add commodities as an asset class to their investment proposition.”
He added: “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.”
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