Deutsche Bank appointed by Euroclear as cash settlement and forex bank in Korea

It involves bond activities for Korea Treasury Bonds and Monetary Stabilization Bonds.

Eurocleaer Bank SA/NV has named Deutsche Bank as its cash settlement and foreign exchange bank with the Korea Securities Depository (KSD).

Deutsche Bank will support Euroclear in its South Korean government bond activity for Korea Treasury Bonds (KTBs) and Monetary Stabilization Bonds (MSBs).

This new appointment builds on Deutsche Bank’s relationship with Euroclear, which spans multiple markets and products across both the corporate and investment bank. 

Deutsche Bank’s Paul Maley, global head of securities services and regional head of corporate bank for the Americas, expressed gratitude for Euroclear’s “strong and ongoing trust in Deutsche Bank.”

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“This new mandate highlights our significant market expertise in Asia, and the crucial role that we play in underpinning the financial flows for global investors,” Maley said.

Deutsche Bank’s South Korea branch manager Hyun-Nam Park also expressed his delight in extending their partnership with Euroclear.

“This new appointment is a milestone for our local business, and we are proud to support the South Korean bond market, which is becoming increasingly important globally,” Park said.