Business Daily from THE HINDU group of publications
Thursday, Aug 03, 2006
Business Daily from THE HINDU group of publications Thursday, Aug 03, 2006 |
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Money & Banking
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Foreign Banks Markets - Derivatives Markets Our Bureau
The bank chose India as the first location to launch its exchange based futures business because it is an increasingly relevant market for global investors.
Mumbai , Aug. 2 Deutsche Bank has opened its first exchange based futures business in India through its subsidiary Deutsche Equities India Pvt Ltd which is a member of the National Stock Exchange. According to a press release from the bank, Deutsche Bank Global Exchange Services (GES) commenced operations at the start of July after Deutsche Equities India Pvt Ltd received its licence from the NSE last month. It now provides international clients with direct execution of Indian index products and single stock futures in what is one of the fastest growing derivatives markets in the world.
Mr Peter McLady, Head, Deutsche Bank Global Exchange Services, said international clients are increasingly demanding direct access to individual regional futures markets and in line with Deutsche's long standing local markets business model, GES decided to invest outside of traditional hubs and offer a broader breadth of product for individual markets. According to the Deutsche Bank Head of Global Markets Finance Asia Pacific, Mr Lou Ghirardello, the bank chose India as the first location to launch its exchange based futures business because it is an increasingly relevant market for global investors. "The NSE now offers more single stock futures than any other exchange in the world and we expect that growth in the NSE derivatives contracts will continue at around a rate of 50 per cent year-on-year," he said.
More Stories on : Foreign Banks | Derivatives Markets
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