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Capital and commodity markets regulator the Securities and Exchange Board of India has allowed Deutsche Bank to commence commodity custodial services to support the participation of domestic financial institutions in commodity derivatives market trade.
Deutsche Bank in India is the first and only custodian to have received SEBI approval and will enable institutional investors participants such as mutual funds and alternative investment funds in the commodity derivatives segment.
SEBI has allowed commodity custodial services in gold, crude and natural gas and commodity indices.
SEBI and government want to develop a vibrant commodities market to improve and stabilise price discovery for both agricultural and non-agricultural commodities.
Deutsche Bank’s securities services business, which recently completed 25 years of custodial service presence in India, is one of the largest custodians in the Indian securities market, servicing both domestic and offshore institutional investors.
Sriram Krishnan, Head of Securities Services (India), Deutsche Bank, said the development not only addresses a longstanding demand from institutional investors, but is also in line with SEBI’s objective to open up the commodities market by enabling asset managers to participate in this important sector.
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