22 June 2017
Find out more

Deutsche Bourse to build new clearing business in Singapore

20 February 2014  |  3635 views  |  0 Singapore Building 1

Deutsche Börse has earmarked an additional EUR30 million in spending to spur plans for new growth initiatives over the coming year, including the creation of a central counterparty clearing house in Singapore.

In a statement to analysts, chief executive Reto Francioni said the German exchange was intent on growing its business in new overseas territories, with a particular focus on Asian markets.

Francioni described Singapore as the focal point for the Exchange's activities in Asia, confirming that it is in the process of establishing a new clearing house on the island.

"We expect this to have high strategic development potential," he says. "Our objective is to provide long-term, client-oriented products and a robust infrastructure across the entire Asian time zone form this base and thus to contribute to the systemic stability of the region's capital markets."

Clearing subsidiary Clearstream has also signed a letter of intent with the Singapore Exchange to collaborate on the development of a collateral management platform which can be expanded to other markets in the region.

Earlier this year, Deutsche Börse also announced that it intends to take a five percent stake in a new benchmark index in Taiwan that is under development by derivatives subsidiary Eurex in co-operation with local futures exchange Taifex.

The company is also targeting 20%-40% revenue growth in the next four years, after realising 30% in annual savings due to new efficiency initiatives outlined last year, including the merger of its IT and market data units. It plans to achieve another 30% in 2014, and is on course to hit its stated target of EUR70 million in annual savings by 2016.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Deutsche Bourse acquires stake in fixed income platform Bondcube

Deutsche Bourse acquires stake in fixed income platform Bondcube

12 February 2014  |  5190 views  |  0 comments | 3 tweets | 4 linkedin
Deutsche Bourse IT reshuffle continues as Keller named CIO

Deutsche Bourse IT reshuffle continues as Keller named CIO

29 October 2013  |  5259 views  |  0 comments
Deutsche Börse CTO and Clearstream CIO Baguet quits

Deutsche Börse CTO and Clearstream CIO Baguet quits

11 October 2013  |  9936 views  |  0 comments | 1 tweets
Deutsche Bourse puts market data in the cloud

Deutsche Bourse puts market data in the cloud

30 September 2013  |  9235 views  |  0 comments | 6 tweets | 3 linkedin
Deutsche Börse connects with Liquidnet for block trading service

Deutsche Börse connects with Liquidnet for block trading service

18 July 2013  |  4134 views  |  0 comments
Deutsche Börse joins $20m funding round for cloud firm Zimory

Deutsche Börse joins $20m funding round for cloud firm Zimory

08 July 2013  |  5922 views  |  0 comments | 3 tweets
Deutsche Börse preps cloud computing exchange

Deutsche Börse preps cloud computing exchange

02 July 2013  |  6997 views  |  0 comments | 5 tweets | 2 linkedin
Deutsche Börse creates IT and market data unit

Deutsche Börse creates IT and market data unit

07 May 2013  |  5272 views  |  0 comments | 1 tweets
Deutsche Börse names HP's Hauke Stars CIO

Deutsche Börse names HP's Hauke Stars CIO

18 September 2012  |  7138 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.events.sap.comdownload the report nowvisit vasco.com/news/PSD2-compliant-solutions

Top topics

Most viewed Most shared
Santander's Openbank relaunched as 100% digital bankSantander's Openbank relaunched as 100% di...
15708 views comments | 48 tweets | 61 linkedin
Worldpay pilots app-only mPOS for small retailersWorldpay pilots app-only mPOS for small re...
8158 views comments | 17 tweets | 25 linkedin
Live: EBAday 2017, day twoLive: EBAday 2017, day two
7527 views comments | 4 tweets | 5 linkedin
satelliteBlockchain bank Babb appoints Ripple advis...
7520 views comments | 9 tweets | 1 linkedin
UK banks will need to change one million sort codes under ring-fencing rulesUK banks will need to change one million s...
7210 views comments | 8 tweets | 25 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job