Deutsche Bank has partnered with Tradition London Clearing to provide the brokerage firm’s institutional clients with custody and settlement services in the Turkish fixed income securities market.
The partnership was formed amid regulatory changes prompted by the current COVID-19 pandemic, affecting liquidity.
Tradition is now live and settling trades with Deutsche Bank in Turkey.
Hakan Ulutas, head of securities services, Turkey, Deutsche Bank Corporate Bank, commented: “The fact that we are managing to onboard new institutional clients to our custody and settlement platform speaks volumes about our operational resilience to ensure business as usual.”
“We welcome Tradition London Clearing as a client to Deutsche Bank Turkey and look forward to building the relationship out globally,” he concluded.
As the interdealer broking arm of Compagnie Financière Tradition, Tradition is a major global interdealer broker in over-the-counter financial and commodity-related products in over 30 countries.
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