Deutsche Bank Launches Outsourcing Solution For Asset Managers, Banks

Josh O'Neill

15 November 2016

has launched a component-based solution offering banks, broker-dealers and asset managers the opportunity to outsource their tax reclamations, corporate actions processing and the safekeeping of assets to the firm's global securities services division.

Financial services firms offering securities services in Europe require modular-based products to help their customers meet regulatory requirements imposed by the European Central Bank's securities settlement engine, TARGET2-Securities, Deutsche Bank said in a statement.

“Asset Servicing Only”, the bank's latest offering, aims to support client migrations to TS2.

The TS2 initiative seeks to harmonise securities settlements across Europe in several migration waves. The next wave, scheduled in February 2017, will migrate securities markets in Germany, Austria and Hungary.

“Efforts to make corporate actions processing more efficient are crucial for our customers,” said Graham Ray, global head of product management and investor services at Deutsche Bank. “As the number and complexity of corporate action events increases, the quality of information is key in reducing risk and costs."