BGC Brokers appoints Deutsche Bank to settle UK securities trades
BGC Brokers has appointed Deutsche Bank to settle its UK trades in CREST, the Euroclear-owned central securities depository (CSD) for the United Kingdom and Ireland.
BGC has migrated its sterling Certificates of Deposit, money market instruments, gilts and UK equities business to Deutsche Bank.
“We are delighted to see the partnership between BGC and Deutsche Bank continue to evolve,” says John Kersse of BGC Partners Inc. “Our teams have worked closely over the past few months to deliver a solution that enables our UK business to grow in a seamless manner. We look forward to further developing our relationship in the coming months and years.”
Rafael Moral, head of Investor Services at Deutsche Bank, describes the appointment as “a very significant transaction” that “underlines the growing momentum we have with UK broker-dealer clients.”