Deutsche Bank and United Overseas Bank ( UOB ) have implemented an MOU to expand their cash clearing services . Though the German Bank already provides clearing services for UOB 's cross - border payments , this latest acquisition will allow UOB to also use Deutsche Bank as its cash settlement bank for derivatives trading on the currency Exchange .
Deutsche Bank and United Overseas Bank (UOB) have signed an MOU to expand their cash clearing relationship. Though the German lender already provides clearing services for UOB's cross-border payments, this latest move will allow UOB to also use Deutsche Bank as its cash settlement bank for derivatives trades on the Eurex Exchange.