Deutsche Bank has closed its US swaps clearing business with immediate effect, as the bank responds to regulatory requirements that would have forced it to post more capital than it was willing to support the business with. The closure of Deutsche Bank’s US over the counter clearing business has been effected immediately. The shut-down of the division forms part of the implementation of its Strategy 2020 review. Deutsche’s European clearing business is unaffected by the decision and will to continue to operate as normal. ...
Deutsche Bank has closed its US-based swaps clearing business as part of larger changes in its investment bank structure. The company is seeking to simplify operations, save on costs and increase profitability. Deutsche Bank has fallen to 13th place among clearing banks, according to the US Commodity Futures Trading Commission. Deutsche Bank will continue clearing exchange-traded derivatives, including futures, in the US.