Payment news, September 21

Deutsche Bank announces third-party clearing services on the Singapore Exchange, while Global Payments introduces a China UnionPay card acquiring service on the mainland.

Deutsche Bank implements third-party clearing services in Singapore

Deutsche Bank has implemented third-party clearing services for Cantor Fitzgerald Capital Markets, a global financial services firm, on the Singapore Exchange SGX. According to Deutsche Bank, it is the first bank to implement such services on the SGX for a broker-dealer. Cantor Fitzgerald will be able to minimise its local presence and reduce fixed costs in back-office and technology infrastructure by leveraging the services of Deutsche Bank.

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