Deutsche Bank has announced that it has recently expanded its global cash concentration GCC capabilities within the region. The new platform, which aims to help global corporations better manage their liquidity needs, complements Deutsche's existing real-time and multi-bank reporting services, including db-direct internet, its online platform that allows users to receive information on accounts held in its other branches and with other correspondent banks.
Although GCC was launched in October 2005, the announcement comes as Deutsche has been mandated by Celanese, an industrial chemical corporation based in Dallas, Texas for use for its Asia-based US Dollar positions.
According to Deutsche, its GCC platform allows clients to consolidate their US dollar and euro positions into target...
¬ Haymarket Media Limited. All rights reserved.