Standard Chartered wins cash mandate from Clearstream
Standard Chartered has been appointed the cash correspondent bank in Hong Kong for Hong Kong dollars and renminbi by Clearstream, the clearing and settlement division of Germany-based Deutsche Börse Group.
“We are delighted to partner with Standard Chartered Bank in Hong Kong,” said Mark Gem, head of business management and member of the executive board at Clearstream. “Standard Chartered has an extensive coverage and an in-depth understanding of the local market that will increase access to liquidity and thus the settlement flexibility on site.”
Clearstream serves 2,500 clients in more than 110 countries globally. Its Asia-Pacific operational...