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.

“In today’s environment, broker-dealers are constantly looking for solutions that enable them to reduce costs and increase returns for their clients,” said Thibaud de Maintenant, head of domestic markets for Deutsche Bank’s direct securities services, in a...

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