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UPDATE 1-Deutsche Boerse mulls Asia derivatives clearing-sources
September 12, 2013 / 2:58 PM / 4 years ago

UPDATE 1-Deutsche Boerse mulls Asia derivatives clearing-sources

* Deutsche Boerse explores clearing in Asia -sources

* Plans for Asia clearing house at an early stage -source

* Boerse seeks to diversify business -source (Adds source on rationale for potential deal)

FRANKFURT, Sept 12 (Reuters) - Exchange operator Deutsche Boerse is exploring plans to create a derivatives clearing house in Asia as a way to expand its post-trade processing services in emerging markets, two sources familiar with the matter said on Thursday.

Deutsche Boerse declined to comment.

The move forms part of a strategic push by the Frankfurt-based company to diversify its business beyond Europe. In February, Deutsche Boerse Chief Executive Reto Francioni said the group would focus on growth in Asia and Latin America.

Deutsche Boerse may partner with a local player in Asia, one of the sources familiar with Deutsche Boerse’s thinking said.

The company’s plans are at an early stage and formal steps to strike a deal have not yet been taken, a second source told Reuters.

Subdued trading activity on European markets forced Deutsche Boerse last year to abandon its full-year profit targets. Tighter regulation for banks and plans to introduce a tax on financial transactions may further dampen trading in Europe.

Earlier this week, Deutsche Boerse and the Singapore exchange SGX struck a deal on custody and settlement through its unit Clearstream, to help banks and investors manage their collateral.

Last year Deutsche Boerse was cleared to offer cross-border collateral management and liquidity services in Hong Kong by the local banking regulator. (Reporting by Edward Taylor and Andreas Kroener in Frankfurt and Rachel Armstrong in Singapore; Editing by Elaine Hardcastle)

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