ICAP goes live with Deutsche Bank in Turkey
Deutsche Bank Securities Services has won mandates from multiple broker dealer clients to support their liquidity and settlement needs in the Turkish market. In the latest transaction, the team has announced it has partnered with ICAP Securities, part of interdealer broker of TP ICAP group. Deutsche Bank will support the broking firm's institutional clients with custody and settlement services in the Turkish market for equity and fixed income
TP ICAP group operates globally, with offices in 28 countries serving clients in all the major financial centres and cities. Their global brands include Tullett Prebon and ICAP. Deutsche Bank in Turkey has served Tullett Prebon Securities since 2008. ICAP went live on the platform in August, despite the challenges of split site working, and has settled their first trade with Deutsche Bank in Turkey.
Hakan Ulutas, Head of Securities Services, Turkey at Deutsche Bank Corporate Bank, said: "We will continue to provide innovative solutions for the benefit of our clientele to enable them to continue their business in the local market. We managed to seamlessly on board ICAP onto our custody and settlement platform and are very happy to welcome them as a client to Deutsche Bank Turkey."