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Deutsche Bank may get to offer custodial services

Deutsche Bank is expected to receive an approval from SEBI to operate as a custodian in the commodities space. This will enable participation from institutional investors, including mutual funds and portfolio management service providers in such segment. SEBI’s board had recently approved a proposal to allow mutual funds and portfolio managers to trade in the commodity derivatives market segment to help broaden the market. Besides, SEBI has also made necessary amendments in the custodian regulations to provide for requisite custodial services. Sources said Deutsche Bank is expected to get a green signal from SEBI by October to provide custodial services and once it happens, there will be participation from institutional investors in the commodities derivatives market. HDFC Bank and Stock Holding Corporation of India are among others who have approached SEBI to provide custodial services.

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