DBS Gains Category 4 Membership from the London Metal Exchange
Southeast Asia's Largest Bank DBS recently announced that it has commenced trading as a Category 4 member on the London Metal Exchange (LME), becoming the first bank in Asia to be issued a membership with LME outside of London.
With the new membership, DBS’ corporate clients in Singapore, China, India, Indonesia, Korea and Hong Kong will have access to a comprehensive suite of hedging and financial solutions to support the diverse needs of metal businesses. Moreover, DBS’ corporate clients will be able to price and hedge metals trades effectively, as well as facilitate physical delivery of the commodity. In addition, the membership will complement DBS’ existing Commodity Structured Trade Finance capabilities, which include complex tolling, inventory and pre-shipment finance.
Andrew Ng, Group Head of Treasury and Markets at DBS, said, “With Asia leading the world’s global growth, the LME membership is a critical and necessary step for us to enhance support to our corporate clients, enabling them to access an international, robust and regulated metals market, through DBS. This offers our clients access to the exchange’s world-wide network of warehouses, providing an efficient hedging venue for metal trades done in their preferred market.”
Earlier this month, DBS rolled out DBS Digital Bond with a six-month mentor and coupon rate of 0.60% per annum. The bank is planning to broaden the suite of products on the DBS Digital Exchange (DDEx). DBS has priced an SGD 15 million digital bond as part of DDEx's first Security Token Offering (STO).
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