LBMA welcomes Deutsche Bank AG as a Full Member of LBMA.
What were the reasons for you wanting to join LBMA and what do you see as the key benefits of membership?
We are a group of likeminded individuals with a passion for precious metals trading. This is the reason we want to participate in the life of LBMA which works tirelessly to set the highest standards for our industry ensuring transparency, fairness and accountability across the entire life cycle of precious metals. We also look forward to contributing to the discussions around the future of our market including ESG, blockchain, new ways to track responsible sourcing of precious metals as well as electrification of trading. In addition, we appreciate the visibility that the membership gives us.
Tell us about your company’s role in the precious metals market?
We are one of the leading liquidity providers in precious metals, especially in the financial trading arena. Our unique position within Deutsche Bank’s GFX business allows us to leverage its market leading capabilities across electronic markets and derivatives trading.
This is highlighted by our leading position across three largest precious metals markets in the world: Loco London, CME and SGE. Euromoney ranked us #1 by volume across all banks in precious metals and Risk Energy Magazine #2 based on the customer survey.
What’s the background and history of the company?
Deutsche Bank has been involved in precious metals for its entire history stretching over 150 years and might be the only major financial institution that still trades it in its original name. We can trace our history as far back as 1870s when we helped the Bundesbank to sell their silver after the passage of the coinage act.
Closer to the end of 20th century, we pioneered electronic and derivatives trading and remain the market leader in this space to this day. This includes our unique offering on Autobahn where clients can trade all financial products on the same platform, including exotic derivatives, as well as have access to the wider market via our prime brokerage business.
What factors do you expect to impact your business in the short to long term?
What concerns us the most now is the potential end of the big economic cycle. We see a lot of evidence of it: internal and external conflicts, high levels of debt and budget deficits, rising inequality and extreme political views. Unfortunately, we are busy when the world is not in a good place.
What are your future plans for the business?
Although we have one of the leading brands when it comes to financial trading, our current physical and financing capabilities are an area of growth. We’ve been working tirelessly to educate internal stakeholders as well as bring talent from outside to build a sustainable business model for physical trading, leasing and financing. We are focussed on making 2024 a breakthrough year for Deutsche Bank in this arena.
