Custodian service in Forex (and other markets) basically allows large traders to keep their money in their own bank while being able to trade with brokers who offer this service. Bank to bank settlement is then made between banks on a daily basis and the trader is credited/debited according to his own performance. This of course is pretty convenient for traders who do not trust their broker’s bank or do not want to move large chunks of money for whatever reason.
CHARLOTTE, N.C. — February 2nd, 2011 – Advanced Markets LLC (AM), A Direct Market Access (DMA) FX trading firm, has announced a strategic partnership with Deutsche Bank National Trust Company (DBNTC) to offer an innovative fiduciary global deposit solution to its clients. The product will be offered to AM’s global corporate, institutional and high net worth- qualified individuals that trade foreign exchange on the AM Advance Trader Pro platform.
Geoff Gooch, Chief Financial Officer of AM stated,“This global solution pairs an innovative way to give our clients a safe, interest earning deposit with the breadth and depth of a well-rated and well-respected international organization.” Gooch went on to say, “This further solidifies our relationship with Deutsche Bank as a global provider and enhances what we can deliver to our growing client base.”
Advanced Markets selected DBNTC based on its history of providing exceptional service on its deposit, trust and custodial solutions to leading global banks, investors and brokers. As one of the top trustee and custodial banks globally, Deutsche Bank brings an expert team of highly experienced and knowledgeable professionals to deliver solutions from the simplest to the most complex transactions.
Steve Eason, Director of US Regional Trust Offices for DBNTC, said, “This continues to be the focus of the DBNTC product suite: creating customized solutions for clients that have growing international needs.”
The relationship aligns two organizations with operations in Charlotte, NC; AM’s global headquarters is located in Charlotte, NC and DBNTC maintains its US Regional Trust headquarters in Charlotte, NC.
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ForexTB Set to Launch New Innovative Trading PlatformGo to article >>
Advanced Markets provides individual and institutional FX traders transparent trading access to the global FX market. The firm’s Advanced Trader Pro platform and real time FX pricing from top tier FX interbank dealers enable FX traders a level playing field and total transparency.
About Advanced Markets,LLC
Advanced Markets is a futures commission merchant (FCM), Retail Foreign Exchange Dealer (RFED), registered with the U.S. Commodity Futures Trading Commission and a member of the U.S. National Futures Association. The firm is headquartered in Charlotte, North Carolina.
About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 82,504 employees in 72 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.