Deutsche Bank deploys DLT for custodial services

25 September 2019

Following a successful pilot, Deutsche Bank Securities Services is set to start using distributed ledger technology (DLT) in custodial services.

The bank has been piloting a DLT-based system designed to address the transparency requirements within many custodial services, such as around the tax processing of asset holdings at an ultimate beneficial owner level.

Currently, says Deutsche, this level of information is not generally disclosed to, or captured by, subcustodians, with data provided in spreadsheets as and when needed and across multiple levels of disclosure. This leads to the manual collation of data and reconciliation challenges for the counterparts in the value chain. 

Using DLT, the bank can share the same information to authorised counterparts, removing duplication and, at the same time, permit access to the beneficiary details to the relevant party only.

The first proper implementation of the system will help reform the shareholder information disclosure in Europe for global and sub-custodians, as set out in the Shareholder Rights Directive II, followed by tax processing automation and further product build-out. 

“We are very excited about the opportunities that this solution, and the underlying technology, can bring for our future service model. We continue to remain focused on delivering products that increase efficiencies in the value chain, providing relevant and tangible benefits for our clients,” says Jeslyn Tan, global head, product management, Securities Services.

Original link: https://www.finextra.com/newsarticle/34477/deutsche-bank-deploys-dlt-for-custodial-services

德意志银行将在托管服务中部署DLT

2019年9月25日

德意志银行证券服务部（Deutsche Bank Securities Services）将在试行成功后开始在托管服务中使用分布式账本技术（DLT）。

该行一直在试行一个基于DLT技术的系统，旨在满足诸如最终受益所有人持有资产的税务处理等托管服务中的透明度要求。

德意志银行表示，目前，这一级别的信息一般不会向次级托管机构（sub-custodians）披露或被其获取，而是在需要时以及在多个级别的披露中以电子表格的形式提供。这需要价值链中的对应方手动整理数据，也面临信息核对挑战。

而通过使用DLT，银行可以在避免复制文件的情况下将相同信息共享给授权的对应方。同时，也只允许相关方访问受益人的详细信息。

若新系统实施得当，将有助于按照《股东权利指令》（Shareholder Rights Directive II，SRD II）的规定，对全球和次级托管机构在欧洲的股东信息披露进行改革，随之而来的将是税务处理自动化和下一步产品建设。

证券服务部产品管理全球主管Jeslyn Tan表示：“这个解决方案和底层技术（underlying technology）能为我们未来服务模式带来的新机遇是令人兴奋的。我们将继续专注于提供价值链中提高效率的产品，为客户带来切实利益。”

原文链接: https://www.finextra.com/newsarticle/34477/deutsche-bank-deploys-dlt-for-custodial-services

译者：dominique