Deutsche Bank merges OTC and listed clearing businesses

Deutsche Bank has merged its existing over-the-counter and listed derivatives clearing businesses, creating a new group dedicated to providing listed execution and prime clearing services across all asset classes. The move is in response to demand for integrated OTC and listed clearing solutions across multiple asset classes, the bank says.

The new unit – markets clearing – will be led by New York-based Jon Hitchon, who was most recently co-head of the global prime finance business. Hitchon will