Deutsche Bank Uses DLT For Beneficial Ownership Transparency

Deutsche Bank Securities Services has successfully piloted a solution using distributed ledger technology (DLT) to enable further automation of custodial services, according to MarketsMedia. The solution addresses the transparency requirements within many custodial services, such as around the tax processing of asset holdings at an ultimate beneficial owner level, and streamlines complex data and reconciliation processes for both the bank and its clients. The first implementation of the solution 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. After initial implementation in Europe, the solution will subsequently be rolled out to other regions in which Deutsche Bank Securities Services operates.