The Singaporean multinational bank DBS has begun trading on London Metal Exchange Which is one of the world’s leading platform for the trading of industrial metals. DBS has become the first bank in Asia to be issued a membership with LME outside of London.
The Group Head of Treasury and Markets of DBS Andrew Ng, said:
“This offers our clients access to the exchange’s world-wide network of warehouses, providing an efficient hedging venue for metal trades done in their preferred market.”
The Group Head of Institutional Banking of DBS, Tan Su Shan, said:
“Metals are an essential enabler to achieve a sustainable future, and as global demand for the commodity continues to grow exponentially, so will expectations on the industry’s sustainability standards.
“DBS is committed to both driving and lending support to initiatives that help our clients transition towards a low carbon future. The LME membership will provide our clients in the metals and mining space with the option to access sustainably-produced metal, such as low carbon aluminium, as well as metals that play a significant role in global decarbonisation and the circular economy, such as materials used to manufacture electric vehicles (EVs) and scrap metals.”
About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.
