Commerzbank AG and HSBC Transaction Services are entering into a strategic partnership for securities settlement. Under this partnership, Commerzbank’s securities settlement business processes will be transferred. For this purpose, a joint venture shall be set up in which Commerzbank shall have a 20% minority stake. The partnership will be in place for an initial period of 10 years, and the new company is due to begin operations in early 2020. By then, both partners will have put in place the technical framework for the data migration.
