An interbank bond settlement agent license was obtained by Deutsche Bank China from the People's Bank of China. This would allow the bank to expand its bond services coverage to a wider swath of the market and merchants.

Deutsche Bank, with the license, would be allowed to offer onshore settlement services int he over the cunter market, as well as add on to its existing on-exchange servies. The bank would also leverage its global business exposure with the onboard bond market, expanding its renminbi business in the process.

Overall, inter-bank trading had reached 97% of the bond market in China. This figure included repossessions as of last week, as reported by the China Chengxin International Credit Rating. 

Now, the bank would provide a myriad of services such as bond trading and bond settlement services for a larger market. These include renminbi trade settlement banks, QFIIs, RQFIIs and insurance firms.