KAS BANK extends its European network to Asia

Press release 8 January 2008
With effect from February 2008, it will be possible to trade directly on the floor of the Hong Kong stock exchange via KAS BANK’s European clearing and settlement platform.

This facility has been made possible by changes in the local regulations, which now allow KAS BANK to act in Hong Kong as the “clearing member” on behalf of clients. The United States and Dubai are already connected to KAS BANK’s platform, so now it is technically possible to trade and carry out transactions in four time zones simultaneously.

Last year, KAS BANK adequately adapted the introduction of MiFID by opening up its European clearing and settlement platform to alternative stock markets. These stock markets make use of the new MiFID rules to create virtual trading environments. The introduction of MiFID and the adoption of a new European convention will bring about further specialisation and consolidation in the field of commercial investment services. Further cost reductions within Europe can also be expected in the market for cross-border trades. This will benefit not only institutional investors but also traders and brokers.

“The fact that KAS BANK is used to support its foreign customers means that the new European developments will simply create more opportunities for the bank, says Albert Röell, chairman of the Managing Board of KAS BANK. “The lower overall cost of trading will enable parties to realize more strategies on and off-exchange which will lead to higher volumes. This will be advantageous for both the professional investor and KAS BANK.”

Apart from these developments, the year 2007 saw the bank reinforce its position within the UK and Dutch institutional markets by providing services that make it possible to measure responsible investments. KAS BANK’s sustainability monitor allows pension funds, insurance companies and other institutional investors to formulate sustainability policy independently and to ensure proper implementation and monitoring by means of the bank’s system of continuous performance measurement.

The year 2007 was a favourable one for KAS BANK. The growth in customer-driven income was well above the target of 10% for both Institutional Investors and Financial Institutions. Since the transfer of its Private Banking activities in the first half of 2007, KAS BANK has focussed entirely on providing investment services for professional parties. The bank’s low risk profile means that it is hardly troubled at all by turbulence on the financial markets. As expected, costs rose in the second half of 2007 due to investment in customer-driven systems such as those necessary in connection with MiFID. Partly due to some exceptional items, profits for 2007 as a whole will be strongly up compared to 2006. KAS BANK will be publishing its annual figures for 2007 on 21 February.