Deutsche's expansion into government bond markets around the globe keeps surprising market observers. This year, Deutsche has added another four countries to its coverage - Malaysia, Singapore, Indonesia and Taiwan - and is now active in 22 markets.
And not only is Deutsche pushing its presence into new markets, it is also deepening its position in existing markets. The decision that a strong presence in the Bund market, or even in the European government market, is not sufficient to be the leading government bond trader has clearly paid off. Deutsche was ranked number one government bond trading house by peer trading desks in Euromoney's bond trading poll this May, well ahead of competitors ABN Amro, Morgan Stanley Dean Witter and JP Morgan. When results were weighted according to the representation of national markets in the Salomon Smith Barney World Government Bond Index, so as to acknowledge strong performance in the larger markets, Deutsche again led the poll convincingly ahead of its closest competitor, Nomura.
Deutsche can point to continuously improving its ranking within the leading government bond trading houses. On top of a tremendous platform in Europe, Deutsche has developed a strong position in the US and, over the last four years, in Japan.