Deutsche Bank Exits Socx Venture
OUTSOURCING
LONDON--Deutsche Bank is pulling out of Socx, the outsourced operations and trade processing venture it set up with foreign exchange (FX) and treasury trading software provider, Wall Street Systems (WSS), in October 2001, leaving Socx without clients.
The two companies are currently negotiating a deal for WSS to acquire Deutsche’s 50 percent stake in the business, giving the vendor full ownership.
Will Meldrum, head of global markets e-strategic investments at Deutsche Bank in London, says the two
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