Dodd-Frank Resource Centre

Welcome to the Deutsche Bank Dodd-Frank Resource Center

Deutsche Bank Aktiengesellschaft (“Deutsche Bank” or “we”) is a registered swap dealer with the Commodity Futures Trading Commission (“CFTC”) and a registered security-based swap dealer with the Securities and Exchange Commission (“SEC”). Deutsche Bank’s Legal Entity Identifier (“LEI”) is 7LTWFZYICNSX8D621K86. This LEI covers Deutsche Bank and all its branches, but not any of its affiliates.

This website provides information about Title VII of The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) and contains certain disclosures that Deutsche Bank is required to provide to certain counterparties when entering into swap transactions regulated by the CFTC (“Swaps”) or security-based swap transactions regulated by the SEC (“SBS”, and together with Swaps, the “Transactions”).

Please carefully review all disclosures, material economic terms, and ISDA documentation provided on this website prior to entering into any Swap or SBS with Deutsche Bank.

Note that certain disclosures provided herein may not be relevant to all Transactions you may enter into with Deutsche Bank. For example, certain disclosures may not apply to counterparties, who are non-U.S. persons (as defined by the CFTC and SEC for purposes of Dodd-Frank). Please inquire for more information.

Copies of certain pre-printed forms of ISDA Master Agreements, ISDA Credit Support Documents, Product Definitions, and other documentation (together, the “ISDA Documents”) are available on the website of the International Swaps & Derivatives Association, Inc. (“ISDA”) at: https://www.isda.org/books/library.

The disclosures provided on this website were drafted by ISDA with the input of many market participants and covers a broad range of terms, conditions, product types, and features that may not always be relevant to for all Transactions you enter into with Deutsche Bank.

These ISDA Documents are incorporated by reference into the disclosures provided by Deutsche Bank hereunder and should specifically be reviewed when incorporated by reference into a Transaction or a confirmation in respect of a Transaction (a “Confirmation”). ISDA has provided many product-level disclosures by asset class, and you should consult the specific disclosures for a given asset class in connection with a Transaction that is covered by that asset class.

Please note that use of the ISDA Documents should be undertaken only after securing appropriate legal advice on its provisions and that ISDA makes no warranty, express or implied, concerning the respective instruments’ suitability for use in any particular transaction and bears no responsibility or liability whatsoever, whether in tort or in contract, in respect of any use of these instruments.

ISDA holds copyright on certain ISDA Documents, and these documents may not be reproduced or distributed without ISDA’s written permission, except the ISDA Master Agreements, ISDA Credit Support Documents and standardized general and product specific risk disclosures published by ISDA, which may be reproduced and distributed solely for use in documenting specific commercial transactions.

In addition, please note that Deutsche Bank may provide you with additional disclosure statements for Transactions to supplement or supersede the information provided herein, as well as disclosures in connection with specific Transactions. In no event may any copyright or trademark notice be removed.

Please note that in respect of each Transaction you enter into with Deutsche Bank and all interactions between you and Deutsche Bank in connection with an actual Transaction or proposed Transaction, Deutsche Bank is entering into each Transaction in its capacity as a counterparty and is not undertaking to assess the suitability of any Transaction or Swap or SBS trading strategy for you.

You will make your own independent decision as to whether to enter into the Transaction with Deutsche Bank and whether it is appropriate or proper based on your own judgment and upon advice from such advisers, as you deem necessary. Nothing provided on this website shall amend or supersede the terms of any written or binding oral agreement between the parties, any related documentation or terms of business provided or published by Deutsche Bank.

The disclosures may change without notice to you. If you have other questions, please contact df.protocol@db.com or your Deutsche Bank representative. Please note that this webpage is frequently updated, so please check back for the latest documents and agreements. Some disclosure documents included on this website are password protected, and you will receive an email communication from Deutsche Bank that contains the password. If you have not received this communication or are not able to access such documents, please contact us at df.protocol@db.com.

Show content of Key Deutsche Bank Disclosures, Including External Business Conduct, Daily Mark, and Segregation

Counterparty External Business Conduct Rights Document

Addition to the list of the clearing agencies that accept SBS for clearing, and at which DBAG is authorized or permitted (directly or through a designated clearing member) to clear SBS:

e. LCH Limited

Daily Mark Methodologies and Assumptions Disclosure Statement

Disclosure Statement Regarding Transaction Terms

CFTC Segregation Election Letter

SEC Segregation Election Letter

CFTC Swap Data Reporting Requirements Disclosure

Show content of Key ISDA Disclosure Documents

General Disclosure Statement for Transactions

Commodities Derivatives Disclosure Annex

Credit Derivatives Disclosure Annex

ABS Swaps Disclosure Annex

Equity Derivatives Disclosure

FX Derivatives Disclosure Annex

Interest Rate Derivatives Disclosure Annex

Additional documents can be found at the ISDA bookstore. If you need assistance obtaining access to the materials available on the ISDA website, please reach out to df.protocol@db.com.

Show content of Material Economic Terms

This website contains links to forms of Confirmations and spreadsheets of Material Economic Terms relating to a variety of types of Transactions that we may enter into with counterparties from time to time.

Any Confirmation or other documentation we directly provide to you in respect of an actual or potential Transaction will supersede the information on this website and, to the extent inconsistent, such Confirmation or other documentation will control. In addition, the agreed upon terms of any Transaction that we enter into with you will be set forth in the Confirmation or other agreement that you and we enter into with respect to that Transaction and may differ materially from the terms set forth in the forms and spreadsheets available on or through this website.

By making this website available, we are not indicating that we are willing to enter into any Transaction with any counterparty on any terms.

Certain rights and obligations of the parties during the term of a Transaction are generally contained in master documentation, e.g., ISDA Master Agreement, between Deutsche Bank and the Counterparty. Certain terms relating to the operation of a Transaction are contained in the provisions of most recently dated asset class definitional booklets provided by ISDA (the “ISDA Definitions”), unless otherwise agreed to by the parties.

Please refer to your ISDA Master Agreement and the ISDA Definitions for these rights, obligations, and terms prior to trading. The ISDA Definitions are also contained in the ISDA bookstore, available at: www.isda.org/books.

Any supplements to the ISDA Definitions or other market documents that are distributed by ISDA free of charge are available at: www.isda.org.

The remaining terms of any specific Transaction will be contained in the relevant confirmation of the Transaction between Deutsche Bank and the Counterparty. Confirmations are generally entered into between Deutsche Bank and the Counterparty on a post-trade basis.

To furnish the remaining terms of any specific Transaction (to the extent that they constitute material characteristics) at a reasonably sufficient time prior to entering into such Transaction in accordance with the requirements of Dodd-Frank, we are setting forth below, for each product, the following static and dynamic terms that are found in a Confirmation.

Static terms are the terms, which will remain the same for the products detailed in the attached Material Economic Terms. The dynamic terms are the terms agreed upon between Deutsche Bank and the Counterparty at the time of trading. Please note that these specific dynamic terms will then be set forth in a Confirmation.

The information compiled in the Material Economic Terms Files (the “MET Files”), to the extent applicable to a Transaction, have been assembled by MarkitSERV Ltd., which is the owner of such compilation of data, and has licensed it to Deutsche Bank for distribution to you. Any re-distribution by you of this data, whether or not for a fee, to third parties is strictly prohibited. The MET Files contain Material Economic Terms relating to a variety of types of Transactions that Deutsche Bank may enter into with you from time to time.

The MET Files may include terms and information that are supplementary to the material information required under the External Business Conduct Rules, and accordingly, the inclusion of terms or information in the MET Files should not be construed to mean that each such term or information constitutes material information required under the External Business Conduct Rules.

The MET Files do not contain all material information required to be provided to you under the External Business Conduct Rules and should be read in conjunction with the material characteristics, material risks, material incentives and conflicts of interest, the terms relating to the operation of the Swap or SBS, and the rights and obligations of the parties during the life of the Swap or SBS, provided to you by Deutsche Bank.

Before entering into any Transaction, you should conduct a thorough and independent evaluation of the terms of the Transaction in light of your particular circumstances and the nature and extent of your exposure to, and willingness to incur, risk. You should also consider whether the Transaction is appropriate for you in light of your experience, objectives, financial and operational resources, and other relevant circumstances.

The delivery of these MET Files is for the sole purpose of satisfying Deutsche Bank’s obligation under the External Business Conduct Rules and are subject to the important qualifications described below.

Important Qualifications to the MET Files:

Any oral and/or written material information Deutsche Bank provides to you prior to execution in respect of an actual or potential Transaction shall supersede the MET Files provided herein and, in the event of any inconsistency between such oral and/or written communication and the MET Files, such oral and/or written communication shall govern. Such superseding material information may include communications notifying you that an actual or potential Transaction will have the terms set forth in a specified prior transaction, form confirmation, terms spreadsheet or master confirmation agreement.
The agreed upon terms of any Transaction that Deutsche Bank enters into with you shall be set forth in a confirmation or other agreement that you and Deutsche Bank enter into with respect to such Transaction. Upon execution of a confirmation or other agreement, the terms specified in these MET Files shall be replaced and superseded by such confirmation or agreement. Such confirmation or agreement may differ materially from the MET Files provided herein.
For Transactions not provided for in the MET Files, if you and Deutsche Bank have previously entered into a transaction of the same type, the Transaction will have the terms set forth in the most recent transaction of the same type that you and Deutsche Bank entered into, subject to any oral and/or written communication in respect of the Transaction between you and Deutsche Bank.
If you and Deutsche Bank enter into a Transaction that is cleared through a clearinghouse, clearing agency, or executed through a trading platform that prescribes the terms of the Transaction, the Transaction will have the terms specified by the applicable clearinghouse, clearing agency or trading platform and subject to the rules of the clearinghouse or trading platform, any additional terms that you and Deutsche Bank expressly agree upon in connection with the Transaction.
If you and Deutsche Bank enter into a Transaction for “give-up” to a third party as a prime brokerage arrangement, the terms of the Transaction will be subject to the terms of any agreement with that third party.
By making this document available, Deutsche Bank is not indicating its willingness to enter into any Transaction with any counterparty on any terms. The MET File does not constitute an agreement, offer, a solicitation of an offer, or any advice or recommendation to conclude any transaction or confirmation thereof (whether on the terms shown or otherwise).
In providing the MET File to you, Deutsche Bank does not guarantee its completeness or accuracy, make any representation or warranty with regard to it, or assume responsibility for losses or damages arising out of your use of the MET Files.
In providing the MET Files to you, Deutsche Bank has not advised you as to the appropriateness of any particular use of the MET Files, including in connection with internal financial or accounting determinations or in satisfaction of reporting obligations. You should consult with your auditors and other advisors you deem appropriate as to whether the MET Files may be useful in connection with the preparation of your financial statements, shareholder or investor reporting documentation, or for any other purpose.
In providing the MET Files to you, Deutsche Bank is not acting in the capacity of your fiduciary, financial advisor or agent.
The MET Files are being provided via electronic means and Deutsche Bank shall not be held responsible for any corruption or alteration of the data during transmission to you.