SEC Form 20-F - Deutsche Bank Annual Report 2012

Deutsche Bank Additional Notes F-164
Annual Report 2010 on Form 20-F 37 – Related Party Transactions
Xchanging etb GmbH:
With the acquisition of Sal.Oppenheim in March 2010 the Group increased its stake in Xchanging etb GmbH
from 44 % to 49 %. The Group accounts for it under the equity method. Xchanging etb GmbH is the holding
company of Xchanging Transaction Bank GmbH (“XTB”). Two of the five executive directors of Xchanging etb
GmbH and two members of the supervisory board of XTB are employees of the Group. The Group’s arrangements
with Xchanging include a 12-year outsourcing agreement for security settlement services and a 10-year
outsourcing agreement for the provision of security settlement to Sal. Oppenheim. The outsourcing arrangements
are aimed at reducing costs without compromising service quality. In 2010 and 2009, the Group received
services from XTB with volume of € 113 million and € 104 million, respectively. In 2010 and 2009, the Group
provided supply services (e.g., IT and real estate-related services) with volumes of € 20 million and € 29 million,
respectively, to XTB.
Transactions with Pension Plans
Under IFRS, certain post-employment benefit plans are considered related parties. The Group has business
relationships with a number of its pension plans pursuant to which it provides financial services to these plans,
including investment management services. The Group’s pension funds may hold or trade Deutsche Bank
shares or securities. A summary of transactions with related party pension plans follows.
in € m. 2010 2009
Deutsche Bank securities held in plan assets:
Equity shares – –
Bonds 16 –
Other securities 83 26
Total 99 26
Property occupied by/other assets used by Deutsche Bank – –
Derivatives: Market value for which DB (or subsidiary) is a counterparty (2) 177
Derivatives: Notional amount for which DB (or subsidiary) is a counterparty 14,966 11,604
Fees paid from Fund to any Deutsche Bank asset manager(s) 24 21