A Canada-based brokerage firm, known for its services in FX, Commodities, and Equities, has announced the enhancement of its Capital Markets Services (CMS) license with Singapore’s Monetary Authority. This expansion now allows the firm to offer a broader array of financial products, including Securities and Product Financing, thereby reinforcing its position as a significant player in the Singapore financial market.
The company emphasizes that this development aligns well with its existing operations, including Custody and Foreign Exchange services, which have been experiencing substantial growth. The expanded license positions the firm competitively, enabling it to cater to evolving market demands in the region.
With the newly granted CMS license, the brokerage will now provide a diverse portfolio of products, which includes:
– Over-the-Counter (OTC), Deliverable & Margin Foreign Exchange
– Investment Solutions encompassing Structured Products and Asset Management Companies (AMCs)
– Physical precious metals alongside hedging solutions
– Securities
– Funds
– Exchange-Traded Derivatives
– Product Financing for US Equities
– Fixed Income options
– Custody services
This expansion builds on the firm’s previous licensing, as it had initially been authorized to operate under a more limited scope as of late 2023. The recent enhancements to its license reflect the firm’s strategic growth aspirations within the burgeoning financial ecosystem of Singapore, where a heightened focus on regulatory compliance and product variety is pivotal for continued success in the competitive landscape.
Overall, this development signifies a promising evolution for the brokerage, offering it the potential to increase its market share and serve its clients with a richer suite of financial products tailored to meet diverse investment needs.