News

Straits Financial granted license from MAS to carry out leveraged foreign exchange trading

Jun 24, 2019

Singapore – June 24, 2019

Straits Financial Services Pte Ltd (“Straits”), a subsidiary of Straits Financial Group, has been granted an expansion to the scope of its Capital Markets Services (“CMS”) License (License No. CMS100407) for leveraged foreign exchange trading under the Securities and Futures Act (Cap. 289) by the Monetary Authority of Singapore (“MAS”).

With the expanded CMS license, Straits plans to roll out a full suite of FX leverage products from 2019. This will add to a comprehensive range of capital market products offered by Straits, including exchange-traded derivatives and over-the-counter (“OTC”) derivatives contracts. Based out of Singapore, Straits will have a fully functioning FX dealing team to provide 24 hours coverage and support.

“We aim to deliver a tailored form of liquidity and customised solutions, ensuring that different users of the forex market, including family offices, e-FX brokers, hedge funds, asset managers and financial institutions, can interact with the market the way they want,” said Mr Raymond Mok, Head of Forex at Straits Financial Services Pte Ltd. “Our platform and infrastructure are supported by an extensive network of Tier 1 banks, non-bank liquidity pools and established technology partners, where users can choose to connect through a Graphic User Interface or API.”

“The provision of foreign exchange solutions is critical in today’s volatile markets. We are thankful and thrilled to achieve this significant milestone as we strive to be the one-stop-shop to meet the varied needs of our customers in the derivatives space,” said Mr. Roger Quek, Managing Director of Straits Financial Services Pte Ltd. “We believe the addition of forex products will be a cornerstone for the group’s growth potential.”

About Straits Financial Group 

Headquartered in Singapore, Straits Financial Group is the brokerage house under CWT Pte. Limited that offers a full spectrum of derivatives & OTC products, including trade facilitation for physical commodities. Established affiliate offices are in Chicago, New Jersey, Shanghai and in Jakarta. Straits Financial is a full Clearing Member of the Chicago Mercantile Exchange (CME), Chicago Board of Trade (CBOT), New York Mercantile Exchange (NYMEX), the Commodity Exchange (COMEX), CME Clearport, Dubai Mercantile Exchange (DME), New Zealand Exchange (NZX), CBOE Futures Exchange (CFE), Nasdaq Futures (NFX) and Asia Pacific Exchange (APEX). It is also the first batch of Overseas Broking Special Participant of the Shanghai International Energy Exchange (INE). Straits Financial offers clearing access to all major global commodity exchanges. For more information, visit www.straitsfinancial.com.


DISCLAIMER: 
This document is issued for information purposes only. This document is not intended, and should not under any circumstances to be construed as an offer or solicitation to buy or sell, nor financial advice or recommendation in relation to any capital market product. All the information contained herein is based on publicly available information and has been obtained from sources that Straits Financial believes to be reliable and correct at the time of publishing this document. Straits Financial will not be liable for any loss or damage of any kind (whether direct, indirect or consequential losses or other economic loss of any kind) suffered due to any omission, error, inaccuracy, incompleteness, or otherwise, any reliance on such information. Trading commodity futures and options products presents a high degree of risk, and losses in excess of your initial investment may occur. Past performance or historical record of futures contracts, derivatives contracts, and commodities is not indicative of the future performance. The information in this document is subject to change without notice.  The impact on market prices due to seasonal or market cycles and current news events may already be reflected in market prices.