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.
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