Migrated – Original Post Date: September 13, 2016
Straits Financial Services Pte Ltd (“SFSPL”), a subsidiary under its financial services arm Straits Financial Group, has been granted the full Capital Markets Services (CMS) License (License No. CMS100407-3) for trading in futures contracts under the Securities and Futures Act (CAP. 289) by the Monetary Authority of Singapore (“MAS”). Prior to this, SFSPL was licensed to conduct regulated activity of trading only in commodity derivatives under a partial CMS License granted by MAS in 2014.
With the restrictions on its CMS License lifted, SFSPL is now able to offer a full and complete suite of financial and commodity derivatives, including centrally-cleared Over-the-Counter (OTC) contracts and contracts-for-differences. In addition, SFSPL will be able to expand its customer base beyond the “Accredited Investors” and “Corporate Expert Investors” category.
“This marks a significant milestone for the Straits Financial Group and is testament to its good regulatory standing, competency and strive in providing a seamless service,” said Mr Loi Pok Yen, Group CEO of CWT Limited. “With fully-licensed entities in the USA and in Singapore, Straits Financial is well poised to serve its clients in both the western and eastern hemisphere.”
Mr Jeremy Ang, Global CEO for the Straits Financial Group adds, “A full CMS license for SFSPL opens up a myriad of opportunities for us. We are thankful and thrilled to be able to take the business into the next level. On this note and with the blessings from MAS, we will be appointing Mr Quek Chin Ing (Roger) as CEO of SFSPL to lead these business initiatives. Roger brings with him a wealth of experience in the derivatives and commodities industry, having previously held management positions at Marex Spectron, China International Capital Corporation and DBS Vickers.”
“I am honoured and humbled on the appointment,” said Mr Roger Quek. “The team has built a brand that is synonymous with trust, innovation and bespoke services. I am confident that SFSPL will be able to break new grounds and penetrate new markets with its strong foundation.”
Together with CWT s capability in logistics management and global warehousing facilities, Straits Financial Group is strategically positioned to provide an integrated one-stop service and deliver a seamless customer experience on both physical and hedging needs.