CMC Markets receives In-Principle Approval from MAS to launch investment platform
UK-listed CMC Markets Plc (“CMC Markets”), a leading global online financial trading firm, announced that its Singapore subsidiary entity, CMC Markets Singapore Invest Pte. Ltd. (“CMSI”), has received a regulatory in-principle approval from the Monetary Authority of Singapore (“MAS”) for a capital markets services licence (“CMSL”) to offer online and mobile trading of globally listed shares, exchange traded funds, futures, and options.
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Pending final regulatory approval, the CMSL will allow CMSI to offer CMC Invest - a multi-product single platform to clients to trade international and local stocks, ETFs, futures, and options. CMC Invest is expected to soft-launch at the end of 1Q 2023.
CMC Invest will provide clients with zero commission and real-time pricing in selected markets such as Singapore, the US, and Australia. CMC Markets already has similar licenses in the UK and Australia for Invest.
Christopher Forbes, Head of CMC Invest Singapore said: “This announcement is a major milestone and validation for CMC Markets. Our business has been offering CFDs in Singapore since 2007, but the Capital Markets Services Licence for CMSI will allow us to serve our clients with more robust investment products, including shares and ETFs.
We know that Singapore is a sophisticated market when it comes to the financial services industry and we chose to launch CMC Invest here due to its strong corporate governance infrastructure and regulator. This demonstrates our commitment to Singapore and we look forward to bringing a new world-class platform to our clients.”