CMC Markets Singapore Invest (CMSI), a subsidiary of UK-listed global online financial trading firm CMC Markets, has received approval from the Monetary Authority of Singapore for a capital markets services licence (CMSL) to offer online and mobile trading of globally listed shares, exchange traded funds (ETFs), futures and options.
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, which is expected to soft-launch at the end of 1Q 2023, will provide clients with zero commission and real-time pricing in selected markets, such as Singapore, the US, and Australia, and already has similar licences in the UK and Australia.
“The CMSL will allow us to serve our clients with more robust investment products,” says Christopher Forbes, head of CMSI. “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.”