London-listed global online financial trading firm CMC Markets today announced that its subsidiary CMC Markets Singapore Invest (CMSI) has secured an approval from the Monetary Authority of Singapore for a capital markets services licence (CMSL).
CMSI is now able to offer online and mobile trading of globally listed shares, exchange traded funds (ETFs), futures and options in Singapore.
With the new license, CMSI will offer its multi-product single platform, CMC Invest, to clients to trade international and local stocks, ETFs, futures and options.
According to the official announcement, the launch is expected for the end of the first quarter of 2023. CMC Invest will offer zero commission and real-time pricing in selected markets, including Singapore, the US, and Australia. The company has already recived similar licences in the UK and Australia.
Christopher Forbes, head of CMSI, said:
The CMSL will allow us to serve our clients with more robust investment products. 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.
CMC Invest launched in the UK earlier in October last year. Two months later, the stock trading platform announced flexible stocks and shares ISAs.
