MAS CMS License holders for leveraged foreign exchange trading 2013-14
Capital Markets Services License-holders regulated by Monetary Authority of Singapore
|As at 25 January 2013||As at 07 January 2014|
|BLACKROCK (SINGAPORE) LIMITED||BLACKROCK (SINGAPORE) LIMITED|
|CIMB SECURITIES (SINGAPORE) PTE. LTD.||CIMB SECURITIES (SINGAPORE) PTE. LTD.|
|CITIGROUP GLOBAL MARKETS SINGAPORE PTE. LTD.||CITIGROUP GLOBAL MARKETS SINGAPORE PTE. LTD.|
|CITY INDEX ASIA PTE. LTD.||CITY INDEX ASIA PTE. LTD.|
|CMC MARKETS SINGAPORE PTE LTD||CMC MARKETS SINGAPORE PTE LTD|
|CUSTOM HOUSE CURRENCY EXCHANGE (SINGAPORE) PTE. LIMITED||CUSTOM HOUSE CURRENCY EXCHANGE (SINGAPORE) PTE. LIMITED|
|DBS VICKERS SECURITIES (SINGAPORE) PTE LTD|
|FIRST STATE INVESTMENTS (SINGAPORE)|
|GFT GLOBAL MARKETS ASIA PTE LTD||GFT GLOBAL MARKETS ASIA PTE LTD|
|GOLDMAN SACHS (SINGAPORE) PTE.||GOLDMAN SACHS (SINGAPORE) PTE.|
|G.K. GOH FINANCIAL SERVICES (S) PTE. LTD.||G.K. GOH FINANCIAL SERVICES (S) PTE. LTD.|
|IG ASIA PTE LTD||IG ASIA PTE LTD|
|MAYBANK KIM ENG SECURITIES PTE. LTD.||MAYBANK KIM ENG SECURITIES PTE. LTD.|
|MERRILL LYNCH (SINGAPORE) PTE. LTD.||MERRILL LYNCH (SINGAPORE) PTE. LTD.|
|MF GLOBAL SINGAPORE PTE LIMITED (IN CREDITORS' VOLUNTARY LIQUIDATION)||MF GLOBAL SINGAPORE PTE LIMITED (IN CREDITORS' VOLUNTARY LIQUIDATION)|
|MORGAN STANLEY ASIA (SINGAPORE) PTE.||MORGAN STANLEY ASIA (SINGAPORE) PTE.|
|OANDA Asia Pacific Pte. Ltd.||OANDA Asia Pacific Pte. Ltd.|
|OCBC SECURITIES PRIVATE LIMITED||OCBC SECURITIES PRIVATE LIMITED|
|ONG FIRST TRADITION PTE LTD||ONG FIRST TRADITION PTE LTD|
|PHILLIP FUTURES PTE LTD||PHILLIP FUTURES PTE LTD|
|PICTET ASSET MANAGEMENT (SINGAPORE) PTE LTD|
|SAXO CAPITAL MARKETS PTE. LTD.||SAXO CAPITAL MARKETS PTE. LTD.|
|TRAVELEX GLOBAL FINANCIAL SERVICES (SINGAPORE) PTE. LTD.|
|UOB BULLION AND FUTURES LIMITED||UOB BULLION AND FUTURES LIMITED|
|UOB KAY HIAN PRIVATE LIMITED||UOB KAY HIAN PRIVATE LIMITED|
|WUBS FINANCIAL SERVICES (SINGAPORE) PTE. LTD.|
As a simple summary, we see new entrants First State Investments, Pictet Asset Management and WUBS Financial Services while DBS Vickers and Travelex Global exit the stage. Folks who do not recognise the name WUBS may recall its more recognisable brand Western Union.
Facts, leveraged foreign currency trading in Singapore
3rd largest forex centre
According to the preliminary results of the BIS Triennial Central Bank Survey 2013, Singapore is now the 3rd largest foreign exchange trading centre in the world. Singapore advanced from the 4th spot in 2010 to 3rd, displacing Japan.
Securities and Futures Act
The Securities and Futures Act (SFA) covers financial market operators including brokers for leveraged forex trading in Singapore. It ensures the proper functioning of the market. Some reasons why MAS regulation is important.
Messages from the monetary authority
Why should consumers not deal with unregulated persons?
Consumers are strongly encouraged to deal only with persons that are regulated by MAS. MAS’ regulatory regime aims at safeguarding the interests of consumers by ensuring that only competent and professional persons may provide financial services. If a consumer chooses to deal with persons that are not regulated by MAS, he forgoes the protection afforded under laws administered by MAS, particularly if these persons are based overseas.
And this story relates our own encounter with unregulated persons ‘Forex Scam: Fraudulent setup claiming to be regulated broker‘.