CWT financial services subsidiary granted capital markets services license

It was previously trading only in commodity derivatives.

A subsidiary of the logistics firm under its financial services arm has been granted the full Capital Markets Services Licence by the Monetary Authority of Singapore (MAS) for trading in futures contracts.

According to a press release by CWT, its unit, Straits Financial Services was previously only 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,” the report noted.

Additionaly, SFSPL will also be able to expand its customer base beyond the “Accredited Investors” and “Corporate Expert Investors” category.