SBI Securities announced this Wednesday that it has secured a Capital Markets licence from the Monetary Authority of Singapore (MAS) under the Securities and Futures Act in Singapore for its subsidiary in the city-state, SBI Securities (Singapore) Pte. Ltd.

The licence, which was effective from the 1st of October 2019, was sought out by the subsidiary in order to strengthen the wholesale business of SBI Securities, which is the online securities subsidiary of SBI Holdings, and expand its customer base overseas, the statement released today said.

Taking a look at the website of the MAS, through the new license, SBI Securities (Singapore) can now offer services such as dealing in Capital Markets Products, with a focus on securities, as well as providing custodial services. The company can also advise and issue reports on investment products.

The Capital Markets license from the MAS covers securities, over-the-counter (OTC) derivatives, exchange-traded derivatives, and spot FX for the purposes of leveraged Forex trading and units in a collective investment scheme (CIS).

SBI Securities (Singapore) to commence operations

SBI Securities (Singapore) is the second overseas subsidiary for the company, alongside its Hong Kong operations. By securing the license, the Singapore business will start its operations, the statement said.

In particular, the company said (translated): “We will continue to expand into the primary and secondary markets with a view to expanding overseas bases in Europe and North America. We will strive to further expand our business base as a comprehensive securities.”

The online securities firm offers to trade in a range of products, including domestic stocks, foreign stocks, futures and options trading, foreign exchange (forex), and domestic and foreign bonds.

Today's announcement follows on from a record-breaking year for the company. As Finance Magnates reported, SBI Securities achieved historical highs in ‘operating revenue,’ ‘net operating revenue,’ ‘operating income,’ ‘ordinary income’ and ‘profit attributable to owners of the Company' for its fiscal year ended March 31, 2019 (April 1, 2018, to March 31, 2019).

SBI Securities announced this Wednesday that it has secured a Capital Markets licence from the Monetary Authority of Singapore (MAS) under the Securities and Futures Act in Singapore for its subsidiary in the city-state, SBI Securities (Singapore) Pte. Ltd.

The licence, which was effective from the 1st of October 2019, was sought out by the subsidiary in order to strengthen the wholesale business of SBI Securities, which is the online securities subsidiary of SBI Holdings, and expand its customer base overseas, the statement released today said.

Taking a look at the website of the MAS, through the new license, SBI Securities (Singapore) can now offer services such as dealing in Capital Markets Products, with a focus on securities, as well as providing custodial services. The company can also advise and issue reports on investment products.

The Capital Markets license from the MAS covers securities, over-the-counter (OTC) derivatives, exchange-traded derivatives, and spot FX for the purposes of leveraged Forex trading and units in a collective investment scheme (CIS).

SBI Securities (Singapore) to commence operations

SBI Securities (Singapore) is the second overseas subsidiary for the company, alongside its Hong Kong operations. By securing the license, the Singapore business will start its operations, the statement said.

In particular, the company said (translated): “We will continue to expand into the primary and secondary markets with a view to expanding overseas bases in Europe and North America. We will strive to further expand our business base as a comprehensive securities.”

The online securities firm offers to trade in a range of products, including domestic stocks, foreign stocks, futures and options trading, foreign exchange (forex), and domestic and foreign bonds.

Today's announcement follows on from a record-breaking year for the company. As Finance Magnates reported, SBI Securities achieved historical highs in ‘operating revenue,’ ‘net operating revenue,’ ‘operating income,’ ‘ordinary income’ and ‘profit attributable to owners of the Company' for its fiscal year ended March 31, 2019 (April 1, 2018, to March 31, 2019).