United Kingdom-listed CMC Markets Plc, a global online financial trading firm, has on Tuesday announced that its Singapore subsidiary entity, CMC Markets Singapore Invest Pte. Ltd. (CMSI), has received a regulatory in-principle approval from the Monetary Authority of Singapore (MAS) for a capital markets services licence (CMSL) to offer online and mobile trading of globally listed shares, exchange traded funds, futures, and options.

In a statement, CMC Markets said that pending final regulatory approval, the CMSL will allow CMSI to offer CMC Invest – a multi-product single platform to clients to trade international and local stocks, exchange-traded fund (ETFs), futures, and options.

CMC Invest is expected to soft-launch at the end of the first quarter of 2023.

According to the statement, CMC Invest will provide clients with zero commission and real-time pricing in selected markets such as Singapore, the United States, and Australia.

CMC Markets already has similar licenses in the United Kingdom and Australia for Invest.

“This announcement is a major milestone and validation for CMC Markets. Our business has been offering CFDs in Singapore since 2007, but the Capital Markets Services Licence for CMSI will allow us to serve our clients with more robust investment products, including shares and ETFs,” said Christopher Forbes, Head of CMC Invest Singapore.

“We know that 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,

“This demonstrates our commitment to Singapore and we look forward to bringing a new world-class platform to our clients,” he added.

CMC Markets, whose shares are listed on the London Stock Exchange under the ticker CMCX, was established in 1989 and is now one of the world’s leading online financial trading businesses.

The group serves retail and institutional clients through regulated offices and branches in 12 countries, with a significant presence in the UK, Australia, Germany, and Singapore.

CMC Markets offers an online and mobile trading platform, enabling clients to trade up to 10,000 financial instruments across shares, indices, foreign currencies, commodities, and treasuries through contracts for difference (CFDs), financial spread bets (in the United Kindgom and Ireland only) and, in Australia, access stockbroking services.

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