Moomoo Inc’s affiliate in Singapore has announced it has received approvals-in-principle for all of the SGX memberships including Clearing Member of The Central Depository (Pte) Ltd (“CDP”) and Singapore Exchange Securities Trading Limited (“SGX-ST”), Trading Member of SGX-ST, Trading and Clearing Member of Singapore Exchange Derivatives Trading Limited (“SGX-DT “), and Depository Agent of CDP.
It has also separately received the approval to commence business as an exempt Financial adviser (EFA) in the provision of financial advisory services on investment products, and issuing or promoting of analyses and reports on them as defined by the Financial Advisers Act of Singapore (FAA).
Moomoo entered Singapore in 2021. It is set to become the first full-service digital investment brokerage in Singapore, with approvals-in-principle for all SGX memberships. This will give Moomoo more efficient access to SGX’s range of investment and risk management solutions as well as a wider pool of international investors. At the same time, the memberships will enhance security and efficiency for the execution of SG trades on the moo moo platform, which would especially support the settling of fast, multiple transactions.