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Screenshot of a breaking news alert e-mail from Q2 2017
Just two days after we reported that global FX and CFDs broker Plus500 Ltd (LON:PLUS) had expanded its operations in South Africa with an upgraded South Africa FSB license for new subsidiary Plus500SA Pty Ltd and plans to open an on-the-ground operation, Plus500 today announced that it is also growing its operation in Singapore.
Plus500 today stated that International Enterprise Singapore (“IE Singapore”) has granted Plus500SG Pte. Ltd (“Plus500SG”) a Commodity Broker’s Licence (“CBL”) in Singapore.
The Commodity Broker’s Licence will supplement the Capital Markets Services Licence granted to Plus500SG by the Monetary Authority of Singapore in December 2017, thus allowing for Plus500SG to offer its customers a more diversified range of financial instruments.
The CBL is effective immediately and is valid for one year.
Asaf Elimelech, Chief Executive of Plus500 said:
The addition of this licence demonstrates the positive momentum we are achieving in growth globally, following the announcement of the new licence granted in South Africa earlier this week.