Velocity Trade Pte. Ltd., has been granted its Capital Markets Services Licence in Singapore

Velocity Trade, through its fully owned subsidiary Velocity Trade Pte. Ltd., has been granted its Capital Markets Services Licence in Singapore by the Monetary Authority of Singapore. Regulated services include dealing in OTC and leveraged foreign exchange, and providing custodial services.

Velocity Trade, a global broker-dealer, is pleased to announce that it has been granted a Capital Markets Services License from the Monetary Authority of Singapore, allowing it to provide regulated financial services in the country, marking another significant milestone in its global business expansion.

Brent Morgans (Managing Director) will be spearheading the growth in Singapore and will be supported by recent hires, Nicole Wu (COO and Head of Compliance), Li Min Lee (Sales) and Deepika Saluja (Sales). In addition, Kathrene Munoz will be relocating to the Singapore office in Q1 2024 and will retain her role as Group MLRO. Mr Morgans said, “We are excited to grow the business in Singapore and expand Velocity Trade’s products and expertise in foreign exchange, alongside further development of the global network of custodial services currently provided to clients in the region.”

“This is an important strategic step in Velocity Trade’s global development’’, said Spencer Davey, APAC Managing Director of Velocity Trade. “Singapore gives us an excellent platform for expansion throughout the Asia Pacific region.’’ Greg Morgan, Founder, Partner and Director, Velocity Trade Group, added, “Our new footprint in Asia, and partnership with Wedbush Financial Services, places Velocity Trade Group in an excellent position to provide a full suite of execution and custody services to our clients globally.”