Types of Membership

     
  Clearing Membership
   
  General Clearing Member (GCM)
 
  • A GCM can clear and settle its own trades, as well those of its customers, including any other GCM, Broker Member or Trade Member
  • A GCM can be a Singapore licensed bank or a non bank
   
  Special Clearing Member (SCM)
 
  • An SCM is not a trading member of SMX, as it cannot execute trades, but only clears and settles trades for Non-Clearing Members (Broker Members and Trade Members)
 
  Non - Clearing Membership
   
  Broker Member (BM)
 
  • A BM has to be a corporation, as defined under the Singapore Companies Act
  • A BM can trade for itself or on behalf of its customers
  • A BM can be a Singapore licensed bank or a non bank
   
  Trade Member (TM)
 
  • Any individual, partnership, or corporation can apply to be a TM
  • A TM is entitled to trade only for itself, and can be a resident of either Singapore or elsewhere

Membership Admission Process

   
  Contact SMX
 
  • The prospective Member contacts SMX Business Development to obtain the membership package, including application forms and acquire relevant regulatory manuals.
   
  Consultation discussions with SMX
 
  • Admission and regulatory requirements are clarified. Necessary information to implement membership is obtained from the SMX Business Development team which provides assistance to the prospective Member.
 
  • The prospective Member selects a membership category and examines system requirements.
 
  • A prospective Member intending to start a futures broking business in Singapore is required to obtain a Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS).
 
  • Applications for SMX membership and the CMS licence may take place concurrently.
   
  Submission of application for membership
   
  Approval in principle (Granted upon preliminary review)
 
  • The applicant finalises infrastructure requirements.
   
  Formal admission of applicant
   
  Applicant commences operations
   
 

Membership Admission Forms

Send Me Newsletters

PRODUCT HIGHLIGHTS SMX GOLD The history of gold can be traced as far back as 2600BC when the ancient Egyptians considered it a divine and indestructible metal.

PRODUCT HIGHLIGHTS SMX CRUDE OIL Hundreds of different types of crudes are traded across the world-161 to be precise, according to the International Crude Oil Market

PRODUCT HIGHLIGHTS SMX ALUMINIUM Hundreds of different types of crudes are traded across the world-161 to be precise, according to the International Crude Oil Market

PRODUCT HIGHLIGHTS SMX ALUMINIUM Launched on 1st January 1999, the Euro was an invisible currency for the first three years, being used only for accounting purposes.

NEWS