Who Needs to Apply
A company will need an AE or RMO licence if it wishes to operate an organised market as defined under Part I of the First Schedule to the Securities and Futures Act.
When assessing an application for an AE or RMO licence, MAS takes into account factors such as:
- Market structure and operations in accordance to international standards and best practises.
- Track record, management expertise and financial soundness of the applicant.
- Ability to meet the minimum financial requirements prescribed under the SFA.
- Strength of risk management and accompanying internal controls and systems.
- Business plans and projections.
- Corporate governance, fitness and propriety.
Who Can Apply
An AE or RMO licence is granted only to a corporation.
How to Apply
Paying the Application Fee
A non-refundable application fee of $4,000 is required. Please refer to payment instructions contained within the application form.
It will take approximately 6 months to process and approve an application. As each application will be evaluated on a case-by-case basis, processing time depends on the circumstances of each application and the completeness of the information submitted.
Ensure that your application is complete, correct and accompanied by the requisite supporting documents.
Validity of the Licence
An AE or RMO licence does not need to be renewed.
The licence is valid until:
- The holder applies for cancellation of the licence.
- The licence is revoked by MAS in accordance with section 14 of the SFA.