Who Needs to Apply
A company will need an LTR or LFTR licence if it wishes to operate a trade repository as defined under Part IIA of the SFA.
When assessing an application for an LTR or LFTR licence, MAS takes into account factors such as:
- Risk management 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 internal controls and systems.
- Business plans and projections.
- Corporate governance, fitness and propriety.
- Compliance with confidentiality requirements.
Who Can Apply
An LTR or LFTR licence is granted only to a corporation.
How to Apply
To apply for a licence, submit the Form 1 - Application for Trade Repository Licence or Foreign Trade Repository Licence
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 where the applicant meets all relevant admission criteria, has a straightforward business model, and the submission is complete and clear. MAS will require a longer time for complex cases, or where the submission is assessed to be incomplete or inaccurate.
Ensure that your application is complete, accurate, and accompanied by the requisite supporting documents.
Validity of the Licence
An LTR or LFTR 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 46H of the SFA.