Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

35858

Broctagon acquires Labuan Money Broking License

RELATED TOPICS​

Multi-asset liquidity provider Broctagon Fintech Group has been granted a Labuan Money Broking License, enabling it to offer regulated bank-grade FX liquidity to clients.

With most large liquidity providers based in the West, Broctagon’s new business in Labuan is strategically positioned to support a growing Asian market. Having been part of the Asian FX ecosystem for close to a decade, the liquidity provider is set to offer its clients a tailor-made experience that directly aligns with their individual objectives.
 
Underpinning this strategic manoeuvre is the liquidity provider’s enlistment of Cecilia Chan, Singapore Exchange’s former VP, as its Executive Director and Head of FX. As one of the few female leaders within the FX sphere, her experience is expected to expand the liquidity arm of the business, Broctagon Prime Markets Limited, across the region.
 
Cecilia Chan, Executive Director of Broctagon Prime Markets, says: “Cultural and physical differences in Asian markets often lead to friction in FX processes. By understanding their needs, we can offer our clients truly bespoke, holistic trading solutions. Our unique understanding of both FX and cryptocurrency also allows us to identify opportunities to support brokers in expanding their businesses into other asset classes.”
 
Broctagon’s new Money Broking Licence is officially approved by the Labuan International Business and Financial Centre (Labuan IBFC) under its statutory body Labuan Financial Services Authority (Labuan FSA). First provisionally approved in October 2020, the liquidity provider has since fine-tuned its many offerings to further support its diverse clientele.
 
Don Guo, CEO of Broctagon Fintech Group, says: “Covid-19 has changed the international trading landscape and we see something stirring in Asian trading. The capital markets in the region are becoming increasingly sophisticated and there is fresh demand for exceptional trading infrastructure to support this evolution, with Labuan playing a growing role as a financial and trading hub.”
 

Latest News

Iress has announced that it has extended its partnership with Dow Jones Newswires to give..
The Financial Conduct Authority (FCA) writes that in new rules, it has set out a..
GAM has announced it has reached a definitive agreement to transfer its Management Company activities..

Related Articles

infrastructure headline
The new Labour government has launched a GBP7.3 billion National Wealth Fund which will target private capital to support the UK’s growth ambitions...
The new Labour government has launched a GBP7.3 billion National Wealth Fund which will target private capital to support the..
Tom McPhail, lang cat
Today’s news of a landslide victory from the UK’s Labour party, finds that the markets had mostly factored in a widely predicted Labour win...
Today’s news of a landslide victory from the UK’s Labour party, finds that the markets had mostly factored in a..
Pensions might not feature at the top of the political parties’ manifesto promises this election, but their role in driving the UK’s growth ambitions is increasingly on investors’ agendas...
Pensions might not feature at the top of the political parties’ manifesto promises this election, but their role in driving..
Duncan Higgs, Bfinance
Bfinance has released its latest report, "Investment Management Fees: Fairness Revisited," with a comprehensive analysis of current trends and challenges in investment management fees and costs across various asset classes...
Bfinance has released its latest report, "Investment Management Fees: Fairness Revisited," with a comprehensive analysis of current trends and challenges..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by