AmFraser Securities, CIMB Securities (Singapore), DMG and Partners Securities, Lim & Tan Securities, Phillip Securities and UOB Kay Hian have subscribed to a compliance solution by SIX Financial Information.
The solution enables the member firms to tag foreign listed instruments accurately and in accordance with new requirements. The Monetary Authority of Singapore released an update to its Notice for Sale of Investment Products (SFA 04-N12) on 1st January 2012. The Notice requires anyone dealing in securities, trading in futures contracts and/or leveraged foreign exchange trading to classify foreign instruments listed on Foreign Exchanges into Excluded Investment Products and Specified Investment Products.
The Securities Association of Singapore (SAS) tailored compliance solution was launched on 1 October and is based on the Valordata Feed (VDF) database the world's first and only fully structured and encoded financial data feed. VDF has a history of providing compliance solutions globally and has helped clients comply with market conventions and regulatory requirements for over 15 years.
Paul Bollhalder, Managing Director of SIX Financial Information Singapore said, "We are proud to have been chosen as the preferred financial information provider by six out of nine SAS member firms. This cooperation enables the brokering community in Singapore to access our comprehensive data services and further strengthens our presence in the Asian market."