Leonteq receives capital markets licence in Singapore
Leonteq AG (SIX: LEON), the Zurich-based engineering and infrastructure partner for investment solutions, today announced that its wholly-owned subsidiary, Leonteq Securities (Singapore) Pte. Ltd., has been granted a capital markets license by the Monetary Authority of Singapore.
The sales and distribution team in Singapore was established in 2012. The newly granted capital markets license now allows Leonteq Securities (Singapore) Pte. Ltd. to operate as an independent business entity licensed to deal in securities, and to expand its range of products and services under its own name.
In addition to Singapore, Leonteq’s business in the Asia region includes Leonteq Securities (Hong Kong) Limited that was founded in 2010. Sales and distribution of Leonteq’s and its white-labeling-partners’ products in the Asia region contributed approx. 15% to Leonteq’s total operating income in 2013. With Leonteq Securities (Singapore) Pte. Ltd. now being fully operational, it will serve as the company’s hub in Asia, and Leonteq intends to invest further into the local business and staff.
To support the further expected growth, Leonteq Securities (Singapore) Pte. Ltd. will move into new premises on Asia Square Tower 1 in the central business district of Singapore in the course of the year. The business in Singapore currently comprises 15 staff.
Jan Schoch, CEO of Leonteq: ‘’I am delighted that we have been granted a capital markets license in Singapore and can now operate with an own entity in this promising region. We are committed to a long-term investment in this growing market and are optimistic about further developments in the region. We intend to further grow our market share in Asia thanks to our new hub in Singapore.”