Just a week after obtaining a Type 1 (Securities Trading) license from the Securities and Exchange Commission of Hong Kong, Far East-focused brokerage firm Doo Group has announced that Doo Capital Market SG Pte. Ltd. (“DCM”), an entity under the company’s Doo Financial division, has been officially granted a Capital Market Services (CMS) license (License Number: CMS101428) by the Monetary Authority of Singapore (MAS).
Doo Financial is one of the sub-brands of the Doo Group. The company said the acquisition of this license marks a further expansion of the Doo Group into the Singapore market, allowing DCM to conduct activities regulated under the Securities Act 2001, such as trading capital markets products, financing products and providing custody services. DCM is also licensed under the Financial Advisers Act 2001 to provide financial advisory services, such as advising on investment products and issuing or publishing analyses/reports on investment products.
Doo Capital Market SG Pte. Ltd. is licensed to provide the following services:
- Trading of Capital Market Products
- Product financing
- Provision of Custodial Services
- Consulting on investment products
- Issue or publish Analyses/Reports on Investment Products
Please note that capital market products and investment products are limited exclusively to exchange-traded securities and derivative contracts.
Doo Group operates licensed subsidiaries in various locations including the US, UK, Australia and Hong Kong, as well as offshore entities in Labuan, Seychelles, Mauritius and Vanuatu. The company apparently also has plans to expand the Doo Group into the EU, having recently made some senior hires for its Cyprus office, as previously reported here on FNG.
The Doo Group is controlled by Chinese national Junjie Chen.