Requirements for Singapore-incorporated Financial Institutions
The local financial institution must have and maintain a relevant license or registration to act as a broker/dealer or advise on corporate finance transactions under Monetary Authority of Singapore (MAS), or otherwise be engaged in a regulated activity that is deemed suitable by HGX for participation as a member.
Requirements for all other Financial Institutions
The foreign financial institution must carry on business in a jurisdiction the relevant regulator of which has an arrangement with the MAS for information exchange and which exercises functions corresponding to the regulatory function of the MAS. If it is not incorporated in Singapore, the foreign financial institution must appoint and maintain an agent to act as its agent to accept service of process issued out of the courts of Singapore or other dispute resolution tribunal in relation to any dispute, arbitration, or other dispute resolution process commenced pursuant to these Rules.