Which licence types are applicable to an exchange service?
According to MAS (Consultations)
last revised on 22 May 2018
There is currently 1 tier of RMO licence. However, "MAS proposes to expand the current RMO regime from a single tier to three separate tiers that would better match regulatory requirements to the risks posed by different types of market operators, namely:
(a) RMO Tier 1, which is targeted at market operators with limited access to Singapore-based retail investors;
(b) RMO Tier 2, which is targeted at market operators that qualify under the current RMO regime; and
(c) RMO Tier 3, which is targeted at market operators that have a significantly smaller scale of business compared to more established operators under the current AE and RMO regime."