Singapore, 21 March 2011 — CWT Limited (“CWT” or the “Group”), a leading provider of integrated logistics solutions, today announced that its subsidiary, Straits Financial LLC has been granted its Futures Commission Merchant (FCM) registration and membership approval by the National Futures Association (NFA). Straits has also been granted full clearing status by both the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT).
CWT Group CEO Loi Pok Yen is elated with the Straits team effort in obtaining all necessary authorizations so quickly. Straits Financial LLC can now be an entry point for the Group’s foray into
providing financial services to participants in the global derivatives market. “Straits is a logical extension of CWT’s logistics and commodity businesses and will be an added benefit to our customers.”
Joseph Mazurek, President of Straits Financial adds that Straits is in a unique position within the FCM community. “It is a new FCM with strong strategic global partnerships and the ability to combine the capabilities of providing trading access to the global derivatives market and integrated logistics solution under one umbrella. Whether you are an institution, retail investor, speculator or hedger, as long as you trade futures and derivatives, Straits should be your preferred choice for an FCM.”
Straits Financial Chief Operating Officer Paul Fry is also excited that the regulatory approvals are now in place. “The Straits team can now turn their attention to on-boarding and servicing customer accounts and building client relationships.”
Now that Straits Financial LLC is established, the Group plans to establish offices in other locations, primarily throughout Asia.