CWT's financial services arm gets regulatory licence from Indonesia

SINGAPORE - Logistics firm CWT said on Tuesday its financial services arm Straits Financial Group has obtained a regulatory licence from Indonesia.

This is to operate a physical commodity exchange and a dedicated clearing house in Indonesia.

The physical exchange will be branded as Asia Commodity Marketplace, with plans to offer an organised place for local producers and international users, "to transact directly and negotiate anonymously over an electronic platform".

The marketplace plans to roll out a suite of agricultural products next year (2017) such as cocoa, coffee, rubber, soybean and sugar.

rachaelb@sph.com.sg