By acquiring this direct
clearing membership with COMEX it not only allows us to take our service offering to
the next level, it provides Straits a competitive advantage over indirect clearing members.
Chicago, IL (PRWEB) March 01, 2012
Straits Financial LLC, a member and brokerage arm of the CWT Group, today announced it has been approved as a Comex clearing member as of February 10, 2012. Straits is a registered FCM and a clearing member firm with the CME, CBOT and NYMEX.
“A month ago, we announced the firm’s approval as a NYMEX Clearing Member. Attaining approval as a COMEX Clearing Member today is yet another excellent new development for Straits and we are all very excited with what this membership means for both Straits and our customers. For starters, it definitely creates the ability for Straits to better deliver and expand our clearing and execution services to COMEX traders in both metals futures and options products.” said Joseph Mazurek, President of Straits Financial LLC.
“We remain very focused in serving this marketplace and by acquiring this direct clearing membership with COMEX it not only allows us to take our service offering to the next level, it provides Straits a competitive advantage over indirect clearing members, enhancing business and trading efficiencies for both Straits and our customers.” adds Paul Fry, Chief Operating Officer of Straits Financial LLC.
“Straits is definitely on target with our acquiring direct clearing status with global exchanges and will continue to seek such memberships to cater to our client base, and seeing these initiatives translate to increased trading volumes had been most encouraging.” said Mr. Jeremy Ang, Group CEO of Straits Financial Group.
About Straits Financial Group
Headquartered in Singapore, Straits Financial Group is the brokering division of the CWT Group and has established offices in Singapore, Chicago and Shanghai with planned gateways in Southeast Asia and beyond. Our US subsidiary, Straits Financial LLC, is a full Clearing Member of the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT). Through our global offices and partnerships, we are focused on delivering a wide range of financial services including brokerage of exchange-traded and OTC products as well as trade facilitation for physical commodities. For more information, visit http://www.straitsfinancial.com.
About CWT Group
CWT is a leading provider of integrated logistics solutions for worldwide customers in the commodities, chemical and petrochemical, marine, oil and gas, defense and industrial sectors. CWT designs, engineers and manages unique and effective supply chain solutions leveraging its in-depth domain knowledge, innovative capabilities and global logistics infrastructure. Through its global network, the CWT Group is able to connect customers to 120 ports and over 1,200 destinations seamlessly around the world.
Headquartered in Singapore, the CWT Group also provides engineering management and maintenance services for facilities and vehicles and equipment fleet as well as financial services through the asset management of Cache Logistics Trust and brokering of futures and derivatives trades. The largest listed logistics company in Southeast Asia, CWT is traded on the Singapore Exchange under the stock symbol CWT. For more information, visit http://www.cwtlimited.com.