GLX will operate its online LNG platform in Singapore through GLX Pte Ltd (UEN : 201605068K) a Singapore-incorporated company. Based on the duration of the contracts that can be traded on GLX platform, we have assessed that GLX does not require approval under the Commodity Trading Act (Chapter 48A of Singapore) (CTA) as a commodity market dealing in “commodity forward contracts” and that even if the contracts traded on its online LNG platform were to fall under the definition of “spot commodity trading” in the CTA, it is exempt from licensing as a spot commodity broker. 

 Members are also reminded to assess for themselves and if necessary consult their own professional advisers as to whether they are required to hold any licence under the CTA and whether they may rely on any licensing exemptions in the Schedule to the CTA.