ANZ joins StanChart in obtaining top derivatives licence in the Philippines
A large number of foreign banks are applying for the new dealing licence
Australian bank ANZ on November 11 became the second dealer to obtain the highest level of derivatives dealing licence in the Philippines, following Standard Chartered's approval on October 15.
A type 1 licence granting 'expanded dealer authority' gives the widest authority of the four derivatives dealing/broking licences issued by Bangko Sentral ng Pilipinas (BSP), the country's central bank. It means the approved company may transact in any financial derivatives as a dealer, broker and end-user
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