Regulation

GLX will operate its online LNG platform in Singapore through GLX Pte Ltd (UEN : 201605068K) a Singapore-incorporated company. After discussions with International Enterprise Board Singapore (IE Singapore), and based on the duration of contracts that can currently be traded via GLX’ LNG platform, GLX has received clearance that it does not require a licence under the Commodity Trading Act (Chapter 48A of Singapore) (CTA) as a commodity market dealing in “commodity forward contracts”. GLX has also received confirmation from IE Singapore that 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.

Joining GLX

Membership of GLX is open to companies or partnerships that buy or sell physical cargoes of LNG.

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