Please note that as a customer or potential customer of LabyrinthX Technologies Pte. Ltd. (the “Company“), you should be aware of the following:
1. The Company is permitted to operate in the Monetary Authority of Singapore (“MAS“) FinTech Regulatory Sandbox only for the period from 1 August 2022 to 30 April 2023 (“Sandbox Period“), to only conduct the activity of establishing or operating an organised market regulated under the Securities and Futures Act 2001.
2. The Company is exempted by MAS from complying with the full legal and regulatory requirements under the SFA, during the Sandbox Period.
3. The Company is not supervised by MAS during the Sandbox Period.
4. The Company’s operation of the organised market may be discontinued by the Company, or where MAS has concerns about the Company, it may require the Company to discontinue the operation of the organised market, during the Sandbox Period.
5. The Company’s continued operations after the Sandbox Period would be subject to the Company obtaining the required regulatory approvals from MAS.
6. The Company may decide to discontinue its service after the Sandbox Period.
7. The Company’s customers will not have access to the dispute resolution scheme managed by the Financial Industry Disputes Resolution Centre (FIDReC).
8. The Company is not permitted to allow the cumulative volumes of capital market products that are securities traded on the organised market operated by the Company at any point of time during the Sandbox Period to exceed a total number of SGD4 billion in total traded value traded on the organised market.
9. The Company –
(a) is only permitted to allow institutional investors and corporate accredited investors; and
(b) is not permitted to allow individuals,
to be provided access to trade on the organised market it operates, as customers.
10. The Company is not permitted to hold any customer’s monies.
11. The Company is not permitted to participate as a participant, or enter into any transaction as a principal, in the organised market that it operates.