Alpaca Securities has received in-principle approval (IPA) from the Monetary Authority of Singapore, a conditional step towards a Capital Markets Services (CMS) licence.London's trading industry is coming home!If granted, the licence would enable the company to provide brokerage and custodial services from Singapore to partners in Southeast Asia. The IPA advances a regional expansion that Alpaca has already begun building operationally but cannot yet launch commercially. Alpaca Builds Its Southeast Asian Base Alpaca established Alpaca Securities Pte. Ltd. as its Southeast Asian headquarters and assembled a local management team before receiving the conditional regulatory approval. In May, the company appointed Rohit Mulani as President of Alpaca Southeast Asia and David Grant as CEO of Alpaca Singapore. Grant is responsible for the local operation, while Mulani leads the company’s regional strategy, partnerships and expansion. The company has since applied for the CMS licence and received in-principle approval. If the remaining conditions are met, the Singapore entity plans to provide brokerage and custody infrastructure and act as a local counterparty for financial institutions. The IPA does not give Alpaca new operating rights at this stage. MAS may issue the licence once the company fulfils the specified conditions, provided there are no material adverse developments. The regulator may also withdraw the conditional approval. “As financial institutions across Southeast Asia look to meet growing customer demand for international investing, Singapore is a natural hub for connecting the region’s investors to global markets,” Mulani said.Regional Expansion Began Before the Licence Alpaca has identified growing customer demand for international investing as the reason for expanding in Southeast Asia. Indonesia provides one indication of the region’s investor base. The country had 31.14 million capital-market investors at the end of August 2026, according to its Financial Services Authority. The figure includes mutual funds, bonds and other instruments, not only shares, and does not show how many investors want access to US securities. Earlier in September, Alpaca signed an agreement with the Indonesia Stock Exchange to explore a structure that would allow Indonesian brokers to provide access to foreign securities. The parties are also examining access to Indonesia for international market participants. A Singapore CMS licence would support Alpaca’s regional operations but would not automatically authorise it across Southeast Asia. Commercial launches in other countries would remain subject to their local regulatory requirements.This article was written by Tanya Chepkova at www.financemagnates.com.