Who this is for
- - Trading platforms
- - Execution venues
- - Fintech brokers
- - Marketplace operators
Trigger questions
- - Does the platform bring together buyers and sellers or route orders?
- - Who curates opportunities, sets access rules, or controls execution logic?
- - Are platform users receiving advice, brokerage, custody, or market access?
Common mistakes
- - Describing a regulated trading workflow as only software.
- - Leaving market conduct, technology resilience, and custody out of the licence analysis.
Compare by jurisdiction
Securities and Futures Commission
Hong Kong
Typically 4 to 8+ months after a serious application pack is ready.
Open matrixMonetary Authority of Singapore
Singapore
Typically 4 to 9+ months depending on route and readiness.
Open matrixFinancial Conduct Authority
United Kingdom
FCA service standards distinguish complete and incomplete applications; practical timelines often run 4 to 10+ months.
Open matrixSEC / FINRA / state securities regulators
United States
SEC adviser registration can become effective in about 45 days if complete; FINRA new member review may run up to 180 calendar days for substantially complete applications.
Open matrixAustralian Securities and Investments Commission
Australia
Often 4 to 8+ months depending on authorisations and proof quality.
Open matrix