The Capital Markets Authority has stepped up its market-development agenda, issuing fresh licences to a wider mix of players including investment banks, authorised securities dealers, REIT and collective investment scheme managers, and new intermediary platforms. This licensing wave reflects both renewed investor interest after the 2025 rally and a deliberate push to deepen intermediation capacity so that more institutional and retail capital can be channelled into equities, bonds and alternative assets.Â
Thank you for reading this post, don't forget to subscribe!Alongside new licences, regulators have been refining frameworks around collective investment schemes, multi-asset funds and alternative products, laying the groundwork for more REITs, ETFs and derivatives to come to market. Heading into the new year, the key question is how quickly this product pipeline converts into actual listings and whether the new players can build scale in a market that is still relatively shallow and concentrated.
