Tiger Brokers (Singapore) Receive Approvals from SGX as Depository Agent, Clearing and Trading Member for Investor Trades
SINGAPORE, Nov 10, 2021 – (ACN Newswire) – Xiaomi-backed online brokerage Tiger Brokers (Singapore) Pte. Ltd. is pleased to confirm that it has received official approval as Clearing Member and Depository Agent of the The Central Depository (Pte) Limited (“CDP”) and Trading Member of the Singapore Exchange Securities Trading Limited (“SGX-ST”) and Singapore Exchange Derivatives Trading Limited (“SGX-DT”), from the Singapore Exchange Ltd (“SGX”).
Eng Thiam Choon, CEO of Tiger Brokers (Singapore) commented, “Tiger Brokers has always focused on bringing a superior and seamless user experience to investors. Our status as a Clearing Member of SGX’s CDP will strengthen our presence amongst Singaporean investors and financial institutions as a recognised and credible regulated online brokerage, while providing the added security and efficiency that could possibly reduce the cost and risk of settling multiple transactions among multiple parties. This will also allow us to focus on Gen Z investors and beyond, trading and investing as part of their wealth management, while gaining a higher level of trust with institutional partners to onboard our B2B platform.”
Pol de Win, Senior Managing Director, Head of Global Sales and Origination at SGX said, “Tiger Brokers has been a partner of SGX for a number of years now and we are delighted to be deepening our partnership with them. Tiger Brokers offers fast, efficient and competitive trading solutions for customers worldwide. As the first online brokerage with SGX memberships across securities trading and clearing, securities depository and derivatives trading, Tiger Brokers will enjoy even greater access to SGX’s range of investment and risk management solutions as well as a wider pool of international investors.”
On top of the Singapore Exchange, Tiger Brokers offers its investors access to five other different stock exchanges such as the New York Stock Exchange, NASDAQ, Shanghai/Shenzhen-Hong Kong Stock Connect, Hong Kong Exchange, and the Australian Securities Exchange. This membership with SGX marks one of the latest in a series of continued enhancements to Tiger Trade’s user experience when it comes to investing.
Tiger Brokers (Singapore)’s parent company, UP Fintech Holding Limited (NASDAQ: TIGR) or Tiger Brokers (including all of its subsidiaries and consolidated entities), recently shared their unaudited financial results for Q2 2021. The Company saw a total revenue at US$60.2 million, a 98.7 per cent increase as compared to the same quarter in 2020 and has 1.65 million customer accounts as per Q2 2021. The total trading volume has also increased by 118.2 per cent at US$102 billion compared to US$46.8 billion same time last year. The number of funded accounts has also increased by 215.2% to 529.1K on a year-on-year (y-o-y) basis across the globe.
Tiger Brokers (Singapore) said in earlier September 2021 that it hit a significant milestone as the number of account openings represented by Generation Z[1] (Gen Z) saw an increase of over 90 per cent as compared to Q2 last year. As of August 2021, Singapore contributes to around 40 per cent of the Group’s international funded accounts beyond China.
Earlier this year, Tiger Brokers (Singapore) joined the Securities Association of Singapore (SAS) as a Member. The membership allows them the opportunity to join other retail broking houses and institutional stockbrokers to discuss key issues concerning the industry and present collective views and proposals to regulators and authorities on a common platform. This is part of Tiger Brokers’ continuous effort to keep itself up to date on investor education in the securities and investment space, and to uplift the high industry standards through public education on the awareness towards investment products and risks involved.
Tiger Brokers (Singapore) is also proud to be a Silver Sponsor for the upcoming Singapore FinTech Festival (“SFF”) in November 2021. Tiger Brokers will be conducting a workshop together with guest speakers from Marketnode and PhillipCapital. Nasdaq has also invited Tiger Brokers (Singapore) to participate in their flagship programme – TradeTalks, which will be running throughout the SFF week.
The Tiger Trade mobile application is available for download at the Apple App Store and Google Play Store.
– Apple App Store: https://apps.apple.com/sg/app/id1023600494
– Google Play Store: https://play.google.com/store/apps/details?id=com.tigerbrokers.stock
[1] Ages 18 to 24 years old
About Tiger Brokers (Singapore) Pte Ltd.
Tiger Brokers (Singapore) Pte Ltd (“Tiger Brokers (Singapore)”) is a brokerage firm operating with a Capital Markets Services (CMS) Licence from the Monetary Authority of Singapore (MAS). Its trading platform, Tiger Trade – available on both online and mobile app (Apple App Store and Google Play Store) offers complimentary real-time stock quotes, dedicated multilingual customer service during trading hours and 24/7 finance news updates. Its online and mobile app trading platform, Tiger Trade, offers complimentary real-time stock quotes, dedicated multilingual customer service during trading hours and 24/7 finance news updates.
Through Tiger Trade, Tiger Brokers (Singapore) offers retail investors in Singapore access to six global exchanges in the US (NYSE, NASDAQ), China (Shanghai/Shenzhen-Hong Kong Stock Connect), Hong Kong (HKEX), Singapore (SGX) and Australia (ASX), with access to investment offerings such as Equities, Exchange-Traded Funds (ETFs), Futures, Stock Options, Warrants, Callable Bull/Bear Contracts (CBBCs), Daily Leveraged Certificates (DLCs), and US-listed over the counter (OTC) equities, and Fund Mall.
Tiger Brokers (Singapore) is the Singapore entity of UP Fintech Holding Limited (NASDAQ: TIGR), known as “Tiger Brokers” in Asia, a leading online brokerage firm focusing on global investors. Founded in 2014, Tiger Brokers became #1 in the U.S. equity trading by volume among trading platforms catered to Global Chinese investors in less than two years. Tiger Brokers was awarded “2017 Fintech 250” by CB Insights and shortlisted for “China Leading Fintech 50” for two years in a row by KPMG China. The company was listed on NASDAQ under “TIGR” in 2019 and has offices in China, United States, Australia, New Zealand and Singapore. Tiger Brokers has over 1.4 million customers worldwide currently, with a total trading volume exceeding USD123.8 billion in Q1 2021. The company is backed by well-known investors such as Xiaomi, as well as investment guru Jim Rogers. For more information, please visit https://www.tigerbrokers.com.sg
About UP Fintech Holding Limited
UP Fintech Holding Limited is a leading online brokerage firm focusing on global investors. The Company’s proprietary mobile and online trading platform enables investors to trade in equities and other financial instruments on multiple exchanges around the world. The Company offers innovative products and services as well as a superior user experience to customers through its “mobile first” strategy, which enables it to better serve and retain current customers as well as attract new ones. The Company offers customers comprehensive brokerage and value-added services, including trade order placement and execution, margin financing, IPO subscription, ESOP management, investor education, community discussion and customer support. The Company’s proprietary infrastructure and advanced technology are able to support trades across multiple currencies, multiple markets, multiple products, multiple execution venues and multiple clearing houses. For more information on the Company, please visit: https://ir.itiger.com.
For media enquiries, please contact:
PRecious Communications for Tiger Brokers (Singapore)
Email: Tiger@preciouscomms.com
This advertisement has not been reviewed by the Monetary Authority of Singapore.
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