Singapore-based SGX recently welcomed Tiger Brokers, a Nasdaq-listed international online broker, to its securities and derivatives market as a trading member. Additionally, Tiger Brokers joined Singapore Exchange as a Clearing Member and Depository Agent of The Central Depository (Pte) Limited (CDP).
With the recent joining of Tiger Brokers, the securities market of SGX now has 26 trading members along with 26 clearing members. However, the derivatives market of the Singapore Exchange has a total of 67 trading members and 26 clearing members. CDP’s total number of depositary agents now stands at 50.
“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,” Pol de Win, Senior Managing Director, Head of Global Sales and Origination at SGX, commented on the latest announcement.
Founded in 2014, Tiger Brokers is listed on Nasdaq. The company provides different financial services across a wide range of trading products.
Securities and Derivatives Market
Some of the leading financial institutions in Asia joined SGX’s securities and derivatives market this year. In March 2021, the exchange welcomed Haitong International as a clearing member.
“Tiger Brokers has always been focused on bringing a superior and seamless user experience to investors. This will strengthen our presence amongst investors and financial institutions as a recognized and credible regulated online brokerage while providing the added security layer and efficiency that could possibly reduce the cost and risk of settling multiple transactions among multiple parties,” Eng Thiam Choon, Chief Executive Officer of Tiger Brokers (Singapore), commented.
