Wealthtech

Xiaomi-Backed Tiger Brokers Granted Approvals-in-Principle for SGX Trading

Xiaomi-backed online brokerage Tiger Brokers Singapore announced that it has received approval-in-principle to be admitted as a clearing member of The Central Depository (CDP).

Tiger Brokers has also received approval-in-principle from Singapore Exchange Securities Trading Limited (SGX-ST) as well as Singapore Exchange Derivatives Trading Limited (SGX-DT) for admission as a trading member.

The brokerage expects to use these approvals-in-principle to improve the user experience and services it offers to clients.

Tiger Brokers said in a statement that it looks forward to developing its partnerships with CDP, SGX-ST and SGX-DT and strengthening its presence in the Singapore market.

Officially launched in Singapore in February 2020, Tiger Trade offers retail investors multiple trading opportunities.

Investors are also able to trade on six different exchanges – New York Stock Exchange (NYSE), National Association of Securities Dealers Automated Quotations Exchange (NASDAQ), Shanghai/Shenzhen-Hong Kong Stock Connect, the Hong Kong Stock Exchange (HKEX), the Singapore Exchange (SGX) and the Australian Securities Exchange (ASX).

Eng Thiam Choon

Eng Thiam Choon, CEO of Tiger Brokers Singapore commented,

“Tiger Brokers Singapore has always been focused on bringing a superior user experience to investors.

These approvals-in-principle, together with our previous partnerships spanning financial data, cloud and financial technology, are part of our focus on providing a superior user experience to investors.”