Sept 18, 2020 – Tiger Brokers, the NASDAQ-listed, Xiaomi-backed on-line brokerage centered on international buying and selling internationally’s high markets, introduced the addition of the Australian Securities Change (ASX) to its cellular and on-line buying and selling software, Tiger Commerce. This brings the present variety of exchanges obtainable to regional buyers to six; the US, Hong Kong, China, Singapore, and Australia: the New York Stock Change (NYSE), NASDAQ, Shanghai/Shenzhen-Hong Kong Stock Join, Hong Kong Stock Change (HKEX), Singapore Stock Change (SGX), and since Monday, the ASX.
The addition of ASX to Tiger Commerce’s providing addresses regional buyers’ growing urge for food for equities, even throughout the present COVID-19 pandemic: Tiger Brokers witnessed a surge in account openings particularly throughout June to August, with a rise of 43% y-o-y following the addition of SGX to the platform on June 8. With the ASX seeing a mean every day on-market buying and selling quantity of AU$5.four billion (S$5.36 billion) in July, up 21% y-o-y, it was pure that Tiger Brokers would wish to present entry to ASX buying and selling on its platform and to broaden its choices to potential ASX buyers.
Mr Eng Thiam Choon, CEO of Tiger Brokers Singapore, stated, “Tiger Brokers believes that expertise is a robust enabler to offering handy entry for retail buyers to satisfy their investing wants. The entry to a different standard stock exchange just like the Australian Securities Change will permit buyers to additional diversify their funding portfolio.”
Demand for Abroad Exchanges
The highest 10 stocks traded on the Tiger Commerce platform included Tesla, Alibaba, Apple and Netflix from US exchanges, Tencent and Alibaba from Hong Kong, rounded out by banking stocks, glove makers and Singapore Airways (SIA) in Singapore. Throughout exchanges, the sectors most traded had been ihealthcare, adopted by the expertise sector.
“Industries like healthcare and expertise have seen large curiosity from retail buyers, and surging stock costs. Tiger Commerce has additionally seen an elevated variety of transactions in these stocks. We’re additionally seeing retail buyers extra comfy utilizing on-line buying and selling platforms equivalent to ours, just like the monetary business as an entire, which is quickly digitizing. With extra individuals at residence, the consumption of expertise has risen, and Tiger Brokers is effectively positioned to satisfy that rising pattern,” stated Mr Eng.
Mr Wu Tianhua, CEO of Tiger Brokers, commented, “A significant improve in new prospects in Q2 2020 in addition to a robust progress momentum in complete shopper belongings is indicative of the attraction of our service choices to each retail and institutional purchasers. The advance of those key enterprise metrics confirmed energy within the enterprise amidst the COVID-19 induced market volatility.”
Tiger Brokers Singapore is ready to faucet the experience and perception of its father or mother UPFintech Holdings (NASDAQ: TIGR) in serving to drive fintech innovation in Singapore and Southeast Asia. UPFintech Holdings focus is on international Chinese language buyers. UPFintech’s Q2 earnings shared optimistic momentum with income progress of 121.8% y-o-y to US$30.1 million, on buying and selling quantity of US$46.Eight billion. Shopper belongings hit a excessive of US$8.three billion as of June 30, a rise of 132.9% from a 12 months earlier. UPFintech led the rankings of underwriters amongst brokerages for US IPOs throughout H1 2020. Regardless of COVID-19, UPFintech assisted many corporations in settling sizable orders, displaying the group’s functionality to serve its 500+ institutional and company purchasers. Earlier this month, it acquired approval for 5 new Monetary Trade Regulatory Authority, Inc. (“FINRA”) licences in the US.
The Tiger Commerce cellular app is offered for obtain at Apple App Retailer and Google Play retailer.
Apple App Retailer: https://apps.apple.com/sg/app/id1023600494
Google Play Retailer: https://play.google.com/retailer/apps/particulars?id=com.tigerbrokers.stock
For media enquiries, please contact:
PRecious Communications for Tiger Brokers (Singapore)
E-mail: [email protected] / [email protected]
Telephone: +65 9667 3157 or +65 9152 0086