Tiger Brokers adds ASX to its Online Trading & Mobile App
18 September 2020 - 2:30PM
JCN Newswire (English)
SINGAPORE, Sept 18, 2020 - (ACN Newswire) - Tiger Brokers, the
NASDAQ-listed, Xiaomi-backed online brokerage focused on global
trading across the world's top markets, announced the addition of
the Australian Securities Exchange (ASX) to its mobile and online
trading application, Tiger Trade. This brings the current number of
exchanges available to regional investors to 6; the US, Hong Kong,
China, Singapore, and Australia: the New York Stock Exchange
(NYSE), NASDAQ, Shanghai/Shenzhen-Hong Kong Stock Connect, Hong
Kong Stock Exchange (HKEX), Singapore Stock Exchange (SGX), and
since Monday, the ASX.
The addition of ASX to Tiger Trade's offering addresses regional
investors' increasing appetite for equities, even during the
current COVID-19 pandemic: Tiger Brokers witnessed a surge in
account openings especially during June to August, with an increase
of 43% y-o-y following the addition of SGX to the platform on June
8. With the ASX seeing an average daily on-market trading volume of
AU$5.4 billion (S$5.36 billion) in July, up 21% y-o-y, it was
natural that Tiger Brokers would want to provide access to ASX
trading on its platform and to expand its offerings to potential
ASX investors.
Mr Eng Thiam Choon, CEO of Tiger Brokers Singapore, said, "Tiger
Brokers believes that technology is a strong enabler to providing
convenient access for retail investors to meet their investing
needs. The access to another popular stock exchange like the
Australian Securities Exchange will allow investors to further
diversify their investment portfolio."
Demand for Overseas Exchanges
The top 10 stocks traded on the Tiger Trade 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 Airlines (SIA) in Singapore. Across exchanges, the
sectors most traded were ihealthcare, followed by the technology
sector.
"Industries like healthcare and technology have seen tremendous
interest from retail investors, and surging stock prices. Tiger
Trade has also seen an increased number of transactions in these
stocks. We are also seeing retail investors more comfortable using
online trading platforms such as ours, similar to the financial
industry as a whole, which is rapidly digitizing. With more people
at home, the consumption of technology has risen, and Tiger Brokers
is well placed to meet that rising trend," said Mr Eng.
Mr Wu Tianhua, CEO of Tiger Brokers, commented, "A major increase
in new customers in Q2 2020 as well as a strong growth momentum in
total client assets is indicative of the appeal of our service
offerings to both retail and institutional clients. The improvement
of these key business metrics showed strength in the business
amidst the COVID-19 induced market volatility."
Tiger Brokers Singapore is able to tap the expertise and insight of
its parent UPFintech Holdings (NASDAQ: TIGR) in helping drive
fintech innovation in Singapore and Southeast Asia. UPFintech
Holdings focus is on global Chinese investors. UPFintech's Q2
earnings shared positive momentum with revenue growth of 121.8%
y-o-y to US$30.1 million, on trading volume of US$46.8 billion.
Client assets hit a high of US$8.3 billion as of June 30, an
increase of 132.9% from a year earlier. UPFintech led the rankings
of underwriters among brokerages for US IPOs during H1 2020.
Despite COVID-19, UPFintech assisted many firms in settling sizable
orders, showing the group's capability to serve its 500+
institutional and corporate clients. Earlier this month, it
received approval for five new Financial Industry Regulatory
Authority, Inc. ("FINRA") licences in the United States.
The Tiger Trade mobile app is available for download at 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
For media enquiries, please contact:
PRecious Communications for Tiger Brokers (Singapore)
Email: Tiger@preciouscomms.com / media@tigerbrokers.com.sg
Phone: +65 9667 3157 or +65 9152 0086
Source: Tiger Brokers (Singapore) Pte Ltd
Copyright 2020 ACN Newswire . All rights reserved. |
Up Fintech (LSE:0A32)
Historical Stock Chart
From Apr 2024 to May 2024
Up Fintech (LSE:0A32)
Historical Stock Chart
From May 2023 to May 2024
Real-Time news about Up Fintech Holding Ltd (London Stock Exchange): 0 recent articles
More Up Fintech Holding Ltd News Articles