Tiger Brokers joins SGX as member for securities and derivatives

Rick Steves

Tiger Brokers is the first online brokerage with SGX memberships across securities trading and clearing, securities depository and derivatives trading.

Singapore Exchange (SGX) has welcomed Tiger Brokers as a Trading Member, as well as a Clearing Member and Depository Agent of The Central Depository (Pte) Limited (CDP).

Singapore’s securities and derivatives markets are now strengthened with the presence of Tiger Brokers, a Nasdaq-listed global online brokerage firm founded in 2014.

Tiger Brokers is SGX’s 26th Trading Member and Clearing Member for its securities market, and the 67th member of the Derivatives market. The central depository has 50 Depository Agents.

The brokerage firm provides a one-stop trading platform for customers to trade a wide range of securities across multiple global markets and currencies.

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.”

Eng Thiam Choon, Chief Executive Officer of Tiger Brokers (Singapore), commented: “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 recognised 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. This would also allow us to focus on Gen Z investors and beyond to trade and invest as part of their wealth management while gaining a higher level of trust with institutional partners to onboard our B2B platform.”

The broker has recently partnered with Onfido to automate customer onboarding using its AI-powered document and biometric verification solution.

The ID verification and authentication company is set to efficiently verify users while meeting Know-Your-Customer (KYC) requirements.

Tiger Brokers wanted to improve its onboarding process for the proprietary trading platform, Tiger Trade, as the number of new clients keeps increasing.

Onfido’s automated solution is expected to expedite the KYC process so that Tiger Brokers’ customers are able to start trading as soon as possible.

Users can verify themselves by simply taking a photo of their passport or Singapore NRIC and a short selfie video. The ID verification solution checks how genuine is the user’s ID and then matches it to the selfie video as it performs liveness checks.

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