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.

Read this next

Executive Moves

TopFX promotes Omar Al-Janabi to head of sales and business development

Prime brokerage firm TopFX has strengthened its Middle East operations with the promotion of Omar Al-Janabi, who is taking on an expanded role as global head of sales and business development.

Retail FX

Plus500 says 2022 revenue to be ‘significantly’ ahead of analysts’ estimates

Israeli-based, but London-stock market listed Plus500 said it expects annual revenue and earnings to be ahead of analysts’ estimates even as trading levels normalised from record volumes in the first quarter.

Digital Assets

Crypto derivatives giant BitMEX launches spot market

Crypto exchange BitMEX is looking to branch out of its singular focus on crypto derivatives with a suite of new product offerings. Although derivatives are to remain at the heart of BitMEX’s business, the popular platform will add spot crypto trading as it aims to aggressively grow their user base.


PrimeXM reports mixed trading volumes for April

PrimeXM has reported weaker trading volumes for April 2022, in line with other institutional and retail platforms that saw the activity of their clients dropped compared to a month earlier.

Digital Assets

DLT Finance approved by BaFin to support brokerage and custody of digital assets

DLT Finance is already partnered with big names within the digital asset space, including Kraken, Bitstamp, B2C2, and Bittrex.

Institutional FX

LUKB taps vestr to launch actively managed products, AMCs

The partnership with vestr goes to show the growing importance of digitising the active investment management space.

Digital Assets

Jewel taps Tokeny to launch stablecoin-as-a-service solution on Polygon

Jewel aims to offer a stablecoin-as-a-service solution to other digital asset and financial institutions B2B, allowing those businesses to provide cheaper, easier and near real time payments with stablecoins issued and redeemable directly at the bank level at Jewel.

Industry News

SEC charges $410+ million Ponzi scheme with pre-IPO shares

We allege that the defendants deceived investors about the pre-IPO shares they held, how much they were charging in fees, and who was controlling the business—all while paying themselves more than $75 million.

Industry News

FNZ taps data analytics GIST to address ESG ratings bias

The allocation of capital is critical to driving the change required to transition to net-zero and building a more sustainable economy and society.