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Offering a more simple, reliable, and efficient process between investors and SGX

Singapore, 9 November 2021 - Xiaomi-backed online brokerage Tiger Brokers (Singapore) Pte. Ltd. (“Tiger Brokers (Singapore)”) has confirmed that it has officially received approvals as the Clearing Member and Depository Agent of The Central Depository (Pte) Limited ("CDP"), and the Trading Member of Singapore Exchange Securities Trading Limited ("SGX-ST") and Singapore Exchange Derivatives Trading Limited (“SGX-DT") from the Singapore Exchange Ltd (“SGX”).

Sharing on the approvals, Eng Thiam Choon, CEO of Tiger Brokers (Singapore) commented, “Tiger Brokers has always been focused on bringing a superior and seamless user experience to investors. Our status as a Clearing Member of SGX’s CDP will not only strengthen our presence amongst Singapore 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.”

Pol de Win, Senior Managing Director, Head of Global Sales and Origination at SGX shared, “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.”

On top of the Singapore Exchange, Tiger Brokers offers its investors access to five other different stock exchanges such as the New York Stock Exchange, NASDAQ, Shanghai/Shenzhen-Hong Kong Stock Connect, Hong Kong Exchange, and the Australian Securities Exchange. This membership with SGX marks one of the latest in a series of continued enhancements to Tiger Trade’s user experience when it comes to investing.

Tiger Brokers (Singapore)’s parent company, UP Fintech Holding Limited (NASDAQ: TIGR) or Tiger Brokers (including all of its subsidiaries and consolidated entities), recently shared their unaudited financial results for Q2 2021. The Company saw a total revenue at US$60.2 million, a 98.7 per cent increase as compared to the same quarter in 2020 and has 1.65 million customer accounts as per Q2 2021. The total trading volume has also increased by 118.2 per cent at US$102 billion compared to US$46.8 billion same time last year. The number of funded accounts has also increased by 215.2% to 529.1K on a year-on-year (y-o-y) basis across the globe.

Tiger Brokers (Singapore) also shared in earlier September 2021 that it has hit a significant milestone as the number of account openings represented by Generation Z [ Ages 18 to 24 years old](Gen Z) saw an increase of over 90 per cent as compared to Q2 last year. As of August 2021, Singapore contributes to around 40 per cent of the Group's international funded accounts beyond China.

Earlier this year, Tiger Brokers (Singapore) joined the Securities Association of Singapore (SAS) as a Member. The membership allows them the opportunity to join other retail broking houses and institutional stockbrokers to discuss key issues concerning the industry and present collective views and proposals to regulators and authorities on a common platform. This is part of Tiger Brokers' continuous effort to keep itself up to date on investor education in the securities and investment space, and to uplift the high industry standards through public education on the awareness towards investment products and risks involved.

Tiger Brokers (Singapore) is also proud to be a Silver Sponsor for the upcoming Singapore FinTech Festival (“SFF”) in November 2021. Tiger Brokers will be conducting a workshop together with guest speakers from Marketnode and PhillipCapital. Nasdaq has also invited Tiger Brokers (Singapore) to participate in their flagship programme – TradeTalks, which will be running throughout the SFF week.

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