Tiger Brokers approved as the latest member of NYSE
Access to direct trading on NYSE brings an upgraded investing experience.
Tiger Brokers, an online brokerage, has announced that its US subsidiary TradeUP Securities, Inc. is the latest member of the New York Stock Exchange (NYSE).
The NYSE's approval gives TradeUP Securities, Inc. membership in New York Stock Exchange LLC, NYSE American LLC, and NYSE Arca, Inc., respectively, making the company one of the very first fintech brokers to obtain this status. The move also boosts its worldwide number of global licenses and qualifications from 56 to 59.
The membership enables Tiger Brokers, also known as UP Fintech Holding Limited, to offer investors direct access to rapid and efficient electronic executions on NYSE, in an upgraded investing experience reshaped by lower latency, more competitive pricing, and more flexible order placements.
"We are very excited about the NYSE membership. The move marks a growing industry recognition, and a valuable accolade, to our financial technology R&D capabilities. As a world-leading online brokerage, we strive to elevate R&D to a new level, to let everyone enjoy a secure, stable, and superior global investing experience in one stop," said Wu Tianhua, CEO and founder of Tiger Brokers.
The approval comes after an all-around assessment by NYSE over Tiger Brokers' compliance standards, operations management, capital requirements, and its front- and back-end systems.
"In our relentless pursuit of a better infrastructure we redefine with technology for the next generation, these advantages will surely bode well for our future growth," Wu Tianhua added.
Tiger Brokers' 59 licenses and qualifications are now scattered in global markets including Singapore, the US, Hong Kong, and Australia, giving the company a competitive edge in diversifying license holding and increasing market coverage. This also lays a solid foundation for the company's global expansion.
Prior to this, Tiger Brokers possessed financial licenses and qualifications in the US across segments from securities broker, commodity broker, investment banking, and clearing, to trading securities for its own account. These provide the company with a mature business layout from broker, investment research, securities issuance and underwriting, proprietary investment, and wealth management to clearing.
As one of the first self-clearing license holders in the online brokerage industry, the company has structured a system for retail investors from account opening, deposit, and withdrawal to trading, risk control, clearing, and settlement—a flow brought to life by its fintech innovations.
The company cements its industry-leading position in many categories. By the end of the second quarter in 2022:
- The number of customer accounts totaled 1.935 million globally.
- Of these customers, 731,400 were customers with deposits.
- Net asset inflow from customers exceeded US$1.5 billion in the second quarter of 2022.
- 99% of our customers were retained.