Xiaomi-backed online brokerage Tiger Brokers Singapore today announced that it has received approval-in-principle to be admitted as a clearing member of The Central Depository (CDP).

Tiger Brokers has also received approval-in-principle from Singapore Exchange Securities Trading (SGX-ST) as well as Singapore Exchange Derivatives Trading (SGX-DT) for admission as a Trading Member. 

Tiger Brokers expects to use these approvals-in-principle to improve the user experience and services it offers to clients. 

“Tiger Brokers Singapore has always been focused on bringing a superior user experience to investors. These approvals-in-principle, together with our previous partnerships spanning financial data, cloud and financial technology, are part of our focus on providing a superior user experience to investors,” says Eng Thiam Choon, CEO of Tiger Brokers Singapore.

Tiger Trade launched in February 2020, offering retail investors to trade in equities, exchange-traded funds (ETFs), futures, stock options, warrants, callable bull/bear contracts, daily leveraged certificates, US-listed over-the-counter (OTC) equities and fund mall.

Investors are also able to trade on six different exchanges - New York Stock Exchange (NYSE), Nasdaq, Shanghai/Shenzhen- Hong Kong Stock Connect, the Hong Kong Stock Exchange (HKEX), the Singapore Exchange (SGX) and the Australian Securities Exchange (ASX).