Tiger Brokers
Company Overview[edit]
Tiger Brokers is a trademark of an online brokerage firm listed as UP Fintech Holding Limited on the NASDAQ exchange (NASDAQ: TIGR)[1]. Tiger Broker’s mobile and online trading platform, named Tiger Trade, enables investors to trade in equities and other financial instruments on multiple exchanges around the world all in one integrated account. The company also provides financial services to institutional clients including IPO underwriting, ESOP management services, one-stop incubation service and investment advisory services.
Tiger Brokers and subsidiaries hold 21 licenses/registration in the USA, New Zealand, Australia, Hong Kong and Singapore. In 2018, Tiger Brokers achieved US$119.2 billion trading volume[2]. On March 20, 2019, Tiger Brokers made its debut on Nasdaq under the ticker symbol "TIGR"[3].
History[edit]
Tiger Brokers commenced technology research and development in June 2014[4]. Tiger Trade mobile app was launched in August 2015 and gets upgraded at two-week intervals. By January 2016, Tiger Trade became the number one in USA equity trading by volume among trading platforms catering to global Chinese investors. In May 2016, Tiger Brokers expanded its business to offerings of Hong Kong stock brokerage services including margin financing. Since then, it has continued to expand its product offerings, such as futures, warrants, and ShanghaiHong Kong Stock Connect and ShenzhenHong Kong Stock Connect programs. Complementary services such as market information, community engagement, investor education and simulated trading were also added to its trading platform.
Within three years since the launch of Tiger Trade, its accumulated trading volume surpassed USD $130 billion. The company was valued at USD $1 billion in Series C funding round in July 2018[5][6].
Tiger Brokers became a public company through an initial public offering in March 2019. In July 2019, the company announced that its wholly-owned US subsidiary, Tiger Fintech Holdings, Inc., successfully closed the transaction with regard to its acquisition of 100 percent equity stake of Marsco Investment Corporation[7].
Operation[edit]
Tiger brokers’ key personnel comprise of experienced Internet entrepreneurs and talents from top Internet and technology giants in China such as Baidu, NetEase, Tencent and Xiaomi[8]. The company also has an experienced team of financial professionals from world-class institutions such as Citigroup, Goldman Sachs, Morgan Stanley and UBS.
Tiger Brokers operates a website and desktop/mobile apps for Mac, iPhone, android and Xiaomi Mi Watch.
According to the latest unaudited financial results for the third quarter ended September 30, 2019, commission only contributed 45% of net revenue this quarter while last quarter was 78%, which indicates the company has started to diversify its revenue source and become less reliant on trading commission.
Statistics in the financial report also pointed out that, as of September 30, 2019 the overall number of Tiger's customer accounts reached approximately 607,000, up 33% year-on-year, and the total account balance reached about US$3.8 billion, up 47% compared to the same period last year.
In addition to brokerage services, the company also offers asset management and wealth management services such as IPO subscription, purchase of overseas fund products or bonds. In November 2018, the asset management arm of Tiger Brokers, UP Fintech Asset Management, launched its first exchangetraded fund, or ETF, named as UP Fintech China-U.S. Internet Titans ETF(Ticker: TTTN).
Tiger Brokers introduced institutional and corporate services in May 2019. It provides ESOP management services to soontobe listed and listed companies which enable them and their employees to easily manage their equity incentive schemes. Overall, Tiger Brokers had worked with 34 corporate clients.
On October 16, 2019, Tiger Brokers’ wholly- owned subsidiary, US Tiger Securities, Inc. (“USTS”), received approval for conducting new businesses, including underwriting, private placements, mergers and acquisitions, mutual fund retailing, as well as selling group participant services from the Financial Industry Regulatory Authority(“FINRA”). This helps the company expand its global capabilities to keep up with increasing demand for capital markets services, such as those from Chinese ADR issuers, and will allow USTS to commence providing underwriter or selling group participant services, (corporate securities other than mutual funds), private placements of securities, M&A advisory services, including fairness opinions, and mutual fund retailer services in the U.S.
References[edit]
- ↑ Aiden Wang (5 July 2019). "UP Fintech: A Unique Opportunity Within The China Online Brokerage Business". Seekingalpha.
- ↑ Amanda Lee (23 February 2019). "Xiaomi-backed online broker that serves Chinese stock traders aims to raise US$150 million in Nasdaq IPO". South China Morning Post.
- ↑ PAUL WELITZKN (22 March 2019). "Chinese online brokerage UP Fintech shares rise 36.5% in first day of trading". China Daily.
- ↑ "Xiaomi-backed Tiger Brokers raises $104 mn in US IPO eyeing Chinese young investors". Technode. 21 March 2019.
- ↑ Ka Kay Lum (11 July 2018). "Jim Rogers-backed Tiger Brokers raises $80m Series C, enters unicorn club". Deal Street Asia.
- ↑ Li Tao (11 July 2018). "Jim Rogers-backed mobile securities broker Tiger becomes China's latest unicorn". South China Morning Post.
- ↑ Luna Li (2 July 2019). "Xiaomi-backed Tiger Brokers is getting itself a US clearing license via acquisition". KR Asia.
- ↑ Yang Ge (30 March 2017). "Jim Rogers Picks Financial Tiger for First China Startup Investment". CaiXin.
This article "Tiger Brokers" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Tiger Brokers. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
