UP Fintech approved as latest member of NYSE
- Access to live trading on the NYSE provides an upgraded investment experience
- UP Fintech’s number of licenses and qualifications worldwide grows to 59
- A new milestone marks UP Fintech’s growing industry-wide recognition
NEW YORK, 19 September 2022 /PRNewswire/ — UP Fintech Holding Limited (“UP Fintech” or the “Company”, Nasdaq: TIGR), a world-leading online brokerage, today announced that its subsidiary TradeUP Securities, Inc. is the latest member of the New York Stock Exchange (NYSE).
The NYSE’s approval gives the company membership in the New York Stock Exchange LLC, NYSE American LLC and NYSE Arca, Inc., respectively, making it one of the very first fintech brokers to achieve this status. The move also increases its worldwide number of global licenses and qualifications from 56 to 59.
The membership enables UP Fintech, also known as Tiger Brokers, to offer investors direct access to fast and efficient electronic executions on the NYSE, in an upgraded investment experience shaped by lower latency, more competitive pricing and more flexible order placement.
“We are very excited about the NYSE membership. The move marks growing industry recognition, and a valuable accolade, to our fintech R&D capabilities. As a world-leading online brokerage, we strive to elevate R&D to a new level, to allow everyone to enjoy a safe, stable and superior one-stop global investment experience,” said Wu Tianhua, CEO and founder of UP Fintech.
The approval comes after a comprehensive assessment by the NYSE of UP Fintech’s compliance standards, operational management, capital requirements and its front- and back-end systems.
“In our relentless pursuit of a better infrastructure we are redefining with next-generation technology, these advantages will surely bode well for our future growth,” Wu Tianhua added.
UP Fintech’s 59 licenses and qualifications are now spread across global markets, including SingaporeUSA, Hong Kongand Australia, which gives the company a competitive advantage when it comes to diversifying its license portfolio and increasing market coverage. This also lays a solid foundation for the company’s global expansion.
Prior to this, UP Fintech had financial licenses and qualifications in the USA across segments from securities broker, commodity broker, investment bank and clearing, to trading in securities for its own account. These provide the company with a mature business setup from brokerage, investment analysis, securities issuance and underwriting, proprietary investments and asset management to clearing.
As one of the first self-clearing licensees 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 is consolidating its industry-leading position in many categories. At the end of the second quarter of 2022:
- The number of global customer accounts grew to 1.935 million.
- Of these customers, 731,400 were customers with deposits.
- Net asset inflows from customers exceeded 1.5 billion dollars in the second quarter of 2022.
- 99% of our customers were retained in the second quarter of 2022.
The NYSE is one of the world’s largest stock exchanges.
About UP Fintech
UP Fintech Holding Limited (Nasdaq: TIGR), also known as Tiger Brokers, is a leading online brokerage focused on redefining global investments with next-generation technology.
Founded in 2014, we relentlessly offer superior user experience in pursuit of becoming a world-leading online brokerage, to let everyone enjoy efficient and smart investing. We currently offer a range of quality financial products and services across brokerage, ESOP management, investment banking, wealth management, investor community and investor education.
We strive to lift financial technological R&D to a new level. While inheriting the best traditions of the financial sector and mixing them with the best minds of technical experts, we develop our own technological infrastructure – an aggregation that enables multi-currency trading of various products across markets, guaranteeing our reliable, secure and scalable services are available to everyone with low waiting times.
IN March 2019, UP Fintech was listed on Nasdaq under the ticker TIGR. As of now, we serve over 9 million users and 2 million account holders worldwide on our flagship platform “Tiger Trade”, own 59 licenses and qualifications in various markets, and have over 1000 employees on the team in Australia, China, New Zealand, Singaporeand the United States.
For more information about UP Fintech as a company, visit itigerup.com
SOURCE Fintech Holding Limited
