UP Fintech approved as the latest member of NYSE
- Access to direct trading on NYSE brings an upgraded investing 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, Sept. 19, 2022 /PRNewswire/ -- UP Fintech Holding Limited ("UP Fintech" or the "Company", Nasdaq: TIGR), a world-leading online brokerage, announced today 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 New York Stock Exchange LLC, NYSE American LLC, and NYSE Arca, Inc., respectively, making it 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 UP Fintech, also known as Tiger Brokers, 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 UP Fintech.
The approval comes after an all-around assessment by NYSE over UP Fintech's 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.
UP Fintech's 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, UP Fintech 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 global customer accounts grew to 1.935 million.
- 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 in the second quarter of 2022.
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 with a focus on redefining global investing with technology for the next generation.
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. Currently, we offer a multitude of quality financial products and services across brokerage, employee stock ownership plan (ESOP) management, investment banking, wealth management, investor community, and investor education.
We strive to elevate financial technology R&D to a new level. While we inherit the best traditions from the financial sector and blend them with the best minds of tech experts, we develop our own technology infrastructure—an aggregation that enables multi-currency trading of various products across markets, guaranteeing our reliable, secure, and scalable services are accessible to all with low latency.
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 different markets, and have over 1,000 employees on the team in Australia, China, New Zealand, Singapore, and the US.
For more information about UP Fintech as a company, please visit itigerup.com
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SOURCE UP Fintech Holding Limited
