Singapore, 21 Dec 2021 – Phillip Securities, Singapore’s largest non-bank backed retail broker, will launch Pi-X1, Asia’s first trading platform for trading of US equities during Asian time zone, in March 2022.
Retail investors in Singapore, broker-dealers & institutional investors in Asian time zone are all welcome to trade on Pi-X1.
Currently, Asian Investors must wait till around Asian mid-night to trade US equities on US exchange. Pi-X1 will provide a unique opportunity to Asian Investors to buy or sell during Asia’s day time zone.
H. Shimoyama, Phillip Securities’ Executive Director, Team of Pi-X Projects shares, “we created Pi-X1 when we saw the growing demand for US Equities from Asian investors. This is one of the many initiatives our company has rolled out to better serve our customers’ needs. About 40 of the most liquid and popular US equities will be tradable on Pi-X1. We expect the transaction amount could be USD10 million per day as a start.”
Pi-X1 will be open from 9:00 to 17:00, Singapore time. To trade on Pi-X1, investors will need to open an account with Phillip Securities. Phillip Securities will act as principal in the trade with buyers and sellers. Trade matching will be done by order book. All transactions will go to order book through a trading screen or via API.
A member of PhillipCapital, Phillip Securities Pte Ltd offers a comprehensive suite of financial products and services includes broking in securities, futures, foreign exchange, bonds, precious metals and commodities, unit trusts, contracts for difference, exchange traded funds; fund management, managed accounts, insurance planning, regular savings plan, investment research, equity financing and property consultancy. Institutions can also benefit from our corporate finance and advisory services as well as information technology solutions.
Since our inception as a stockbroker in 1975, PhillipCapital has grown into an integrated Asian financial house with a global presence and offers a full range of quality and innovative services to retail and high net worth individuals, family offices, as well as corporate and institutional customers.
Today, PhillipCapital headquartered in Singapore, operates in the financial hubs of 15 countries, including offices in Australia, Cambodia, China (and Hong Kong SAR), France, India, Indonesia, Japan, Malaysia, Singapore, Thailand, Turkey, UK, UAE, USA and Vietnam, serving over 1 Million clients with Assets Under Management of total more than USD 35 Billion.
Issued on behalf of Phillip Securities by Marketing Communications Department.
Phillip Securities, Executive Director, Team of Pi-X projects
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