Singapore, 2 March 2022 – Mr. Lim Hua Min, Chairman, PhillipCapital Group and Mr. Kitao Yoshitaka, Chief Executive Officer, SBI Holding (SBI Group) have announced the collaboration between Singapore’s PhillipCapital and Japan’s SBI Group to create a Trade Matching Platform for the trading of US-listed equities during Asian time zone.
A new joint-venture company will be created in Singapore in the second quarter of 2022, with an initial capital of USD1 million with subsequent increment to USD6 million for full operations, with PhillipCapital Group occupying 70% ownership, and SBI Group, 30% as shareholders. The key personnel will be transferred from both entities. The joint-venture company will be responsible for developing and maintaining the Trade Matching Platform mentioned below. The company has intention to apply or a Recognised Market Operator licence from the Monetary Authority of Singapore.
For the creation of the Trade Matching Platform, PhillipCapital Group’s system development company, CQ TDT Asia in Vietnam, together with the support of SBI Group, will develop the matching engine for the trading of US-listed equities during the Asian time zone. Over 100 US-listed stocks are expected to be tradable from 9:00 to 17:00 Singapore time. Singapore institutions and overseas institutions, overseas retails through brokers (subject to authorisation of local authority) and liquidity providers will have access to the trading platform. SBI SECURITIES, a member of the SBI Group, is in the process of considering connectivity to the trading platform, to meet growing demand from its Japanese clients.
The trading platform is expected to be fully operational by 1Q 2023. The expected trading volume upon full operation is expected to exceed USD100 million per day in the first year.
Mr. Luke Lim, Managing Director, Phillip Securities, a member of PhillipCapital Group commented, “PhillipCapital Group has a strong working relationship with the SBI Group for more than 10 years, mostly but not limited to the securities business. It is a great pleasure to work together with the SBI Group on this new trading platform initiative.”
SBI Holdings’ Representative Director, President and CEO, Yoshitaka Kitao commented that “it is crucial for us to provide Japanese investors with the opportunity to trade US-listed equities in the daytime. We expect this new platform will enhance our customer experience and expand our securities business.”
Phillip Securities’ Executive Director in charge of this project, Mr Hitoshi Shimoyama, who is expected to be appointed as CEO of the Joint Venture commented that “both PhillipCapital Group and the SBI Group have observed the growing demand from Asian investors to trade US-listed equities during the Asian time zone. With this new platform, Asian investors do not need to wait till Asian midnight hours to trade US equities on the US exchanges. We do not need to wait next day morning to be informed whether clients’ orders have been executed. Asian investors will be able to place and execute orders in the day.”
About the SBI Group
Since its founding in 1999, the SBI Group expanded into a leading global internet-based financial conglomerate. The SBI Group’s core businesses include Financial Services, Asset Management, and Biotechnology, Healthcare & Medical Informatics businesses. In addition, it is one of the largest Japanese private equity firms and leverages its extensive ecosystem to further drive the value of its investments. For more information, please visit https://www.sbigroup.co.jp/english/.
Since its 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.
Headquartered in Singapore, PhillipCapital operates in the financial hubs of 15 countries, including offices in Australia, Cambodia, China (and Hong Kong SAR), India, Indonesia, Japan, Malaysia, Singapore, Spain, Thailand, Turkey, UK, UAE, USA and Vietnam, serving over 1 Million clients with Assets Under Management of total more than USD 35 Billion.
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 its corporate finance and advisory services as well as information technology solutions. Find out more about us here https://www.phillip.com.sg/.
Phillip Securities Japan
For media enquiries, please contact:
Marketing Communications, PhillipCapital
m. 9852 1728
Marketing Communications, PhillipCapital
m. 9128 3709