just now
July 12, 2022 - Longbridge Group, a Singapore based Group, which provides securities brokerage services, content and community, wealth management, and online stock trading SaaS solutions, announced that its subsidiary Long Bridge Securities has been granted a Capital Markets Services licence by the Monetary Authority of Singapore.
The licence will allow Long Bridge Securities to engage in dealing with capital markets products, product financing, and providing custodial services activities.
The Longbridge app provides a trading platform to help investors realise their "Discovery, Learning, and Trading" investment journey.
The app has seen more than 1 million installs and from June 2022, low-latency systems were implemented to stock quote and order placement features. Currently, the US stock quote has latencies of under 100 milliseconds while the Hong Kong stock quote comes with end-to-end latencies of under 20 milliseconds. Through the Longbridge app, orders can be successfully placed with latencies of less than 10 milliseconds.
Ms. Gillian Li, CEO of Longbridge Securities Singapore, stated, "As the unrivalled financial hub in Southeast Asia, Singapore has a thriving market that is also regarded as one of the most competitive markets globally. We are delighted to have received the CMS licence from the MAS, which is a glorious milestone for the Group's global online brokerage operations. At the same time, we look forward to launching our application in the coming months to provide Singapore investors with secure, rich, stable and efficient global investment experiences, as well as breakthroughs in meeting unsatisfied demands, which is what we believe the market and users are seeking."
