News and Announcements
iFAST Corporation Ltd: 2017 – A Year of Scaling Up Capabilities
- Published December 15, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- iFAST Singapore admitted as trading member of SGX-ST and clearing member of CDP, with SGX-stockbroking services launched on both B2C and B2B platforms in Singapore subsequently
- US stockbroking services launched on FSMOne, the B2C platform of iFAST Singapore in December 2017
- iFAST Corp saw its fifth consecutive quarter of record AUA levels achieved in 3Q2017
With the official admission of iFAST Financial Pte Ltd, the Singapore subsidiary of iFAST Corporation Ltd, as a trading member of SGX-ST and clearing member of CDP, stock dealing service in SGX-listed stocks and ETFs commenced on FSMOne (www.fsmone.com), the multi-products account on iFAST Singapore’s B2C Fundsupermart platform in June 2017. Subsequently, similar services were also launched on the B2B platform in mid-July, empowering wealth advisers using the iFAST Singapore platform to add value to their clients by including stocks in the clients’ Wrap Account.
Following this important milestone for iFAST Singapore, trading capabilities in US-listed securities was launched in December, bringing the total number of ETFs being offered on FSMOne Singapore to over 2,000, and allowing the investor community in Singapore to gain exposure to US-listed stocks and ETFs at a competitive pricing structure, without being hampered by prohibitive barriers of entry such as high account balances.
With various efforts in place to scale up capabilities and service offerings, iFAST Corp saw its fifth consecutive quarter of record AUA levels, which reached S$7.16 billion as at 30 Sep 2017. In December 2017, iFAST Corp also emerged runner-up in the “Best in Sector – Information Technology” category of IR Magazine Awards South East Asia 2017 organised by IR Magazine.
About iFAST Corporation Ltd (SGX: AIY)
iFAST Corporation Ltd. (“iFAST Corp”) is an Internet-based investment products distribution platform.
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