Read time: 1 min

Phillip Capital Gets FINRA Membership

Capital Inc, a member of Singapore-based PhillipCapital Group, is now a member
of Financial Industry Regulatory Authority (FINRA). As a result, the firm
expands its product range from futures and FX to include self-clearing
corporate equity and debt securities.

firm, which is in the process of completing final rounds of systems testing
prior to launch, will settle securities transactions via the Depository Trust
Clearing Company (DTCC).

thrilled to launch our broker-dealer operations,” says Lynette Lim, co-CEO and
director. “Expanding our product line into securities is a huge milestone for
Phillip Capital, because this means that we will transform ourselves from a
single asset class company to a multi-asset class company. Today, investors are
more sophisticated and want to have a diversified portfolio at one place; now,
we will be able to provide that vertical integration. Furthermore, it is
important for us to be able to clear our own trades and control risk that way.”

firm says the first priority of its equities division will be to clear its
affiliate business from the PhillipCapital Group in Asia, followed by taking on
institutional clients in the US. 

Since its launch in
2010, Phillip Capital has increased its offerings from initially focusing on
clearing futures only to add retail forex exchange and now equities to its
lineup of approved asset classes. Phillip Capital is the first US foray for
the PhillipCapital Group, which is in 16 countries today.                                    Twitter:

Paul Gogliormella

Share This

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on reddit

Related Posts in