Phillip Securities, the brokerage arm of PhillipCapital, launched the US Asian Hours on 19 July 2022, which facilitates the trading of 38 US-listed equities and exchange-traded funds (ETFs) during Asian market hours, through both the web trading platform of Phillip’s Online Electronic Mart System (POEMS) and the latest POEMS Mobile 3 App. With the launch, Phillip Securities will become the first brokerage firm in Asia to offer Market Making service for US equities and ETFs during Asian market hours.
The launch of the US Asian Hours represents an unprecedented development in the trading of US-listed stocks in Asia. From 19 July 2022, investors across Asia have the ability to make transactions from 9am to 5pm SGT through POEMS 2.0 web trading platform and POEMS Mobile 3, a significant departure from the current practice of night-time trading during US Pre-Market Hours and Regular Trading Hours (RTH). With US Asian Hours, clients on POEMS 2.0 web trading platform and POEMS Mobile 3 will be the first in Asia to have unparalleled access to trade US equities during Asian market hours and will be able to enjoy greater flexibility, convenience, and control in their trading and investment decisions.
Phillip Securities’ Executive Director in charge of this project, Mr Hitoshi Shimoyama, said “We are pleased to offer our clients an opportunity to trade US-listed equities and ETFs during the Asian time zones, through the US Asian Hours. We recognised the growing demand from Asian investors to trade US-listed equities and ETFs, and we have worked hard over the past few months to establish the US Asian Hours on POEMS 2.0 web trading platform and POEMS Mobile 3. Now, clients will have an earlier and longer trading window to make transactions, the opportunity to be more responsive to market movements, and have the peace of mind to have confirmation of their transactions during Singapore day-time hours, as well as the choice to sell on the US exchanges during the same-day Regular Trading Hours if they want to. This initiative is part of Phillip Securities’ endeavour to pre-empt the needs of our clients, and a testament to our capabilities to innovate and develop the relevant services for our clients.”
With the US Asian Hours service, seamless transactions between US Asian Hours, RTHs and US Pre-Market Trading will allow investors to leverage the first-mover advantage, by acting on any market-moving events that are outside of the RTH and US Pre-Market hours. To facilitate this, clients will be transacting with Phillip Securities as principal and the US Asian Hours will quote bid-offers via POEMS 2.0 web trading platform and POEMS Mobile 3, so that clients can make transactions with confidence in price security. The minimum size of transactions on the US Asian Hours will be USD 20,000.
As the pioneer online trading platform in Singapore, POEMS has been serving the investment community since 1996, and PhillipCapital continues to innovate and employ hi-tech and hi-touch solutions to serve the investing community. The launch of the US Asian Hours is part of PhillipCapital’s commitment to stay ahead of the curve and provide quality service for clients.
Singapore’s Helicap raises $5M from Tikehau Capital and PhillipCapital