Fund-rich HK on­line bro­ker­age thinks big

China Daily (Hong Kong) - - BUSINESS - By DUAN TING tingduan@chi­nadai­

Startup Tiger Bro­kers, an on­line stock bro­ker­age based in Hong Kong, has said it will use its lat­est round of fi­nanc­ing to bol­ster its tech­ni­cal strength and prod­ucts.

Speak­ing at the Rise 2017 con­fer­ence in Hong Kong, its CEO Wu Tian­hua said the new in­vestors are guid­ing Tiger Bro­kers on con­tent, in­ter­na­tion­al­iza­tion and func­tional au­ton­omy.

The firm will host a global in­vest­ment fo­rum in the next two to three months. The next round of fundrais­ing will prob­a­bly be within the next 12 months, he said.

Founded in June 2014, Tiger Bro­kers has so far re­ceived over $400 mil­lion in fund­ing from more than 20 strate­gic in­vestors such as Xiaomi, Zhen­fund, China Growth Cap­i­tal and cel­e­brated Wall Street in­vest­ment guru Jim Rogers (who is bet­ting big on China’s fi­nan­cial tech­nol­ogy or fin­tech sec­tor).

Wu said Tiger’s younger in­vestors in US stocks fa­vor the TMT (tech­nol­ogy, me­dia and telecom­mu­ni­ca­tions) sec­tor and are will­ing to take risks in their global as­set al­lo­ca­tions.

Emerg­ing new-age tech com­pa­nies seek to list in the US, sug­gest­ing a fresh bull run may be in the mak­ing there.

How­ever, in China, in­vest­ment al­lo­ca­tions in the Chi­nese main­land are still rel­a­tively niche. But the sit­u­a­tion will im­prove with growth in the lo­cal TMT sec­tor, Wu said.

On­line bro­ker­ages such as Tiger use tech­nol­ogy to tackle chal­lenges re­lat­ing to cross­bor­der stock trad­ing, ac­count open­ing and lan­guage.

Cur­rently, on­line trad­ing in US stocks ac­counts for a ma­jor part com­pared to trad­ing in Hong Kong stocks and the A shares, he said.

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