Mirae Asset Securities subsidiary now trading member of Singapore Exchange

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Mirae Asset Securities subsidiary now trading member of Singapore Exchange

Published: 10 May. 2023, 17:29

Mirae Asset Securities' headquarters in Jung District, central Seoul [MIRAE ASSET SECURITIES]

Mirae Asset Securities’ Singaporean subsidiary became a securities trading member of the Singapore Exchange (SGX), the company said Wednesday.

This is the first time for a Korean financial firm to join as a securities trading member of the SGX.

With the addition of Mirae Asset Securities, the SGX's total number of trading members reached 28, which includes global investment banks like Citigroup, HSBC and Goldman Sachs.

By gaining the membership, Mirae Asset Securities is now eligible to offer trading services with local financial products at the SGX.

The total market capitalization of 705 companies listed on the SGX reached $700 billion as of December last year, according to Mirae Asset Securities.

“By obtaining the trading membership at the SGX, we will be able to establish a higher level of trust in the industry as a global investment bank,” Seong Jun-yeop, CEO of Mirae Asset Securities Singapore, said.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]