SINGAPORE, July 12, 2022 /PRNewswire/ -- Longbridge Group, a Singapore FinTech Group, announces that its subsidiary LONG BRIDGE SECURITIES PTE. LTD. has been granted a Capital Markets Services (CMS) licence by the Monetary Authority of Singapore (MAS) to engage in dealing with capital markets products, product financing, and providing custodial services activities.
Founded in Singapore in 2019, Longbridge Group is committed to offering global services on securities brokerage (Longbridge app), content and community, wealth management, and online stock trading SaaS solutions (Longbridge Whale). Numerous renowned and established institutional investors have made strategic investments in the Group. Longbridge has offices in nine locations around the world, including Singapore, New Zealand, the United States, mainland China, and Hong Kong. Experts from global technology giants, such as Alibaba and Bytedance, as well as professionals from sizeable Hong Kong and Singapore financial institutions comprise the core founding team.
In October 2021, as the official first step of its retail operations shifting its gear towards globalisation, the Group launched its online stock trading app in Hong Kong with Long Bridge HK Limited (CE No.: BPX066), a holder of Type 1, 4, and 9 regulated activities licences granted by the Securities & Futures Commission Hong Kong (SFC).
The Longbridge app is dedicated to providing an ideal trading platform to help investors realise their "Discovery, Learning, and Trading" investment journey, and is well-known for its stock analysis toolbox, as well as its minimalist and elegant product design. Its exclusive function, Overview, offers investors expert and easy-to-understand analysis tools and graphs that can be accessed with a single click.
Becoming highly sought-after among local users and through a series of dynamic campaigns, the app has seen more than 1 million installs and has soared to the Top 10 in the Hong Kong App Store's Top Finance Free Apps chart in the first 48 days.
Longbridge leverages cutting-edge FinTech to offer investors a secure and streamlined trading environment. R&D personnel make up 80% of Longbridge's workforce. Longbridge Technology, Longbridge's Fintech subsidiary, developed the first cloud native trading application with the in-memory database (IMDB) and multi-site high availability (MSHA) features from the securities broking industry. Providing ultimate user experiences, the cloud native app allows the behind-the-scene developers to swiftly iterate updates based on user feedback and allows the working application version to match end-user expectations as closely as possible. The Longbridge app has undergone more than 100 iterations since its initial release.
As of June 2022, the ultra low-latency systems implemented upgrades to stock quote and order placement features. Currently, the US stock quote has latencies of under 100 milliseconds while the Hong Kong stock quote comes with end-to-end latencies of under 20 milliseconds. Through the Longbridge app, orders can be successfully placed with latencies of less than 10 milliseconds at the soonest. The Longbridge app provides authentic real-time trading at an industry-leading speed.
Ms. Gillian Li, CEO of Longbridge Securities Singapore, stated, "As the unrivalled financial hub in Southeast Asia, Singapore has a thriving market that is also regarded as one of the most competitive markets globally. We are delighted to have received the CMS licence from the MAS, which is a glorious milestone for the Group's global online brokerage operations. At the same time, we look forward to launching our application in the coming months to provide Singapore investors with secure, rich, stable and efficient global investment experiences, as well as breakthroughs in meeting unsatisfied demands, which is what we believe the market and users are seeking."
Founded in March 2019 in Singapore, Longbridge is a FinTech Group that has received strategic investments from numerous renowned and established institutions and individuals. Its core founding team hails from top-tier international technology giants such as Alibaba and ByteDance and is augmented by outstanding finance professionals.
Long Bridge Securities Pte. Ltd. is a capital markets services licence holder regulated by the Monetary Authority of Singapore (Licence No. CMS101211). For further information on Long Bridge Securities Pte. Ltd., Please refer to the https://eservices.mas.gov.sg/fid/institution/detail/246919-LONG-BRIDGE-SECURITIES-PTE-LTD