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November 9, 2017

Charles Schwab opens office in Singapore

Charles Schwab, a New York-listed wealth manager and brokerage firm, has established an office in Singapore.

The new office will aim to offer Singapore and Asian investors greater access to the US markets. The firm said it aims to improve this access through its proprietary tools and competitive pricing.

The expansion follows a system integration and accounts migration in Singapore from optionsXpress, which is a derivatives trading platform purchased by Charles Schwab in 2011.

The Singapore office of the firm will be headed by managing director Greg Baker.

Commenting on the launch, Baker said: “The US is the largest, most liquid market in the world, and it gives you access to the some of the largest global companies across every industry sector. But, too often we find that investors do not sufficiently diversify their investments and their exposure to international markets is predominantly through foreign exchange (forex), when there is an opportunity to maximise their investment return by exploring other vehicles such as options, stocks and ETFs.”

“Also, what we mean by improving access is that one no longer needs to be a private banking client to access quality service and a comprehensive platform like this. We are also offering to investors in Singapore a simple fixed-fee structure with the most competitive pricing in the market. That is the core of our belief: there do not have to be trade-offs between quality research, price and customer experience, and that is why we are excited to bring this to the Singapore investors.”

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