Phillip Capital Inc. becomes FINRA member, adds securities clearing to services


Phillip Capital Inc., a Chicago-based firm, which is part of the Singapore-based PhillipCapital Group, on Wednesday announced that it has become a Financial Industry Regulatory Authority (FINRA) member. As a result, Phillip Capital has expanded its financial services offering beyond futures and Forex to include self-clearing corporate equity and debt securities.

The company will settle securities transactions via the Depository Trust Clearing Company (DTCC). Phillip Capital is currently completing the final rounds of systems testing before launching its securities operations.

The first priority for Phillip Capital’s equities division will be to clear its affiliate business from the PhillipCapital Group in Asia, followed by taking on institutional clients in the United States. Since the start of its operations in 2010, Phillip Capital has bolstered its offerings from initially focusing on clearing futures to add retail Forex and now equities to its menu of approved asset classes. Phillip Capital is the first U.S. foray for the PhillipCapital Group, which is active in 16 countries today.

Lynette Lim, Co-CEO and Director of Phillip Capital, says,

“We’re thrilled to launch our broker-dealer operations. Expanding our product-line into securities is a huge milestone for Phillip Capital, because this means that we will transform ourselves from a single asset class company to a multi-asset class company. Today, investors are more sophisticated and want to have a diversified portfolio at one place; now, we will be able to provide that vertical integration. Furthermore, it is important for us to be able to clear our own trades and control risk that way.”

You can view the full press release from Phillip Capital by clicking here.

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Phillip Capital Inc. becomes FINRA member, adds securities clearing to services

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