Originally incepted as a joint venture between Ong Commodities Pte. Ltd. and the First National Bank of Chicago (FNBC), under the name of Ong First Chicago Futures Pte. Ltd., we are a pioneer Clearing Member of the Singapore International Monetary Exchange (SIMEX), now known as SGX-DT. Through subsequent mergers, FNBC became Bank One.2005
In January 2005, Tradition Services Holdings SA, a wholly owned subsidiary of Swiss-listed Compagnie Financière Tradition (CFT) acquired G.K. Goh Holdings Limited’s 35% stake in Ong First Pte. Ltd. This new joint venture, renamed as Ong First Tradition Pte. Ltd. (“Ong First Tradition”), marks a major milestone in the pioneering heritage of Ong Commodities Pte. Ltd.2011
Ong First Tradition was admitted as one of the pioneer clearing members of the Singapore Mercantile Exchange (SMX). As a General Clearing Member (GCM) of the SMX, Ong First Tradition is able to clear and settle our own trades, as well as those of our regional and global customers, including any other GCM, Broker Member or Trade Member of the SMX.2013
Ong First Tradition Pte Ltd (“Ong First Tradition”) entered into a strategic investment agreement with KGI Securities Co. Ltd. (“KGI Securities”) on 25 November 2013. The combined companies will go forward together under the name KGI Ong Capital Pte. Ltd. (“KGI Ong Capital), incorporating the identities of two of the oldest names in the regional financial products and services industry.2014
KGI Securities (Singapore) Pte. Ltd. has received all regulatory approvals and the Merger and Acquisition with Ong First Tradition Pte. Ltd. was completed.