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.
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., marked a major milestone in the pioneering heritage of Ong Commodities Pte. Ltd.
Ong First Tradition Pte. Ltd. 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 Pte. Ltd. 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.
Ong First Tradition Pte. Ltd. entered a strategic investment agreement with KGI Securities Co. Ltd. (through KGI (Asia) Holdings Pte. Ltd.) on 25 November 2013. The combined companies will go forward together under the name KGI Ong Capital Pte. Ltd., incorporating the identities of two of the oldest names in the regional financial products and services industry.
KGI Securities Co. Ltd (Taiwan)’s operations in Singapore, namely KGI Securities (Singapore) Pte. Ltd. (formerly called KGI Fraser Securities Pte. Ltd.) and KGI Futures (Singapore) Pte. Ltd. (formerly called KGI Ong Capital Pte. Ltd.) are amalgamated into a single entity with KGI Securities (Singapore) Pte. Ltd. as the operating entity. The amalgamation of the Singapore entities taps on the cooperative synergies of both companies and offer a one-stop service to our clients in Asia.