It is understood that the new version of cash plus has been launched in tiger trade v6.8.2. This function connects tiger securities stock account, and stock account funds can be transferred to idle money steward with one key to realize seamless connection between stock investment and cash management. In terms of fees, cashplus still does not charge transfer in fees and ordinary transfer out fees, but only charges a low rate of 0.05% on the quick transfer out function. In addition, according to the above person in charge, after this revision, idle money Steward will expand from previously mainly investing in dollar denominated assets to different valuation assets around the world, mainly including deposits, treasury bonds and other asset categories with stable returns, good security and high liquidity.
Since its launch last year, idle money Butler has been praised by many users because it meets the needs of users idle funds and cash management, and the number of new users increases steadily every week. During the epidemic in the first quarter of this year, with the advantages of stable income and good liquidity, the number of new users increased nearly 10 times compared with the fourth quarter of last year. For tiger, to build a one-stop overseas investment platform service for users has always been our goal. The launch of idle money steward is also to start from the most basic and rigid needs of customer wealth management and asset management, to provide convenience for investors, to help them improve the utilization rate of capital and diversification of investment income. Tiger securities related person in charge pointed out.
In fact, idle money steward is only a part of tiger securities wealth management business layout. As early as the end of 2018, tiger securities issued tttn, the worlds first ETF product that simultaneously tracks Internet giants in China and the United States, to test the field of wealth management. Since the beginning of the year, tttn has greatly outperformed the S & P 500 ETF. As of June 18 this year, the net value of tttn fund has gained 20.32%, while the S & P 500 ETF (spy) has lost 2.54% in the same period. In 2020, tiger securities announced to officially enter the wealth management business. In addition to idle money manager, tiger securities also launched fund supermarket, which currently includes nearly 100 well-known public fund products in the world, including monetary fund, bond fund and stock fund, to meet the diversified asset allocation needs. In addition to stocks, the increase of other investment categories indicates that tiger securities has gradually approached the integrated account system of the most trading varieties and the most markets. The growing abundance of business lines not only helps tiger securities to enhance customer stickiness, but also enriches the revenue sources of tiger securities.
It is reported that tiger securities is on the sixth anniversary of its establishment at the time of upgrading the idle money steward. The Internet securities firm, which focuses on technology enabled finance, mainly provides securities brokerage and value-added services for individual investors and institutions in major global markets such as US stocks, Hong Kong stocks, a shares (Shanghai Hong Kong stock connect / Shenzhen Hong Kong stock connect), British stocks, etc. On the tob side, tiger securities started to launch investment banking and ESOP business since the end of 2017, and quickly became a partner of many new economy enterprises. At present, tiger securities has obtained 21 securities licenses or qualifications in the United States, Singapore, New Zealand, Australia and other countries and regions, and the commercial territory of full-service internet securities companies has begun to take shape. In March last year, tiger securities was listed on NASDAQ with the stock code of TIGR.