CGS-CIMB Expands Its Private Market Products Through the Partnership with ADDX

Securities brokerage CGS-CIMB Singapore has switched on its connection to the private market exchange ADDX, giving all individual accredited investors on its platform access to ADDX's offerings.

Through the partnership, CGS-CIMB was able to expand its shelf of private market products considerably. The brokerage can now distribute to its high-net-worth clients a full suite of deals on ADDX, including private equity, private credit, venture capital, hedge funds, real estate, fixed income products like bonds and commercial papers, as well as structured products. Previously, CGS-CIMB was more focused on the public markets.

The partnership is part of a new service called ADDX Advantage that was rolled out earlier this year to serve wealth managers, which includes private banks, brokerages and external asset managers. By end-2023, ADDX aims to onboard as many as 10 wealth managers.

At the launch of ADDX Advantage in April 2022, CGS-CIMB was among the first to sign up for the service. Since then, the two companies have completed steps essential for the service to go live, including onboarding end-investors.

CGS-CIMB Managing Director and Group Head, Strategic Innovation Elgin Ting stated: "As part of our mission to provide clients with an extensive suite of financial services, CGS-CIMB is always scouting for new offerings that can add value to our investors' portfolios. Through our partnership with ADDX, CGS-CIMB's high-net-worth investors now have access to private markets and opportunities that were historically accessible only to institutional players. We are excited to see the technology and innovation ADDX is bringing to the financial markets and look forward to working with them."

"We have observed growth in investor awareness and appetite for private market products over the past two years," ADDX CEO Oi-Yee Choo said. "Our solution for wealth managers provides maximum flexibility, fulfilling the different needs wealth managers have, while empowering them to help their end-clients build diversified private market portfolios. Serving wealth managers will be a key pillar of growth for us in 2023. Our priority is to optimise the user experience for wealth managers, as well as to increase the breadth and depth of offerings on ADDX."