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 May, G.K. Goh Holding Limited purchased Bank One’s 35% stake in Ong First Chicago Futures Pte. Ltd. and we were subsequently renamed as Ong First Pte. Ltd.
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.
Ong First Tradition embarked on an exciting re-branding initiative. The new streamlined logo symbolizes our identity as a progressive and dynamic futures broker keeping ahead of the changing financial landscape.
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.
Ong First Tradition will be celebrating its 28th anniversary on 10 October.