Phillip Futures, a member of PhillipCapital Group, has taken on a new name Phillip Nova with immediate effect, to reflect its expanded product offerings to include stocks trading.
PhillipCapital’s main operating unit, Phillip Securities, already offers stocks trading services. Phillip Futures, in contrast, was focused on futures, forex and CFDs. Phillip Futures received its own securities trading license last year.
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According to Phillip Future’s CEO Teyu Che Chern, the name change will signal the brokerage’s extensive suite of product offerings beyond derivatives and offer its client base more trading opportunities.
“Calling ourselves Phillip Nova allows us to work towards being a truly dynamic and innovative broker that provides our customers the variety of products and services that best suit their trading needs,” he adds.
According to Teyu, the word “nova”, which stems from the Latin word “novus”, means “new” and is “a name given to a star that beams with increasing brightness after a burst of energy”.
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“For us, the name Phillip Nova is a new identity and promises growth,” he adds.
With the rebranding as Phillip Nova, the brokerage now offers investors trading of five asset classes: stocks, futures, forex, commodities, CFDs, via two trading platforms: Phillip Nova and Phillip MetaTrader 5.