Toss Securities' U.S. grandchild company, TSAF (TSA Financial LLC), has obtained a broker license that allows it to intermediate trading of U.S. stocks.
According to the financial investment industry on August 3, TSAF acquired the relevant license from the Financial Industry Regulatory Authority (FINRA) on June 18. TSAF is also listed among the broker-dealer firms supervised by FINRA.
Previously, in August last year, Toss Securities established its U.S. subsidiary, Toss Securities Americas (hereafter TSA), and its grandchild company TSAF as local entities in the United States. TSAF, as a U.S. broker-dealer business entity, has been pursuing related business with the aim of strengthening Toss Securities' competitiveness in overseas stock trading.
With TSAF obtaining the license, Toss Securities is reportedly planning to directly intermediate U.S. stock trading as early as the second half of this year.
Meanwhile, in order to enhance transaction stability, Toss Securities plans to continue maintaining its existing entrusted trading contracts for overseas stocks with two local brokerages.
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