CEO Teyu Che Chern leads Phillip Futures’ rebrand to Phillip Nova – a one-stop solution for all investors
Before 2021 comes to an end, Phillip Futures will be gearing up for a rebrand. Equipped with a comprehensive suite of multiple asset classes across multiple exchanges, the company is ready to grab 2022 by the horns as Phillip Nova.
We sat down with Teyu Che Chern, CEO of Phillip Futures, for a chat on what investors can expect.
Driving long-term growth
Che Chern has always had his eyes set on growth. Since junior college, his interest had always been in the development of the financial sphere. He enjoyed analyzing trends and reading news on the economy to understand the mechanics of how global finance became moulded into the way it is. It was hence unsurprising that Che Chern, in his own words, “actualized (his) dreams in 1998” when he started as a management trainee with Phillip Capital. Three years later, he moved to Phillips Futures and has dedicated his time there ever since.
Che Chern’s focus on growth is not without reason. He notes that as the firm expands the quality and quantity of offerings, it is able to enter and gain a foothold in various markets across borders. When revenue increases, the company can advance quicker and better. When its people grow, the company becomes better equipped to do more. To Che Chern, growth represents a readiness to leverage on opportunities and overcome challenges.
Che Chern believes that growth is never a sprint, but a marathon. “It is not about a point in time, but over time.” When Phillip Futures first started, it grappled with the decision of winning big now or winning bigger later – to clinch immediate deals or to build a relationship and win in the long run. Relationship building came with costs and slower results. When Che Chern first started building a relationship with China before the market opened up in 2005, there were no immediate gains. However, the foresight to lay the groundwork allowed Phillip Futures to reap rewards quickly once the China market started opening up in 2008/2009.
Having a long-term approach to growth also means being prepared for black swan events, which Che Chern notes, is becoming more prevalent.
Tapping into an expanded client pool
When discussing the topic of investment, it is hard to not look at how the Coronavirus has affected global markets. Che Chern shares that many retail investors started or performed more online trades worldwide since the lockdown in 2020.
“The entire market pie has expanded. In fact, investors are starting their investment journey at a younger age, and many are keen on multiple assets across borders.” Che Chern said. This means that online trading needs to be accessible, and account opening needs to be quick. At Phillip Futures, opening an account takes only minutes, and investors can start trading within an hour.
Giving customers what they want
Che Chern believes strongly in listening to and giving customers what they want. Investors are more and more interested to invest across asset classes. “We want to be our investors’ one stop shop by providing an integrated platform with everything they need. Being in the forex business for a long time also means that we can value add by offering competitive currency conversion rates.”
With Phillip Futures’ established global network, Che Chern envisions the company to provide multiple asset classes across multiple exchanges. This includes providing trading access for non-securities investment products such as cryptocurrencies.
While getting its own securities license earlier this year is a major milestone, the work has just begun. Phillip Futures now offers Hong Kong, US and Singapore stocks for trading on top of other products, and is looking at adding more Asia exchanges by the end of 2021. “The securities license is our entry ticket into an even bigger and deeper ocean. This is another dimension of growth for us so that we can provide a full and comprehensive suite of global products for our investors, on top of our futures exchanges.” Che Chern said. Indeed, The Company has indeed stayed true to its tagline of ‘Bringing Global Markets Closer to You’.
Emphasizing financial literacy
A heightened interest in investing amidst the Coronavirus also meant an increased need for financial literacy. As more budding investors start researching on how to build their wealth, Che Chern cautions about unregulated financial content. Given the abundance of short-form finance content on social media, it is important for investors to check the content source and do their own due diligence. Some content may be speculations and clickbait stemming from unregulated sites, while others may be an inaccurate hyper-condensed version of complex topics.
Phillip Futures is a firm believer of providing financial education, and has worked with various course providers and exchanges to educate investors. It has also hosted various trading symposiums.
Rebranding to Phillip Nova
The current brand name, ‘Phillip Futures’, does not encapsulate all the firm’s offerings. Having built a strong track record in futures, forex and precious metals meant that moving on to provide equities was a natural progression and a timely decision. After all, the potential to create synergies and further value add.
Phillip Nova is the trading platform that Phillip Futures have developed three years ago. It is equipped with over 90 technical indicators, live charts and a Market Depth Trading Tool. Renaming the brand name from Phillip Futures into Phillip Nova signifies the firm’s commitment to developing the trading platform.
When asked why the name, ‘Nova’, was chosen, Che Chern said, “Nova represents a star emitting a bright light – which is aligned with the company’s aim of breaking into the equities market. The firm also has plans to unveil sub brands in future such as Nova Equities and Nova Futures, all of which will sit on a single platform.
Che Chern notes that managing risks and doing the right thing at the right time are crucial in scaling the company.
“Nowadays, it is not about if there is a black swan event, but what type of black swan event is coming up. We have had the asian financial crisis in the 1990s, the dot com bust and global financial crisis in the 2000s, as well as the Covid-19-triggered massive sell off. Even the price of oil became negative for the first time in history last year.”
Following the rebrand to Phillip Nova, the company will be even better prepared to tap on the opportunities that these challenges present.