Futu Singapore is the first digital brokerage to receive full memberships from SGX Group & More News Here

Every 1 out of 5 adults between 20 to 70 in Singapore is moomoo’s person

SINGAPORE, June 30, 2022 /PRNewswire/ — Singapore Exchange (SGX Group) at the moment welcomed Futu Singapore Pte. Ltd. (“Futu SG (moomoo)”), a subsidiary of Nasdaq-listed and Tencent-backed Futu Holdings (Nasdaq: FUTU), to strike the gong at market open to rejoice Futu SG (moomoo) as the first full-service digital brokerage in Singapore.

Futu SG (moomoo) is admitted as a Trading and Clearing Member of Singapore Exchange Derivatives Trading Limited and Trading Member of Singapore Exchange Securities Trading Limited. In addition, it can maintain a clearing membership with SGX Group’s subsidiary, The Central Depository (Pte) Limited, in addition to changing into a depository agent of the monetary establishment. Futu SG (moomoo) is now one in every of the twelve SGX Group’s members with full memberships throughout securities and derivatives markets.

In honour of the event, SGX Group CEO Mr. Loh Boon Chye, Futu Holdings Senior Partner and Senior Vice President Mr. Robin Xu, Futu SG (moomoo) CEO Mr. Ivan Mok and Managing Director Mr. Gavin Chia and different members of SGX Group and Futu SG (moomoo) struck the gong at SGX Group’s IPO Arena on Thursday, 30 June 2022 at market open.

Mr. Leaf Hua Li, Futu’s Chairman and CEO commented: ” Receiving all the memberships from SGX Group is a significant milestone for our company as we move toward strengthening our market leading position as a trusted, reliable, stable full-service investment and wealth management super-app, and as the go-to partner for comprehensive financial inclusion and financial literacy. Striking the gong today is representative of a new phase of growth in the retail and institutional investor segments for Futu SG (moomoo), where being one of the most trusted and credible financial technology platforms in Singapore and beyond is critical in shaping our service and trading capabilities that are of value to our customers.”

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Pol de Win, Senior Managing Director, Head of Global Sales and Origination, SGX Group, stated, “We are pleased to welcome Futu Singapore as the first digital broker to receive full trading and clearing memberships of our securities and derivatives markets. Futu Singapore is primed to play a prominent role in increasing retail participation in Singapore’s market, with millions of users worldwide across Futu Holdings’ investment platforms. We look forward to strengthening our partnership with Futu Singapore to serve the growing retail and institutional demand for SGX Group’s investment and risk management products across the region.”

With the full memberships, we will likely be ready to execute and settle transactions by way of our clearing system, strengthening the synergy with different Futu’s subsidiaries. Owing to this, we count on to see an increase in retail participation throughout all Futu’s shoppers on the SGX market, and for us to turn into an funding platform that connects SGX to world traders.

This feat comes as the variety of Futu SG (moomoo) customers in Singapore exceeds 21.5% of the inhabitants aged 20 to 70 in June 2022, implied each 1 out of 5 adults in Singapore is moomoo’s person with the Singapore market changing into the second-largest buying and selling marketplace for Singapore shoppers.

With at the moment’s historic milestone, Futu SG (moomoo) cements itself as a powerful companion to monetary establishments, particularly to these trying to increase capital for preliminary public providing (IPO) listings in Singapore and promote the top-class funding decisions on the SGX to over 18 million of Futu’s customers globally.

About Futu Singapore Pte. Ltd.

Futu Singapore Pte. Ltd. (Futu SG) is a wholly-owned subsidiary of Futu Holdings Limited (NASDAQ: FUTU), which is a sophisticated monetary know-how firm remodeling the investing expertise by providing a digitised brokerage and wealth administration platform. Futu enhances the person expertise with market knowledge, information, and highly effective analytical instruments. Futu additionally embeds social media instruments to present connectivity to all customers, traders, firms, analysts, media and key opinion leaders.

In Singapore, Futu Singapore Pte. Ltd. (www.futusg.com) provides funding merchandise for buying and selling by way of the moomoo platform, and it is a capital markets companies license regulated by the Monetary Authority of Singapore (Licence No. CMS101000).

 

 

SOURCE Futu Singapore Pte. Ltd.

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