abstrak：Futu Holdings Limited, popular China-based online security and wealth management platform, is located in Singapore.
The broker provides trading, clearing, and investment services in Singapore
Futu Holdings Limited, popular China-based online security and wealth management platform, is located in Singapore. Announced Futu Singapore Pte, a subsidiary of Futu Singapore Pte. Ltd. is a Principle (AIP) to act as a depository for Central Depository (Pte) Limited (CDP), a trading member of the Singapore Exchange Limited (SGXST) and Singapore Exchange Derivatives Exchange (SGXDT). Approved. Clearing member of The Central Depository (Pte) Limited (CDP), Singapore Exchange Securities Clearing Limited (SGXSC), Singapore Exchange Derivatives Clearing Limited (SGXDC). Futu Singapore also announced that it has been granted Exempt Financial Advisor (EFA) status by the Monetary Authority of Singapore (MAS). It's been less than a year since the
AIP entered the Singapore market. Therefore, with this announcement, Futu Singapore will be the first online broker through the trading platform Moomoo, with full trading of derivatives and securities in Singapore and approval of clearing members. This membership gives the company easy access to SGX's investment and risk management solutions and the international investor pool of local stock exchange operators. Such membership also improves the efficiency and security of executing transactions on the Moomoo platform and supports multiple high-speed transactions.
With the official approval of the above membership, Futu Singapore will provide relevant trading, clearing, and investment advisory services in Singapore. The announcement aims to further strengthen its presence in the Singapore market by enabling the company to take advantage of its products and services.
Gavin Chia, Managing Director of Futu Singapore, said receiving an AIP is a “vote of trust” for the company's business strategy and vision. “Since entering the Singapore market, we have fully understood the problems of private and institutional investors and have promised to provide a better investment experience from there,” he said. He said it would further strengthen FUTU's business needs.
In November 2020, Futu Holdings reported a significant growth in all major sectors. This year, the company contributed to this remarkable growth with a 136% year-on-year increase in customer numbers.
In December last year, Futu acquired the Australia-based subsidiary Futu Securities and launched online securities and other financial services in Australia. The platform has also been launched in the United States and Singapore. In March last year, Futu launched moomoo in Singapore as its regional headquarters to better serve the Southeast Asia region. Also, in May last year, Futu injected a $400m strategic funding to ramp up its operational needs, including clearing and deposits, supporting margin accounts.
