moomoo’s Futu enters SGX’s securities and derivatives markets
Futu Singapore, a subsidiary of Nasdaq-listed Futu Holdings Limited, has joined Singapore Exchange (SGX) as a Trading Member of its securities market, a Clearing Member and Depository Agent of The Central Depository, as well as a Trading and Clearing Member of its derivatives market. The digital broker provides on-the-go trading and wealth management services via its […]
Futu Singapore, a subsidiary of Nasdaq-listed Futu Holdings Limited, has joined Singapore Exchange (SGX) as a Trading Member of its securities market, a Clearing Member and Depository Agent of The Central Depository, as well as a Trading and Clearing Member of its derivatives market.
The digital broker provides on-the-go trading and wealth management services via its investment super-app, moomoo. Its investing services include trading and clearing alongside interactive social features for investors through its proprietary platforms.
The addition of Futu Singapore brings a total of 27 Trading Members and 26 Clearing Members on SGX Group’s securities market, and 66 Trading Members and 27 Clearing Members on SGX’s derivatives market.
moomoo to increase retail participation in Singapore’s market
Pol de Win, Senior Managing Director, Head of Global Sales and Origination at SGX Group, said: “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.”
Leaf Hua Li, Chairman and CEO, Futu Holdings Limited, 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 for retail and institutional investor segments using 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.”
moomoo launched stock trading app in Australia
In March, Futu announced its expansion into Australia, offering online share trading to Australian investors via its mobile app, moomoo.
The product offering covers stocks and ETFs listed on Australian and US markets. Hong Kong SAR, Singapore, and China A-share markets will soon be added.
Moomoo features intelligent analysis tools, real-time in-depth market data, and financial information from leading media agencies such as Dow Jones and Benzinga.
In 2020, Australia had more than 9 million individual investors, according to an ASX investor research report, which added the number is expected to go beyond 10 million in 2022.
