Futu Securities (Singapore) becomes the first technology brokerage to obtain full membership qualifications from the SGX.

As an important financial center in Southeast Asia and even globally, Singapore has become a stepping stone for many Chinese enterprises to go global. As one of the representatives, Futu has achieved another important milestone after more than a year of entering the Singapore market—it's subsidiary, Futu Securities (Singapore) (Futu Singapore Pte. Ltd.), held a bell-ringing ceremony on June 30th at the opening of the Singapore Exchange Group (referred to as 'SGX'), becoming the first technology brokerage to obtain all member qualifications of the Singapore Exchange.

SGX Chief Executive Officer, Loh Boon Chye, Senior Partner and Senior Vice President of Futu Holdings, Robin Xu, CEO of Futu Securities (Singapore), Mak Loh Yen, General Manager of Futu Securities (Singapore), Xie Ruiye, and other representatives from SGX and Futu Securities (Singapore) conducted the bell-ringing ceremony at SGX this morning.

According to the introduction, Futu Securities (Singapore) has previously received the provisional approval of the Singapore Exchange for all member qualifications, and with this formal acquisition of the Singapore Exchange's full membership qualifications, Futu Securities (Singapore) becomes the first technology brokerage to obtain all member qualifications of the Singapore Exchange.

This time, Futu Securities (Singapore) has officially obtained the following membership qualifications: Trading Member of Singapore Exchange Securities Trading Limited and Singapore Exchange Derivatives Trading Limited, Clearing Member of The Central Depository (Pte) Limited, and Singapore Exchange Derivatives Clearing Limited.

Robin Xu, founder, chairman, CEO, and chairman of the technology committee of Futu Holdings Ltd, stated: "Obtaining the full membership qualifications of the SGX is an important milestone for Futu. Today's bell-ringing ceremony represents Futu as one of the most trusted financial technology platforms in the region, opening a new chapter in investment and wealth management for retail and institutional investors in Singapore. It also reflects Futu's leading service and trading capabilities, which are crucial for enhancing customer experience."

Pol de Win, Deputy CEO and Head of Global Business Development at the SGX, said: "We are honored to welcome Futu Securities (Singapore) as the first trading and clearing member eligible for securities and derivatives markets of the SGX Group. We are bullish about the positive impact of Futu Securities (Singapore) and other subsidiaries of Futu Holdings Ltd on increasing retail customer participation in the Singapore market. We look forward to further deepening cooperation with Futu Securities (Singapore) to meet the growing retail and institutional demand in the region for SGX group investment and risk management products."

Leaf Li, Senior Partner and Senior Vice President of Futu, also mentioned in his speech: "Obtaining the full membership qualifications of the SGX means that Futu can not only independently clear in Singapore but also synergize with other subsidiaries of Futu, allowing more investors to trade SGX products more conveniently and at lower costs. At the same time, Futu will fully leverage the advantages of the SGX full membership to actively expand institutional business and inject more vitality into the capital markets in Singapore."

As an important stop in internationalization, Futu's development in Singapore is also progressing rapidly. As of June this year, moomoo's user base in Singapore accounts for over 21.5% of the local population aged 20 to 70.

In Singapore, Futu not only rapidly advances traditional brokerage business but also continuously shines in wealth management and corporate services.

In the field of wealth management, Futu has fully expanded its fund product line in the Singapore market this year, supporting various types of funds such as MMFs, SGD funds, dividend funds, providing local investors with more wealth management options. By the end of the first quarter of 2022, Futu Wealth Management's AUM and number of holders in Singapore increased by 93% and 95% respectively over the previous quarter, and formed cooperative relationships with 26 globally renowned financial institutions in the local area.

In the corporate services business targeting the B-end market, Futu is also flexing its muscles in Singapore, participating in multiple projects. In just the first quarter of this year, Futu, commissioned by Nikko AM, participated in the issuance of the ETF product - the Nikko AM-Straits Trading MSCI China Electric Vehicles And Future Mobility ETF, with Futu's client subscription amount ranking first among all new Singapore retail institutions.