PALO
ALTO, Calif., July 28,
2022 /PRNewswire/ -- Moomoo's parent company
Futu Holdings Limited (Nasdaq: FUTU, "Futu"), a leading
tech-driven online brokerage and wealth management platform,
announced that its long-term issuer credit rating "BBB-" has been
reaffirmed with a stable outlook by major global rating agency
Standard & Poor's (S&P). Meanwhile, S&P also maintained
Futu's "bbb" GCP (group credit profile) rating.
Last year, Futu was granted a BBB- long-term issuer credit
rating by S&P, marking the first Hong
Kong brokerage to independently receive BBB- rating from
S&P.
Being one of the three major global rating agencies, S&P
offers third-party forward looking opinions about a company's
relative creditworthiness ranging from AAA to D. Companies
rated BBB- or higher by S&P are considered
investment-grade, and are believed to have adequate capacity to
meet financial commitments and relatively low credit risk.
In its recent report, S&P highlighted Futu's very strong
capitalization, adequate risk controls and expansion strategy on
international market, and it expected Futu to maintain the risk
appetite, underwriting standards and good loan quality while
expanding the business scope and international outreach over the
next 24 months.
S&P also underscored Futu's satisfactory share of about 3%
of Hong Kong's fragmented
brokerage market, and its improvements on the diversification of
its product offerings and geographic reach. S&P believed that
Futu has started to diversify its funding structure and liquidity
sources in recent years.
S&P commented in the report that internationalization will
be the main strategy for Futu in the next two to three years, as
the company is looking to expand the presence in Hong Kong SAR, the
U.S., Singapore, Australia and potentially other new markets.
As of the end of first quarter, Futu recorded more than 80% of its
newly acquired paying clients from Hong Kong SAR, the United States, Singapore and other international markets in
first quarter this year.
Having established its presence in Hong Kong in 2012, Futu has led the way in the
local brokerage industry for almost ten years and its app Futubull
is now a household name in Hong
Kong. Futu's registered Hong
Kong users number accounted for approximately one third of
Hong Kong adults' population.
Since July 2020, Futu had become
the first retail brokerage included in Category A Stock Exchange
Participants by the Hong Kong Exchange, ranking among top 14
brokerage houses together with other top tier global investment
banks, in terms of market shares in Hong
Kong.
Since Futu made its debut in Singapore last year, its flagship app
moomoo has quickly become a technology brokerage platform
recognized by local investors. As of June
2022, the number of Futu's Singapore users accounted for more than 20% of
the Singapore's population aged
between 20 to 70. In June 2022,
Moomoo Financial Singapore Pte. Ltd officially became the first
digital brokerage to receive full memberships from Singapore
Exchange, strengthening its leading position in the industry.
In the U.S. market, moomoo continues to gain interest from
traders who seek better tools to trade like a pro. With strong
technology supports, moomoo provides investors with seamless
trading experience, timely financial information, and powerful
investment analysis tools that used to be available only to
institutional investors.
Moomoo also announced its official launch in Australia in March
2022, providing trading access of stocks and ETFs listed in
the U.S. and Australia to
Australian investors. Moomoo is rapidly expanding its presence in
Australia by sharing investing
knowledge and market insights in financial forums and events,
putting responsible investing into practice.
Apart from brokerage business, Futu sharpens edges of its
product diversification. In terms of enterprise service business,
Futu had 258 IPO and IR clients as well as 459 ESOP clients by the
end of first quarter, climbing up 69.7% and 129.5% YoY,
respectively.
Additionally, Futu Money Plus has partnered with 64 world's
well-known financial institutions to offer wealth management
services, including five new partners - Wellington Investment,
Fullerton Fund Management, Lion Global Investors, Nikko Asset
Management and UOB Asset Management in first quarter. According to
its first quarter earnings report, the total client assets amount
reached HK$20.9 billion ($2.7 billion), an increase of 59.1% YoY.
About Futu Holdings Limited
Futu Holdings Limited (Nasdaq: FUTU) is an advanced technology
company transforming the investing experience by offering a fully
digitalized brokerage and wealth management platform. The Company
primarily serves the emerging affluent population, pursuing a
massive opportunity to facilitate a once-in-a-generation shift in
the wealth management industry and build a digital gateway into
broader financial services. The Company provides investing services
through its proprietary digital platforms, Futubull and
moomoo, each a highly integrated application accessible
through any mobile device, tablet or desktop. The Company's primary
fee-generating services include trade execution – which allows its
clients to trade securities, such as stocks, ETFs, warrants,
options and futures across different markets – as well as margin
financing and securities lending. Futu has also embedded social
media tools to create a network centered around its users and
provide connectivity to users, investors, companies, analysts,
media and key opinion leaders.
About moomoo
Moomoo is a next-generation one-stop digital financial service
platform created by Moomoo Technologies Inc., a fintech company
based in Palo Alto, California.
Moomoo integrates trading, market data, social networking with
advanced features, such as AI-powered analytics and anomaly
detection functions. It supports free online account-opening and
provides access to the trading of stocks and ETFs in multiple
global markets such as the United
States, Hong Kong SAR, Singapore, and Australia.
Moomoo and its brand affiliates also offer rich investor education
content and an interactive online community with 18 million users
in more than 200 countries globally.
Moomoo's parent company is the Nasdaq-listed fintech company
Futu Holdings Limited ("Futu"), which is headquartered in Hong
Kong. Futu's subsidiary is also one of the largest brokerages
in Hong Kong. On March 8, 2019, Futu was listed on the
Nasdaq (symbol: FUTU).
For more information, please visit the moomoo official website
at www.moomoo.com.
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SOURCE moomoo Inc.