Economy

Futu sustains leading position by obtaining “BBB” credit rating from S&P, becoming first online brokerage in APAC with international rating

Futu sustains leading position by obtaining "BBB" credit rating from S&P, becoming first online brokerage in APAC with international rating

S&P expects that Futu will maintain its competitive position in the online brokerage industry and sustain its strong capitalization and adequate risk controls, along with business growth. Futu has thus become the first online brokerage in APAC to earn an international rating and the first Hong-Kong-based broker to obtain a standalone investment grade issuer rating.

Futu has a leading market position in Hong Kong as a retail-focused online broker and is well-positioned to take advantage of its strong brand recognition to expand into overseas markets, such as the U.S. and Singapore with its renowned app, moomoo. Since officially launching its business in Singapore on March 8, 2021, Futu has quickly become a highly recognized tech-driven online brokerage platform for local investors. It has secured more than 220,000 registered users and more than 100,000 paying clients in Singapore in less than three months.

Futu’s rating is well-positioned by its strong RAC (risk-adjusted capital), and S&P anticipates that Futu will sustain the capital adequacy to support its rapid growth.

 “We are thrilled that Futu has become the first Hong Kong-based brokerage to receive a standalone investment grade rating from S&P, which acknowledges our strong business development from the mainstream international rating agencies,” says Mr. Leaf Hua Li, Futu’s Founder, Chairman, CEO & Chairman of the Technology Committee. “This recognition enables Futu to lay a solid foundation on its bargaining power to reduce financing costs in international capital markets. Leveraging its cutting-edge technology, R&D capabilities and one-stop online service platform, Futubull and moomoo app, Futu has built a comprehensive and efficient risk control system, while bringing global investors a seamless and sophisticated product experience.”

Mr. Li adds, “Looking forward, Futu will continue to expand its client base, enrich its product portfolio and improve its tech-driven service capabilities, while maintaining its prudent risk management framework. Futu will also further develop its business in Hong Kong and steadily implement an international strategy in order to become a global financial service platform with significant influence.”

About Futu Holdings Limited

Futu Holdings Limited (“Futu”) (Nasdaq: FUTU) is an advanced technology company transforming the investing experience by offering a fully digitized brokerage and wealth management platform. Futu provides investing services – including stock trading and clearing, margin financing, wealth management, market data and information, and interactive social features for Hong Kong, US and China Connect stocks – to individual investors through its proprietary one-stop digital platforms, Futubull and moomoo. Futu also provides Employee Stock Ownership Plan (ESOP) solutions and IPO distribution services through its enterprise service brand FUTU I&E, with a focus on providing employee stock ownership plans to corporate clients.

Futu aims to become an influential financial services platform globally, by building a complete financial technology ecosystem with the mission of “making investment easier and not alone.”

About moomoo

Moomoo Inc. is an indirect wholly-owned subsidiary of Futu Holdings Ltd, which is an advanced technology company transforming the investing experience by offering a fully digitized trading and wealth management platform. Moomoo’s mission is to provide all levels of investors with an intuitive and powerful investing platform by using technology. We keep improving customer’s experience and driving industrial innovation backed by independent technological research and development (R&D) capabilities on the whole trading process and our creative internet operating model. Moomoo is a trading platform offered by Moomoo Inc. Investment products and services on moomoo are offered by but not limited to the following brokerage firms: Futu Inc. regulated by the U.S. Securities and Exchange Commission (SEC) and Futu Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS).

This article is shared with Prittle Prattle News in the form of a Press Release.

By Reporter

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