Futu Holdings Limited (Futu), a leading tech-driven digital brokerage and wealth management platform, reported stable growth.
Approximately 90% of our newly acquired paying clients in the second quarter were from the United States, Hong Kong SAR, Singapore, and Australia markets, compared with 80% in the previous quarter. Our international expansion was sustained by catering unmet and diverse needs from global investors.
As of quarter end, Futu’s Hong Kong users accounted for more than 40% of Hong Kong’s adult population. Meanwhile, the number of Hong Kong paying clients continued to grow.
During the second quarter, an average Hong Kong user spent approximately half an hour on the Futubull app each trading day, with approximately 355,000 daily active users generating over 80,000 posts per trading day on Futubull’s interactive investor community.
Additionally, Futubull has become a popular platform for bond subscription in Hong Kong SAR. In April, more than 88,000 Hong Kong investors subscribed to the Green Bond issued by Hong Kong SAR government via Futubull, accounting for 18% of total valid applications.
In the first half of 2022, Futu provided IPO underwriting for 12 companies in Hong Kong SAR, ranking first among local securities firms. New IPO clients in the second quarter included Tianqi Lithium Corporation, Yunkang Group, Yoho Group, and GOGOX Holdings.
For the wealth management business, Abrdn started to provide model portfolio services on Futu’s platform with diversified asset allocation strategies in the second quarter, following BNY Mellon Investment Management, GaoTeng Global Asset Management and E Fund (HK), who launched these services in the previous quarter.
Moomoo Financial Singapore Pte. Ltd. (Moomoo Singapore) officially became the first digital brokerage to receive all five memberships from the Singapore Exchange for both the Securities and Derivatives markets, strengthening its leading position in the industry.
Moomoo offers some of the most innovative features for retail investors, including the cross-exchange comparison of execution prices, Level 2 quotes from market makers and ECNs, and extended trading hours from 4 am to 8 pm EDT. Moomoo endeavors to diminish the information gap between retail investors and institutional investors by providing market data and professional tools that were previously only available to institutional investors.
Moomoo integrates trading, market data, and social networking with advanced features, such as AI-powered analytics and anomaly detection functions. It supports free online account-opening and provides access to trade 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 over 18 million users in more than 200 countries globally.
Futu Holdings Limited 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.