"One senior who worked in a brokerage firm not happy with new tech brokerage firm." Thats what I see lol.
What was the whole point of the article?

funny , china main land why use taiwan traditional chinese.

他續指，內地今年以來反覆強調要加強金融領域的開放，認為當局沒必要「反其道而行」。

Companies & Markets
Futu becomes first online brokerage to receive approvals-in-principle for all SGX memberships
Megan Cheah
387 words
10 February 2022
Business Times Singapore
STBT
English
© 2022 SPH Media Limited

DIGITAL brokerage Futu Singapore, a wholly-owned subsidiary of Nasdaq-listed Futu Holdings, has received approvals-in-principle (AIP) for all Singapore Exchange (SGX) memberships, the company announced in a press statement on Thursday (Feb 10).

This makes it the first online brokerage, through its trading platform Moomoo, to receive AIPs for full trading and clearing memberships for securities and derivatives in Singapore.

With these AIPs, Futu Singapore, which is a capital markets services licence holder regulated by the Monetary Authority of Singapore (MAS), will be admitted as a clearing and trading member of both SGX Securities Trading and SGX Derivatives Trading.

In addition, it will hold clearing membership in SGX subsidiary The Central Depository, as well as become a depository agent of the financial institution.

Through the memberships, Futu Singapore will have better access to SGX's investment and risk management solutions, the press statement added. It will also be able to tap onto the local bourse operator's pool of international investors.

These memberships will enhance security and efficiency for the execution of trades on its Moomoo platform, supporting multiple fast transactions.

Gavin Chia, managing director of Futu Singapore, said the AIPs, which come less than a year since it entered the Singapore market, is a "vote of confidence" in the company's business strategy and vision.

"Since we entered the Singapore market, we have been committed to deeply understand the pain points of retail and institutional investors, and from there, provide them with better investment experiences," he added, noting that the AIPs will further strengthen Futu's business imperatives.

Separately, Futu Singapore has received approval from MAS to start its business as an exempt financial advisor, providing financial advisory services on investment products and promoting analyses and reports on them.

The platform had achieved over 220,000 users in Singapore within 3 months of its launch in March 2021.

Its parent company, Hong Kong-based Futu Holdings, is backed by Chinese conglomerate Tencent and has 17 million users globally, through its presence in Singapore, US, Australia and Hong Kong.

SPH Media Limited

MooMoo is the first? Didnt Tiger already announced theirs a few months back or something?

Futu is coming to HK for a secondary listing.

https://finance.mingpao.com/fin/daily/20221...%a5%a8%e6%ac%8a

https://finance.mingpao.com/fin/daily/20221...%88%b6%e8%a1%8c

--------------------------------

Official HKEX announcement: https://www1.hkexnews.hk/listedco/listconew...22122200029.pdf

Listing documents:

(PDF)

https://www1.hkexnews.hk/listedco/listconew...22122200045.pdf

(HTML, 2 links)

https://www1.hkexnews.hk/listedco/listconew...22122200080.htm

https://www1.hkexnews.hk/listedco/listconew...22122200150.htm

Source: https://www1.hkexnews.hk/search/titlesearch.xhtml (search for "Futu-W")

Futu and Tiger "reprimanded" by Chinese authorities for "operating illegal cross-border securities business".

https://finance.mingpao.com/fin/daily/20230...%8f%97%e5%a3%93

Both stocks dropped about 30% last Friday.