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Stock impact report

Futu Obtains Clearing License in the U.S.

Futu Holdings Limited (FHL)  More Company Research Source: GlobeNewswire
PDF HONG KONG, June 03, 2019 (GLOBE NEWSWIRE) -- Futu Holdings Limited (“Futu” or the “Company”) (NASDAQ: FHL), a leading tech-driven online brokerage platform in China, recently announced that its wholly-owned subsidiary in the U.S., Futu Clearing Inc., has been officially granted a clearing license by the United States Securities and Exchange Commission (“SEC”) and the Financial Industry Regulatory Authority (“FINRA”). To grant a clearing license, the SEC and FINRA conduct comprehensive evaluations of an applicant’s regulatory compliance, research and development capabilities, financial strength and a number of other performances to ensure that such applicant meets the required standards. Only a very small number of applicants in the U.S. have obtained a clearing license. With the clearing license and Futu’s proprietary clearing system, the Company will be able to provide clearing, settlement and asset custody services to customers and other introducing brokers in the U.S, which will [Read more]
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