[FUTU Q&A] US stock trading turnover exceeds $100 billion: A even more promising 2021 for FUTU?
Keyaway：
• Q4 total revenue was US$153 million, a year-on-year increase of 282%, and it has achieved a rapid growth for four consecutive quarters;
• The trading volume of US stocks reached $101.1 billion, accounting for 65% of the total trading volume;
• The company officially entered the Singapore market in Q1 of 2021, and further enhanced its influence in the U.S. market.
• The trading volume of US stocks reached $101.1 billion, accounting for 65% of the total trading volume;
• The company officially entered the Singapore market in Q1 of 2021, and further enhanced its influence in the U.S. market.
Online brokerage and wealth management firm Futu Holdings Ltd. $Futu Holdings Ltd (FUTU.US)$ reported Q4 earnings surged 282% on huge revenue gains. Mr. Leaf Hua Li, Futu’s Chairman and Chief Executive Officer, said, “We are excited to announce that the robust growth momentum of our operating and financial metrics continued into the fourth quarter of 2020.” What else happened at the earnings call? Come and see!![]()
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This article is a script from the Q&A session of Futu Holdings Ltd. $Futu Holdings Ltd (FUTU.US)$ earnings call on March 16. In order to facilitate reading, we have made appropriate cuts. If you want to know more details, you can click the link provided below to re-watch the earnings call.
Q: What will be the launch time for the US self-clearing and according to our last earnings call? You mentioned this probably a $50 million pre-tax benefit from self-clearing, so when will we see the impact on the financial results.
A: In terms of self-clearing, actually we just start our initial migrations recently, just you know to overcome the first stop. But we do think this migration will take time, you will see meaningful progress in terms of operation numbers i.e. the client's assets and the bump -- the number of the clients from our counterparty in the US to our self-owned clearing house this year. In terms of the financial savings, it will not be too meaningful in terms of 2020 contributions. But definitely, you will see the benefits from the second half of next year. I know the strong momentum is also observed in the US market as well and in Mainland China and Hong Kong, I think the growth moment is strong as always. And we see that there is a very strong IPO pipeline to secure and if I remember correctly, in the first two months of this year, the total proceeds raised through Hong Kong IPOs totaled a little over HKD 70 billion.
![[FUTU Q&A] US stock trading turnover exceeds $100 billion: A even more promising 2021 for FUTU?](https://sgsnsimg.moomoo.com/1615983424518-600003-android-org.png/bigmoo)
Q: What is the current run rates of our new paying clients as in the first quarter and what is our expectation for the speed of customer acquisition in different regions over the year?
A: Year-to-date the numbers have been really strong, the paying client growth has been strong and it gave us ample confidence to give out this guidance of 300,000 net new paying client addition this year. I think we are well on track. And as we mentioned earlier, and on this 700,000 new paying clients, about 80% will come from Mainland China and Hong Kong and 20% will come from the US and Singapore. I think it's a little too early to give out a more detailed breakdown further down away I just mentioned. As we mentioned, in Singapore, we soft launched in February and we officially launched our business on March 8, you will see that we have really strong downloads and our business has been growing really strong and kind of exceeding our expectations. So we are very confident about our growth prospects in Singapore.![]()
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midknight : This is extremely good news. Extremely strong, I love it!
knic :
jrake : I feel more secure with my money
71615605 : Extremely good news! Holding and waiting for the stock to reflect the good news.
JUSTIN817 : Exciting news but just wonder why market go against it?
jhazzie : just wanna learn
treydongui : boy things are awfully easy to understand. That = GOOD EARNINGS HEHE JK. CONGRATS TEAM MOOMOO for making this product what it is. "Work your Moomoo Voodoo mojo" I can't wait until the day you make so much money that we can do the Oprah thing here like you get a car you get a car you get a car you get a car. coming soon right?