Benzinga | May 10, 2021 05:10PM EDT

Futu Clearing Inc. Secures $400M to Expand US Operations

Today Futu Clearing Inc. announced it received a strategic capital injection in the amount of $400 million from its parent company, Futu Holdings, Ltd (NASDAQ:FUTU). As the backbone that facilitates trading of US equities for clients across the globe, Futu Clearing is one of the first recipients of Futu Holdings' strategic investments in international expansion.

"We are pleased with the injection of capital. As we seek to grow, this amount of funding allows us to expand our counterparty relationships in the industry, where the cost of capital makes it prohibitive for some members of the community to secure this level of funding," said Ila Jehl, CEO of Futu Clearing.