Benzinga | Dec 19, 2021 09:26PM EST

Futu Acquired Australian Subsidiary That Holds Australian Financial Services License; Terms Not Disclosed

Futu Holdings Limited ("Futu" or the "Company") (NASDAQ:FUTU),a leading tech-driven online brokerage and wealth management platform, today announced that it had successfully acquired an Australian-based subsidiary, Futu Securities (Australia) Ltd. Futu Securities (Australia) Ltd holds an Australian Financial Services License (AFSL). The AFSL is a license granted and regulated by the Australian Securities and Investments Commission (ASIC).

The Company expects to use this license to provide online brokerage and other financial services in Australia. By leveraging its differentiated products and services, the Company is confident to tap into the huge market opportunity in Australia.