Cheng Zhou's questions to Futu Holdings Ltd (FUTU) leadership • Q4 2024
Question
Cheng Zhou from UBS inquired about the Wealth Management business, asking about the total addressable market in Hong Kong and Singapore, competitive differentiation, and scalability. He also asked how the recent U.S. stock market correction impacted Q1 trading volume.
Answer
Chief Financial Officer Arthur Chen noted that recent market volatility actually inspired more trading activity, and overall Q1 trading volumes remained robust. Senior Vice President Robin Xu explained that Futu's Wealth Management differentiation comes from a seamless multi-asset platform experience and an open-platform model for structured products, which offers clients more choice compared to proprietary offerings from banks. He added that money market funds remain attractive and fixed-income products are well-positioned for a rate-cut cycle.