Doo Financial HK Limited, a subsidiary focused on providing CFDs for retail traders within the Doo Group, has successfully obtained a Type 1 (Dealing in Securities) License from the Hong Kong Securities and Futures Commission (SFC). This key authorisation empowers the firm to offer various securities trading services to regional clients.
Doo Financial Acquires Hong Kong SFC License To Trade Securities
The acquisition of the Type 1 license came after a thorough review of Doo Financial’s operational framework, financial health, corporate governance practices, and the qualifications of its team, highlighting the firm’s dedication to maintaining stringent compliance with regulatory standards.
Armed with this new license, Doo Financial HK Limited is now equipped to carry out a variety of securities-related transactions, including executing trades, distributing unit trusts and mutual funds, participating as a joint book-runner, and engaging in placement and underwriting activities.
“Doo Group views the Hong Kong market as a critical arena for its strategic growth, offering numerous opportunities,” remarked the company. This license marks a significant step in the company’s plans to diversify its financial service offerings and enhance client investment opportunities.
This development builds on Doo Financial HK Limited’s previous achievements, including securing Type 4 (Advising on Securities) and Type 9 (Asset Management) licenses from the SFC, which enabled the firm to provide investment advice and asset management services. Adding the Type 1 license further enriches the firm’s service portfolio.
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The announcement of the SFC license aligns with Doo Group’s recent expansion efforts, notably the inauguration of a new office in Dubai. This establishment aims to bolster the firm’s capabilities in digital technology, software development, and client support, catering to the increasing demands of its regional clientele.
Doo Group boasts a comprehensive global footprint, with operations in the United States, the United Kingdom, Cyprus, Egypt, South Africa, Seychelles, Mauritius, Hong Kong, Thailand, Malaysia, Singapore, Vanuatu, and Australia.
The firm’s trading platform has seen significant growth, with a trading volume of over $452.3 billion in the first half of 2023, marking a 39.4% year-over-year increase. Additionally, the number of active clients on Doo Group’s trading platforms has surged to more than 130,000 active clients.
