TORONTO - Moomoo, an international investment and trading platform, has solidified its collaboration with Nasdaq through a new Global Strategic Partnership, aiming to enhance investor education and market access. The agreement was formalized in Singapore on April 18, marking a continuation of a six-year alliance between the two entities.
The partnership is set to offer Canadian investors three months of complimentary access to Nasdaq TotalView® starting May 1, 2024, which provides in-depth level 2 premium real-time US stock quotes and market intelligence. This initiative is part of Moomoo's commitment to furnish investors with advanced tools and comprehensive data at competitive trading costs.
Since its Canadian launch in September 2023, Moomoo has quickly become a popular choice for Canadian investors, achieving the top rank among finance app downloads on Android in Canada. The platform allows trading in U.S. and Canadian markets from a single account, with fees reportedly up to 92% lower than those of its competitors.
Moomoo's platform also offers the "extended trading hours" feature, enabling users to trade US stocks and ETFs from 4 am to 8 pm, coupled with sophisticated technology for faster order execution.
Robin Xu, Senior Vice President of Futu Holdings (NASDAQ:FUTU), Moomoo's parent company, emphasized the platform's role in providing valuable data to retail investors from diverse backgrounds, reinforcing the value of their offerings. Brandon Tepper, Senior Vice President and Global Head of Data at Nasdaq, echoed the sentiment, highlighting the growing investor demand for transparency and U.S. market access.
The collaboration is expected to introduce more innovative educational initiatives and opportunities that empower investors globally.
Moomoo, a subsidiary of a Nasdaq-listed company, has earned multiple accolades for its inclusive approach to investing, including international awards from Benzinga and Fintech Breakthrough.
This news is based on a press release statement.
InvestingPro Insights
As Moomoo strengthens its ties with Nasdaq through a new Global Strategic Partnership, it is worth noting some key insights from InvestingPro that could be valuable to investors considering Nasdaq (NDAQ) in their portfolios. Nasdaq has demonstrated a commitment to shareholder returns, having raised its dividend for 12 consecutive years, which is a testament to its financial stability and investor-friendly policies. Additionally, the company has maintained dividend payments for 13 consecutive years, underscoring its consistency in rewarding shareholders.
In terms of financial health, Nasdaq shows robust fundamentals with a market capitalization of 34.93 billion USD, reflecting its significant presence in the market. The company's P/E ratio, as of Q4 2023, stands at 28.32, which might suggest a high earnings multiple when compared to industry averages. However, this could also indicate investor confidence in Nasdaq's future earnings potential. Moreover, with a gross profit margin of 64.23% for the same period, Nasdaq demonstrates strong profitability in its operations.
Investors should also be aware that analysts have revised their earnings upwards for the upcoming period, suggesting a positive outlook for Nasdaq's financial performance. While analysts anticipate a sales decline in the current year, they predict the company will remain profitable, which could be reassuring for those concerned about revenue trends.
For those interested in a deeper dive into Nasdaq's financial metrics and additional expert insights, InvestingPro offers more InvestingPro Tips that can further guide investment decisions. With the use of coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 9 additional InvestingPro Tips available at https://www.investing.com/pro/NDAQ, which can provide a comprehensive analysis of Nasdaq's financial health and market position.
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