Futu Involved Accounts Increase to 310, 8 Traders Profit Over $80 Million

Futu Clearing, a U.S. clearing entity under Futu Securities, and TradeUP, a U.S. brokerage entity under Interactive Brokers, have provided information on over 310 accounts suspected of participating in options insider trading to the plaintiffs in the related lawsuit. The number of involved accounts has increased from approximately 100 to 310. Preliminary analysis shows that only 8 traders profited over $80 million from the related trades, accounting for nearly 60% of the plaintiffs' estimated total illegal profits of $137 million. These traders are accused of making large purchases of short-term options related to Futu and Tiger Brokers before the regulatory authorities issued corrective documents to the brokerages. The related accounts have now been locked, and not all account holders have been formally named as defendants; participating in the related trades does not equate to being identified as engaging in insider trading. The case is still under further investigation and litigation.

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