Robinhood Markets, Inc. HOOD intends to begin offering options trading to its U.K. clients in early 2025 as it continues to expand the features on its platform to cater to customers outside the United States. Jordan Sinclair, president of Robinhood UK, stated this in an interview with Yahoo Finance UK.
Rationale Behind HOOD’s Offering
On the third-quarter 2024 conference call, Robinhood announced receiving approval from the Financial Conduct Authority for offering options trading.
This will be the latest feature to be rolled out in the United Kingdom and was earlier available to U.S. investors. In March, HOOD introduced its trading platform in the United Kingdom.
Robinhood is also monitoring the situation regarding the cryptocurrency launch in the country. Sinclair stated, “I think in the UK recently there [have been] some really great steps in terms of a regulatory framework and published regulatory roadmap which is always a great place to start for the UK in the crypto environment. We'll continue to listen to our customers and there's some really great steps on the regulatory framework side.”
Robinhood has already launched other features in the United Kingdom. In October, the company started to roll out margin investing. In September, it introduced share lending. These moves align with the company’s strategy to expand its market share globally.
HOOD’s Zacks Rank & Price Performance
Year to date, HOOD shares have skyrocketed 194.3%, outperforming the industry’s 37.6% growth.
Image Source: Zacks Investment Research
Currently, Robinhood carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
International Expansion Plans of Other Finance Firms
Earlier this month, The Goldman Sachs Group, Inc. GS obtained regulatory approvals from the Beijing Bureau of China Securities Regulatory Commission to sell funds in China. This was first reported by Reuters.
The license was granted to GS’ China securities brokerage unit. This marks a significant step for the U.S. investment bank in China.
Last month, Barclays PLC BCS announced that it intends to establish a new Private Banking booking center in Singapore, expanding its presence in the Asian region. The center is anticipated to be operational by 2026 to serve the company’s private banking clients.
This move reinforces Barclays’ emphasis on Asia expansion as it continues to offer specialist investment, banking, lending and wealth advisory services to its ultra-high-net-worth clients and global family office clients.
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