Date : 30-Oct-2020
Location: Kuala Lumpur
Organization:
Bursa, operates and regulates a fully-integrated exchange offering a comprehensive range of exchange-related facilities, and is committed to Creating Opportunities, Growing Value.
Key Takeaways:
- Bursa Malaysia will co-organize a hackathon with CGS-CIMB Securities, themed InvestHack, to seek new ideas from the developers community globally, to meet the changing landscape of digital transformation that has transpired as a result of Covid-19 pandemic.
- Other co-organizers are JOMHack, Malaysia Digital Economy Corporation (MDEC) and the Malaysian Global Innovation & Creative Centre (MAGIC).
Offering:
Check out InvestHack 2020:
- Registration for InvestHack is free and will offer a total cash prize of RM35,000.
- Each team must come up with an innovative solution to any one of the four problem statements below:
- Option 1: Attracting more Malaysian retail investors to share investment in the stock market
- Option 2: Improving financial literacy among Malaysian retail investors
- Option 3: Assist Malaysian retail investors to overcome herd behaviour when investing in the stock market
- Option 4: Addressing the commonly asked question: “Do you have any stock tips?”
- The 3-day virtual hackathon will be conducted via an interactive platform.
- Registration is opened since 26-Oct-2020 until 15-Nov-2020.
- A team-based competition - each team must have between a minimum of 3 to a maximum of 5 members, with at least 1 coder.
- To learn more about the Terms & Conditions, please go to https://www.bursamarketplace.com/investhack-2020/assets/hack_doc/investhack-tnc.pdf
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| Bursa InvestHack 2020, 3-day Virtual Hackathon, 48 Hours Non-Stop |
Spokepersons:
- Datuk Muhamad Umar Swift, CEO of Bursa,said,the initiave seeks to encourage and inspire creative ideas that will deliver value to the marketplace.
- Ruzi Ajith,CEO of CGS-CIMB Securities,said,the focus is to encourage new ideas in the retail market place of stock trading.
Insights:
- Retail participation on Bursa Malaysia has seen significant growth this year, attributable to a variety of factors arising from the COVID-19 pandemic. As at end-September 2020, our retail participation recorded a 10-year high of 33.2%, while Average Daily Value (ADV) was RM1.327 billion representing a 231.4% increase compared to the same period in 2019.
- Therefore,sustaining active participation by retail investors is essential towards a vibrant securities market; the way to go about it is to leverage technology adoptions via digital transformation initiatives.
Editor's comments:
- Retail investor is a fancy word for consumer or crowd.
- Let's create a portal to provide financial literacy targeting retail investors,to facilitate healthy collaboration and draw the the red flag over herd behaviour.
Questions and Answers:
I.) The competition is only opened for Malaysian globally or Permanent Residents ? What if there is a team member who is a foreigner ?
The competition is open to Malaysian students globally, Foreign students who are currently studying/residing in Malaysia, all Malaysians, and Malaysian Permanent Residents.
II.) The virtual Hackathon will span 3 days virtually from 20-Nov 12pm to 22-Nov 12pm. Does this mean participants need to be connected to the interactive platform for 48 hours non-stop ?
No. Participants do not need to be on the platform for 48 hours non-stop. Participants will be advised in more detail during the pre-hack virtual briefing on 16 Nov.
III.) A startup company who is yet to go to market but has developed offerings that suit the challenges, are they allowed to register ?
As long as the offering is not currently commercially available, it can be submitted for the competition.
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