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:

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.

 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 faciliate healty collaboration and draw the the red flag over herd behaviour.