Spiking (fintech)

Last updated
Spiking
Developer(s) Aly Pte. Ltd.
Initial release1 April 2016;8 years ago (2016-04-01)
Operating system iOS, Android
Type Social trading
License Free
Website spiking.com

Spiking is a social trading platform providing financial information about 10 stock exchange markets in Asia and Australia. By processing the latest disclosures published on the markets, the platform allows investors to track stocks for moves made by company directors and substantial shareholders. It also provides other relevant information, like the main shareholders of companies or the portfolios of sophisticated investors.

Contents

Features

Spiking tracks the sophisticated investors from 10 stock markets in eight countries (ASX, HKEx, BSE, NSE, MYX, PSE, SGX, SET, HNX, HOSE) and sends users real-time notifications whenever these investors transact and make public their filings. [1] [2] The platform consolidates the latest disclosures published on these markets and sends them to mobile devices almost instantaneously. All information by public companies and bona fide investors is verified using machine-reading algorithms to scan stock exchange filings. [3] The scan is done every minute, and the information is posted almost instantly on the app. [4] [5]

Spiking users can see who the top 20 shareholders of a company are, the price and quantity of their latest transactions, and the other stocks these investors have in their portfolios. [6] The mobile app also allows users to 'follow' their favourite counters or celebrity investors, and keep tabs on their movements. The users can form private chat groups. [1]

The app provides sophisticated investors (those who invest in more than 5 percent of a public-listed company) with resources to conduct due diligence, influence board decisions and access to more intimate knowledge than most other investors. [7] It also aggregates recent news headlines, announcements, tweets and buy/sell activity of the companies and investors selected by the user. Spiking Forum organizes discussion threads by company for member discussions. [8] [9]

History

Clemen Chiang, Ph.D. [10] (the CEO and founder of Aly Pte. Ltd.) developed the idea of this mobile app from his personal observations as a private investor of 15 years. The decision-making process often had to rely too much on speculations and rumors. In order to make better sense of unexplained spikes in market activity, he thought of a platform to consolidate big data and relevant information and he spent 20 months and $250,000 developing the app. [11] [12]

An early investor was Quest Ventures, China's leading venture fund for technology companies that have scalability and replicability in large internet communities. Spiking was also supported by a grant from the National Research Foundation, Prime Minister's Office, Singapore, under its i.JAM Reload Programme. It was elected to participate in the Startupbootcamp FinTech Pitch Day 2015 in Hong Kong, and Startupbootcamp Selection Days 2015, in Singapore. It was also one of the finalists of the Benzinga Fintech Awards 2015 in New York, for Research Platforms & Tools — Best in Class. [7]

On 1 April 2016, Spiking was released for free download on the iOS App Store, providing financial information about 8,000 sophisticated investors operating on the Singapore Exchange (SGX). Later, an Android version was also launched on Google Play and other stock markets from Asia and Australia were included in the platform. At the moment of the launch in April 2016, the company expressed its intention to expand through seed funding into regional markets with high smart phone penetration. [7] In September 2016, it exceeded its seed funding target of S$1 million ($732,828). [13] [14] Among the main investors were Andrew Chen, Douglas Foo, Koh Boon Hwee and Lim Ah Hock. [8] [15] [16]

In October 2016, Spiking was the Gold Winner of Singapore infocomm Technology Federation Awards 2016 at the category Best Innovative Start-up (Early Stage). [17] [18] The award was given for the innovative approach to solving the asymmetrical information problem for retail investors of the stock market [19] and for the display of a very international outlook, having the potential to grow big on the international stage. [20]

On 13 March 2017, Spiking released the new version 3.0 iOS app, with new features as well as expansion into Bursa Malaysia. As a result of the release, it became No.1 on the Top Gross iPhone Apps (Finance) in Singapore on 23 March 2017. [21] Spiking was one of Singapore's Hottest Startups 2017 (Singapore Business Review). [22] As of 7 May 2017, Spiking was ranked 15 under iPhone - Free - Finance (Singapore) and ranked 57 under iPhone - Grossing - Finance (Singapore), [21] while in Google Play Ranking was ranked 25 under Top Free - Finance (Malaysia). [23]

In August 2018, a new seed and pre-A funding reached a total of S$2.23 million, necessary for further expansion of the platform, including by adding digital assets covered in the international cryptocurrency markets. [24] Spiking raised more than US$30 million in the initial token offering for its blockchain platform, conducted in three phases, in October - December 2018. [25]

Stock markets tracked

Related Research Articles

Australian Securities Exchange Ltd (ASX) is an Australian public company that operates Australia's primary securities exchange, the Australian Securities Exchange. The ASX was formed on 1 April 1987, through incorporation under legislation of the Australian Parliament as an amalgamation of the six state securities exchanges, and merged with the Sydney Futures Exchange in 2006.

<span class="mw-page-title-main">Hong Kong Stock Exchange</span> Stock exchange based in Hong Kong

The Stock Exchange of Hong Kong is a stock exchange based in Hong Kong. As of the end of 2020, it had 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is reported as the fastest growing stock exchange in Asia.

<span class="mw-page-title-main">Singapore Exchange</span> Investment holding company in Singapore

Singapore Exchange Limited is a Singapore-based exchange conglomerate, operating equity, fixed income, currency and commodity markets. It provides a range of listing, trading, clearing, settlement, depository and data services. SGX Group is also a member of the World Federation of Exchanges and the Asian and Oceanian Stock Exchanges Federation. it is ASEAN's second largest market capitalization after Indonesia Stock Exchange at US$585.97 billion as of September 2023.

<span class="mw-page-title-main">Ping An Insurance</span> Chinese insurance company

Ping An Insurance known also as Ping An of China, full name Ping An Insurance (Group) Company of China, Ltd. is a Chinese financial services holding company whose subsidiaries provide insurance, banking, asset management, financial services. The company was founded in 1988 and is headquartered in Shenzhen. "Ping An" literally means "safe and well".

<span class="mw-page-title-main">Hong Kong Exchanges and Clearing</span> Holding company of the Stock Exchange of Hong Kong Ltd. and Hong Kong Futures Exchange Ltd.

Hong Kong Exchanges and Clearing Limited operates a range of equity, commodity, fixed income and currency markets through its wholly owned subsidiaries The Stock Exchange of Hong Kong Limited (SEHK), Hong Kong Futures Exchange Limited (HKFE) and London Metal Exchange (LME).

<span class="mw-page-title-main">Hanoi Stock Exchange</span>

Hanoi Stock Exchange (HNX), formerly the Hanoi Securities Trading Center until 2009, is located in Hanoi, Vietnam, and was launched in March 2005. It handles auctions and trading of stocks and bonds. It was the second securities trading center to open in Vietnam after the Ho Chi Minh City Securities Trading Center.

<span class="mw-page-title-main">Wall Street Magnate</span> Virtual trading platform

Wall Street Magnate is a fantasy stock-trading platform and community website. By March 2015, the platform had exceeded 60,000 monthly users. Participants are given $100,000 in simulated currency to build their fantasy stock portfolio. Stocks are traded on the platform based on data from the New York Stock Exchange, NASDAQ and AMEX. According to IDC, "Wall Street Magnate has woven together social elements, real-time feeds, leaderboards, and data-rich progress reports into a compelling game-like experience." Of particular note are social features derived from fantasy sports leagues that allow users to form clubs, track member progress, and compete against other clubs. Wall Street Magnate also allows its users to create competitions, compare portfolios, track investments, and communicate via instant messaging. It accounts for both dividends and stock splits in real-time, and constantly streams current financial news from a variety of media outlets. Additionally, the platform allows its members to test out thousands of new exchange-traded products including exchange-traded funds (ETFs) and debt securities such as exchange-traded notes (ETNs).

Blockchain.com is a cryptocurrency financial services company. The company began as the first Bitcoin blockchain explorer in 2011 and later created a cryptocurrency wallet that accounted for 28% of bitcoin transactions between 2012 and 2020. It also operates a cryptocurrency exchange and provides institutional markets lending business and data, charts, and analytics.

Robinhood Markets, Inc. is an American financial services company headquartered in Menlo Park, California. It operates an electronic trading platform that facilitates commission-free trades of stocks, exchange-traded funds and cryptocurrencies as well as individual retirement accounts via a mobile app introduced in March 2015. Robinhood is a FINRA-regulated broker-dealer, registered with the U.S. Securities and Exchange Commission, and is a member of the Securities Investor Protection Corporation. The company's revenue comes from three main sources: interest earned on customers' cash balances, selling order information to high-frequency traders and margin lending. As of December 2023, Robinhood had 23.4 million funded accounts and 10.9 million monthly active users. In April 2022, Robinhood rolled out a cryptocurrency wallet to more than 2 million users.

HDFC Securities Limited is a financial services intermediary and a subsidiary of HDFC Bank, a private sector bank in India. HDFC Securities was founded in year 2000 and is headquartered in Mumbai, with branches across major cities and towns in India.

<span class="mw-page-title-main">Grab (company)</span> Singaporean technology company

Grab Holdings Inc. is a Singaporean multinational technology company headquartered in One-North, Singapore. It is the developer of a super-app for ride-hailing, food delivery, and digital payment services on mobile devices that operates in Singapore, Malaysia, Cambodia, Indonesia, Myanmar, the Philippines, Thailand, and Vietnam.

YuuZoo was a company that has built an online platform that combines social networking, e-commerce, gaming and online and mobile payments. It had grown internationally through a licensing programme in which geographical licenses were sold to companies or entrepreneurs in each market. It was the first company of its kind to be listed in Singapore. The platform also had an advertising functionalities and a payment service called YuuPay.

<span class="mw-page-title-main">Funding Societies</span>

Funding Societies is a Southeast Asia’s digital financing platform for small and medium-sized enterprises (SMEs), headquartered in Singapore. It was the first such platform in Singapore to engage an escrow agency to independently and safely manage investors’ funds. In Indonesia it is known as Modalku. Since its launch, it has disbursed more than US$2.6 billion in business financing to MSMEs through more than 5.1 million loan transactions.

Voleo is a Canadian financial services company, headquartered in Vancouver. Voleo enables users to form investment clubs with people they trust to democratically manage a portfolio of publicly traded securities.

<span class="mw-page-title-main">IGG Inc.</span> Chinese video game company

IGG Inc. is a Chinese video game developer and publisher. The company was founded in 2006 in Fuzhou, Fujian, China. IGG is now headquartered in Singapore, namely "IGG Singapore Pte. Ltd.", since 2009 and has branches in China, the United States, Canada, Japan, South Korea, Belarus, Thailand, Philippines and Hong Kong.

<span class="mw-page-title-main">Frasers Property</span> Multi-national real estate and property management company

Frasers Property is a Singaporean multinational real estate and property management company that develops, owns, and manages properties across the globe. It owns and manages properties in the commercial, residential, hospitality, retail, and industrial and logistics sectors. Headquartered in Singapore, it trades on the main board of the Singapore Exchange Securities Trading Limited (SGX-ST). It also sponsors real estate investment trusts (REITs), including one stapled trust, two of which are also listed on the SGX-ST.

<span class="mw-page-title-main">CapBridge</span>

CapBridge is an online investment platform, headquartered in Singapore. It was founded in 2015 and backed by Singapore Exchange. CapBridge was approved by the Monetary Authority of Singapore (MAS), Government of Singapore to operate both a primary capital raising platform utilizing a Capital Markets Securities License, and a private securities exchange - 1exchange with a Recognized Market Operator license.

<span class="mw-page-title-main">BUX (brokerage)</span> Amsterdam-based financial services company

BUX is a European mobile brokerage company, based in Amsterdam and London. Retail investors buy shares, ETFs and cryptocurrency through the BUX app. BUX allows users CFD trading through its Stryk app and crypto trading using the BUX Crypto platform.

<span class="mw-page-title-main">Clemen Chiang</span> Singaporean entrepreneur

Clemen Chiang is a Singaporean entrepreneur who is the co-founder of CozyCot and founder of Spiking, and member of Boards of Directors of several publicly listed companies in the Singapore and Hong Kong Stock Exchanges.

<span class="mw-page-title-main">Moomoo (company)</span> Retail stock trading app

Moomoo is a global investment and trading platform, providing investors with professional research data and analysis tools. The platform provides users with the information and tools to make investment decisions.

References

  1. 1 2 Marianne Estioco (22 April 2016). "From zero to hero: This app lets you stalk top investors and trade like a pro with a single click". Singapore Business Review. Retrieved 3 May 2016.
  2. ↑ ""Spiking" 手机应用软件免费提供追踪股票信息". Lianhe Zaobao. 2 April 2016. Retrieved 3 May 2016.[ permanent dead link ]
  3. ↑ Farhan Shah (July 2016). "The Wisdom of Crowds". August Man. Archived from the original on 6 October 2016. Retrieved 5 October 2016.
  4. ↑ Jacquelyn Cheok (2 April 2016). "Wanna track big boy's stock trades? Spiking levels the playing field for you". The Business Times . Retrieved 3 May 2016.
  5. ↑ "95.8FM 早点正能量". Capital 95.8FM. 9 April 2016. Retrieved 3 May 2016.[ permanent dead link ]
  6. ↑ "SEC.gov | Using EDGAR to Research Investments". www.sec.gov. Retrieved 2023-05-04.
  7. 1 2 3 Nurdianah Md Nur (1 April 2016). "Spiking mobile app tracks stock transactions of Singapore's elite investors". Computerworld Singapore. Archived from the original on 1 June 2016. Retrieved 3 May 2016. Also on CIO Asia
  8. 1 2 Terence Lee (19 September 2016). "This app helps average investors become Warren Buffett". Tech in Asia . Retrieved 5 October 2016.
  9. ↑ Tang See Kit (23 September 2016). "Want to trade like the big boys? This homegrown app could help you". Channel NewsAsia . Retrieved 5 October 2016.
  10. ↑ Clemen Chiang (2017). "Examining the impact of viral marketing on social action within computer-mediated social network sites (PhD Thesis)". University of Canberra.
  11. ↑ Marissa Lee (2 April 2016). "New app to track big players' share trades". The Straits Times . Retrieved 3 May 2016.
  12. ↑ S. Sakthivel. "Whale Spotting In Singapore". Storm.sg. Retrieved 5 October 2016.
  13. ↑ "Spiking closes $1.03m seed round". The Straits Times. 22 September 2016. Retrieved 5 October 2016.
  14. ↑ Jacquelyn Cheok (20 September 2016). "Accelerators pivot to next generation". The Business Times . Retrieved 5 October 2016.
  15. ↑ Sainul Abudheen (19 September 2016). "Spiking raises over US$1M funding to make you a billionaire by trading on stock markets". Yahoo News . Retrieved 5 October 2016.
  16. ↑ Jude Chan (19 September 2016). "Financial whale-watching app Spiking reels in the big fish". The Edge Markets. Archived from the original on 2016-10-09. Retrieved 5 October 2016.
  17. ↑ "SiTF Awards 2016 Winners". Singapore infocomm Technology Federation. Archived from the original on 9 October 2016. Retrieved 5 October 2016.
  18. ↑ "Hot Contenders to bag GOLD at SiTF Awards 2016". TechStorm TV. 30 September 2016. Archived from the original on 9 October 2016. Retrieved 6 October 2016.
  19. ↑ Aaron Low (10 October 2016). "Helping retail investors gain an edge". The Business Times . Retrieved 10 October 2016.
  20. ↑ Aaron Low (10 October 2016). "The gold standard in innovation". The Business Times . Retrieved 10 October 2016.
  21. 1 2 "What's New in Version 3.0 Spiking app". iTunes . Retrieved 5 October 2016.
  22. ↑ "Singapore's Hottest Startups 2017" (PDF). Singapore Business Review. February–March 2017. Retrieved 31 March 2017.
  23. ↑ "Spiking - Social Trading". Google Play . Retrieved 5 October 2016.
  24. ↑ "Fintech Asset Tracking App Spiking Raises S$2.23 Million in Pre Series A Funding". Crowdfund Insider. 23 August 2018. Retrieved 27 March 2020.
  25. ↑ "Stock tracking app Spiking raises $30m in private token sale". Tech in Asia. 25 October 2018. Retrieved 27 March 2020.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.