SET Joins M-DAQ to Launch a Solution for Real-Time SET50 Stock Prices in 10 Currencies

On Monday, July 13, 2020, the Stock Exchange of Thailand (SET) announced that it has partnered with M-DAQ, Asia’s leading Fintech startup, to collaborate and develop a solution that allows investors to view the real-time prices of SET50 stocks in 10 different currencies. With this groundbreaking solution, SET aims to facilitate investors and brokerage firms to enhance their securities analysis and expand the investor base, ultimately increasing investment appetite.

 

SET Senior Executive Vice President Soraphol Tulayasathien said that the solution will convert the real-time prices of SET50 component stocks into 10 different currencies by using interbank foreign exchange rates. The indicative price generated will benefit foreign investors for their decision making while brokerage firms can also leverage the information to enhance their services to clients.

“This partnership with M-DAQ will widen opportunities for foreign investors to invest in the Thai market, enabling them to manage portfolios more effectively and conveniently. Having said that this innovation affirms one of SET’s strategy ‘Grow with New Opportunities,’ aiming to continuously make our products more attractive to expand the investor base,” added Soraphol.

M-DAQ Founder/CEO, Richard Koh added, “Trading the Right Chart™ was specifically designed for leading global exchanges – like the SET – which has diverse and sophisticated investors and stakeholders, to facilitate their international equities trading and increase liquidity and velocity of trades thanks to price certainty.”

The 10 currencies consist of the Australian dollar, Chinese yuan, Euro, British pound, Hong Kong dollar, Indonesian rupiah, Japanese yen, Malaysian ringgit, Singapore dollar, and US Dollar.

 

About M-DAQ

M-DAQ was founded in 2010 with a vision to create a World without Currency Borders® and is a home-grown Singapore based FinTech. Today, the 10-plus year old company is one of the most valuable FinTech companies in the region, having recently welcome 2/2 Japan’s NTT Communications and South Korea’s Samsung and Kiwoom Securities as investors and business partners, in addition to Ant Financial, EDBI, GSR Ventures and Vickers Venture. At last year’s 25th Anniversary edition of the Singapore Enterprise 50 Awards, M-DAQ was given the inaugural special Digital Economy Award for being the “next billion-dollar company” in Singapore.