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SGX, Smartkarma in tie-up to streamline communication and data reporting for companies
THE Singapore Exchange (SGX) and fintech firm Smartkarma will work together to roll out a cloud-based platform that will bring analysts, investors and listed companies into a single network.
Through the C-Suite Pilot Program, companies will be able to communicate seamlessly with analysts and investors, monitor sentiment, compare industry performance, and benchmark instantly against peers which will enhance investors' understanding of and accessibility to these companies, the bourse said in a release on Monday.
As a part of the programme, Smartkarma and SGX have invited "C-level" or top senior executives and investor relations professionals of Singapore-listed companies to join the programme to provide their input and feedback, with the objective of gaining a better understanding of local requirements and use cases specific to this market, it added.
The collaboration is a first between Smartkarma - which operates a digital marketplace and provides investment insight into Asian markets - and a stock exchange.
Said Chew Sutat, head of equities and fixed income, SGX: "The global investment research landscape is fast evolving with the emergence of self-directed and independent research, as well as new regulations resulting in a reduction in investment coverage by financial institutions. We welcome this initiative by Smartkarma to build a solution that raises the profile of our listed companies amongst investors and analysts."
Smartkarma's chief executive officer Raghav Kapoor added: "We are thrilled to partner with SGX ... this is coming at a time when banks and brokers are downsizing research desks due to regulation and cost constraints, resulting in a decline in the depth and breadth of coverage of certain stocks, assets and sectors."