Fintech M-DAQ and Thai stock exchange tie up to show SET50 prices in 10 currencies

HOMEGROWN fintech startup M-DAQ has partnered the Stock Exchange of Thailand (SET) to develop a solution that enables investors to view the real-time prices of SET50 stocks in 10 different currencies.

With this solution, SET aims to "facilitate investors and brokerage firms to enhance their securities analysis and expand their investor base, ultimately increasing investment appetite", both organisations said in a joint statement on Monday. 

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

SET's senior executive vice-president, Soraphol Tulayasathien, said that the solution will convert the real-time prices of SET50 component stocks into these 10 currencies by using interbank foreign exchange rate.

"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," the firms said.

The solution, named "Trading the Right Chart", is now live on www.set.or.th. 

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Last November, M-DAQ bagged Enterprise 50's Digital Economy Award, which gives recognition to an enterprise that could be the "next billion-dollar company" in Singapore.