Bursa Malaysia Berhad (Bursa Malaysia) in partnership with CGS-CIMB Securities Sdn Bhd (CGS-CIMB), will host the inaugural InvestHack hackathon event from November 20 to 22.
The event themed InvestHack: Reimagine Investing aims to develop innovative solutions and offerings that can enhance retail investor participation in the marketplace.
Malaysia Digital Economy Corporation (MDEC) and the Malaysian Global Innovation & Creative Centre (MAGIC) are the community partners.
By the end of Sept, the retail participation recorded a 10-year high of 33.2 percent, while Average Daily Value (ADV) was RM1.327 billion representing a 231.4 percent increase compared to the same period in 2019.
Bursa Malaysia plans to focus on the use of technology to develop a more energetic marketplace.
Registration for InvestHack is free and a total cash prize of RM35,000 is offered. Teams will be required to work on four different challenges to improve the retail investor ecosystem.
Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia said, “We are excited to host this event with our partner, CGS-CIMB Securities to create new opportunities to better serve the needs of the investing public.”
Ruzi Ajith, Chief Executive Officer of CGS-CIMB added, “We are honoured to be part of this event with Bursa Malaysia, as this platform encourages us to see investing from a different perspective. We look forward to the new ideas and innovative solutions that can improve the retail market place.”
The 3-day virtual hackathon will be conducted via an interactive platform comprising teams of three to five people. Registered teams will be invited for a virtual briefing on 16 November 2020 to dive into the problem statements.
During the main event, teams will be guided by knowledgeable and experienced mentors, to be followed by two rounds of pitching sessions to select the top three winners.