UPDATE: SGX makes strategic investment in fintech Smartkarma

Signage at the SGX building on Shenton Way in Singapore; taken October 2018.Signage at the SGX building on Shenton Way in Singapore; taken October 2018.

This article was originally published Tuesday, 9 July 2019 at 8:48 A.M. SGT; it has since been updated.

Singapore Exchange has made a strategic investment in Singapore-based investment-research platform Smartkarma, the exchange said in a press release Tuesday.

Smartkarma operates a research network linking institutional investors, independent investment analysts and listed companies on a single platform to share information and interact, the statement said.

The platform also provides an additional source of research data and analysis, SGX said. It added that listed companies can use the platform to reach out to investors, raising their overall visibility through enhanced market coverage and improving price discovery.

“Research data and information are crucial to making informed investment decisions. With the advent of technology, we see tremendous potential in this innovative platform that is adding another dimension to fundamental investment research,” Chan Kum Kong, head of research and retail at SGX, said in the statement.

Raghav Kapoor, co-founder and CEO of Smartkarma, pointed to the effects of shifts in the investment research industry on the markets.

“From the very beginning, we have been working hard to address the fundamental gaps we see around us. SGX shares our conviction that technological innovation is key to navigating this new landscape,” Kapoor said in the statement.

SGX didn’t provide the size of the investment, but at a press conference Tuesday, Kapoor added that the investment was “seven figures.”

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