Investors can now track their favourite stocks for moves made by company directors and substantial shareholders from their mobile devices at any time and from anywhere.
Mobile app Spiking consolidates the latest disclosures published on the Singapore Exchange (SGX) and pushes it to mobile devices almost instantaneously. All information by public companies and bona fide investors are verified using machine-reading algorithms to scan stock exchange filings. The scan is done every minute, and the information is posted almost instantly on the app.
Spiking thus allows retail investors to gain access to a data feed of up-to-the-minute disclosures of transactions, holdings and changes of interest by corporate heads, significant shareholders and Singapore's business elite (ie. sophisticated investors).
The app also provides sophisticated investors - those who invest in more than 5 percent of a public-listed company -- the resources to conduct due diligence, influence board decisions, have access to more intimate knowledge than most other investors.
In general, Spiking users can see who the top 20 shareholders of a company are, the price and quantity of their latest transactions, and even what other stocks these investors have in their portfolios. The mobile app also allows users to 'follow' their favourite counters or celebrity investors, and keep tabs on their movements.
According to Clemen Chiang, CEO of Aly Pte Ltd, the company behind Spiking, the mobile app helps to level the playing field for retail investors by democratising the access to information on the SGX. The verified information on trades made by the sophisticated investors will help inform investors of unexplained spikes in market activity.
"Spiking cuts out the noise surrounding stocks such as gossips, rumours and speculations. We help retail investors to make better investment decisions with greater confidence based on up-to-date market knowledge they never had before. It provides investors with timely and reliable data on which to form their investment strategy," he said.
Even though Spiking is a free app, it is currently only available by invitation. Opinion leaders and investors who receive the invitation to register are allowed to invite 10 of their friends to join.
Users can download the app from the iOS App Store, and expect premium services that will provide additional capabilities such as data analytics and trading platform to be rolled out soon. The Android version of the app is expected to be launched in mid-May.
Spiking is supported by the National Research Foundation, Prime Minister's Office, Singapore, under its i.JAM Reload Programme. It was elected to participate in the Startupbootcamp FinTech Pitch Day 2015 in Hong Kong, and Startupbootcamp Selection Days 2015, in Singapore. It was also one of the finalists of the Benzinga Fintech Awards 2015 in New York, for Research Platforms & Tools - Best in Class.
Sign up for CIO Asia eNewsletters.