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Tencent Portfolio, Authorized by NASDAQ, to Become the Only App in China to Provide Free Real-time US Equity Data
Jul 07, 2013 (04:07 PM EDT)
NEW YORK, July 7, 2013 /PRNewswire/ -- Tencent, the leading provider of comprehensive internet services in China, today jointly announced with the NASDAQ OMX Group that, Tencent's mobile application Tencent Portfolio has become the only mobile stock application in China to provide Chinese investors with free access to real-time, intraday trade data for all securities traded on NASDAQ systems, under NASDAQ's authorization. To symbolize the commencement of the cooperation between NASDAQ and Tencent, NASDAQ has projected Tencent Portfolio's advertisement on its huge screen on the NASDAQ MarketSite Tower in New York City.
At present, U.S stock trading data offered by China's portals and vertical financial websites are usually delayed by 15 minutes or are operated with BATS (Better Alternative Trading System), a small-sized e-trading platform based in the U.S. that only offers real-time data for a limited number of stocks sold on US exchanges. The lack of real-time data has put Chinese investors at a disadvantage when trading on the primary exchanges in the U.S. At a time when traders buy and sell stocks very quickly based on the latest news, delayed information could no longer satisfy Chinese investors' demands.
Currently, investment in U.S stocks is heating up, but none of the financial institutions in China have been able to provide free real-time U.S exchange quotes to Chinese investors. "We are elated to place real-time market data in the hands of tens of millions of investors in China," said Brian Hyndman, Senior Vice President, NASDAQ OMX Global Data Products, "With NASDAQ Last Sale, Tencent subscribers have instant access to the best-priced stock quotes and last sale data in all U.S.-listed securities, enabling them to be better informed when making trading decisions."
Tencent Portfolio, as the only authorized mobile application approved by NASDAQ, can now provide free access to real-time updates of U.S stock-trading information on both the iPhone and Android platforms. Tencent is a fast-moving company and today's announcement is expected to ignite a reshuffling of the industry. Tencent Portfolio will not only stand out from competing stock applications, but will also stimulate the industry to pay close attention to offering real-time equity data services.
The Vice President of Tencent Mobile Media Product Huang Hai said, "The real-time quote service offered by Tencent Portfolio will cover all stocks listed in the U.S. exchanges. Following the rollout of free real-time data for the Hong Kong exchanges, we are now doing the same for the U.S. Tencent Portfolio aims to provide a free service to investors that includes the latest and most precise stock quotes so they can accurately grasp the investment opportunity."
Tencent uses technology to enrich the lives of Internet users. Every day, hundreds of millions of people communicate, share experiences, consume information, seek entertainment, and shop online through our integrated platforms. Our diversified services include QQ, Weixin and WeChat for communications; Qzone for social networking; QQ Game Platform for online games; QQ.com for information; as well as our eCommerce open platform. Our company was founded in Shenzhen in 1998 and went public on the Hong Kong Stock Exchange in 2004. We seek to evolve with the Internet by investing in innovation, providing a hospitable environment for our partners, and staying close to our users.
For more information, please visit www.tencent.com/ir