Rumor: Tencent to Enter Financial Information Industry
Sina Tech, 6/12/12
An informed insider reported today that this coming July, Shenzhen-based internet company Tencent (0700.HK) will set up its securities software division, officially announcing its entry into the securities and financial information industry. Tencent will provide Level-2 software, valued at RMB 980, to its users for free, and will offer them an initial ten pieces of trading and pricing information. At present, Tencent has launched the beta for its Level-2 market data software, and will soon hand it out for free trials.
According to an industry insider, if Tencent does enter the financial information sector, several major domestic stock information providers, such as HiThink Financial Services, Shanghai Great Wisdom, and East Money will take a direct hit. Presently, these companies all employ a fee-based structure for the use of their Level-2 software.
In its 2011 annual fiscal earnings report, Tencent disclosed that for a consideration of RMB 380 mln it had acquired a 20.20% equity interest in a securities investment analysis software company that provides securities investment solutions to investors through its Internet platform.
In December of 2011, Tencent announced that together with Shanghai Emoney Software Technology Co., Ltd., it would launch the securities software Tencent Trader, compatible with users' QQ login accounts and embedded into Tencent's Weibo microblogging platform.
Editor's note: Level-2 products are fee-based, real-time market information services developed and launched by the Shanghai Stock Exchange. They offer real-time transaction data primarily regarding securities traded on the Shanghai Stock Exchange. Level-2 products are sold by the Shanghai Stock Exchange to financial information service providers, who in turn sell them to users.
Keywords: East Money Tencent Trader online financial information Internet software Tencent 0700.HK
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