December 5, 2023

Moomoo Singapore is pleased to offer access to Level 2 market data for Singapore-listed stocks to its users, in addition to the Level 1 market data that it already provides to users.

This builds on Moomoo Singapore’s strong partnership with the SGX Group to promote the use of market depth data by retail investors, as well as trading in Singapore-listed stocks. 

“We are delighted to offer access to Level 2 market depth data for users who are willing to participate in our campaign. As a Singapore-based digitalised brokerage, we recognise the important role we play in increasing vibrancy in the Singapore stock market,” Gavin Chia, CEO of Moomoo Singapore, said.  

“While locally-listed stocks are often overlooked in favour of big names in the U.S. and beyond, there are in fact, many attractive opportunities here for investors to capture alpha. We will continue to work glove-in-hand with SGX to promote trading in the local stock market, including through such partnerships and joint investor education initiatives,” he added. 

Market data, also called an order book, provides investors with key insights regarding the bid scope and price levels of quotes submitted to an exchange. This data is a critical component for many trading strategies.

While Level 1 data provides traders with basic quote data, Level 2 data shows what is called the “order book” for an asset, or the list of orders that are placed for buying and selling a particular asset over time. 

Rather than just seeing the most recent price, traders can see as many as 5-10 of the most recent bid sizes, including orders that have been placed but still need to be filled. This provides traders with a more holistic overview of a stock’s price performance, and helps traders fine-tune their strategies to capture alpha. 

“Level 2 market data benefits investors of all levels to better understand the stocks they want to buy and how they can uncover new opportunities that they might not have seen with the limited Level 1 market data,” Chia said. 

“As a digitalised brokerage, we believe in empowering our users with the tools to improve their investment journey. We want to give our users access to tools that were previously only available to select segments of the investment community,” he added. 

Moomoo Singapore has long been an advocate of the Singapore stock market, driven by our conviction that local companies are the bedrock of our economy. As part of Singapore’s National Day celebrations in August, Moomoo Singapore had embarked on a campaign to help investors rediscover Singapore stocks across sectors such as real estate, healthcare and aviation. 

According to data from Moomoo Singapore, 10.1 per cent of investors who were profitable in trading Singapore stocks in the first six months of 2023 posted returns of more than 100 per cent, while 40 per cent posted returns of up to 10 per cent, outperforming the Straits Times Index in the same period. 

To encourage more investors to look at Singapore stocks, Moomoo Singapore has also established partnerships with various industry leaders including SGX, SIAS and financial educators to raise awareness of the public’s knowledge of the Singapore stock market. 

According to a poll conducted by Moomoo Singapore, investors in Singapore are reluctant to trade in Singapore stocks due to concerns about market volatility and uncertainty, as well as their inadequate knowledge of the local stock market.

To address these concerns, Moomoo Singapore platform offers a wide variety of analytical tools, such as stock screener, high dividend screener, charting tools for technical analysis and more. 

The majority (70 per cent) of respondents think they will increase their frequency of trading in the Singapore market in the next six months, according to a Moomoo Singapore study. They are most likely to trade stocks in the financial and insurance, real estate, and technology sectors.