The winning team opened trading on the stock exchange in Hackathon.
Development of trading systems, a variety of creative solutions to make information accessible to the general public, use of BI systems for new technological developments and more, were among the 10 innovative ideas proposed by Tel Aviv Stock Exchange employees as part of the first act of its kind held last weekend (November 18-19) in the center Conferences of the stock exchange.
The first place went to the TRG team (TASE Reality Game), which developed a virtual 3D demo game, in which during the game it will be possible to get to know the companies traded on the stock exchange, in a friendly and accessible manner, while being able to trade in those companies. The winning team included 6 staff members from the development, infrastructure and economics departments of the stock exchange. On the game platform it will be possible to integrate games and other developments later. Second place went to the team that developed its demo for the OTC system for the stock market.
In recent years, the stock exchange has undergone a significant change, among other things with the accelerated development of new products and services for the capital market, the implementation of digitization processes and a significant upgrade of technological infrastructure while complying with international standards. The hackathon was conducted as part of these measures, with the aim of enabling TASE employees to develop additional products and services, streamline processes and services in the core areas of the TASE and promote a variety of groundbreaking, innovative and digital processes.
Already in the first phase of the hackathon about 120 proposals were sent. During the screening, the ten initiatives that advanced to the final stage were selected. Among the criteria set for the judging: technological maturity, cost / benefit, innovation, legal feasibility, connection to the goals of the organization and assessment of the quality of the initial development.
The panel of judges included two external judges: Prof. Eugene Kendall, Chairman of the Institute for Policy and Research at Startup Central andDr. Ami Alpbum, Chairman of the Innovation Authority and three senior executives at the stock exchange: Orly Greenfeld, Senior Vice President and Director of the Clearing Department, Uri Shavit, Senior Vice President and Director of Technology, Information and Operations andSaria Orgad, Senior Vice President and Director of Strategy and Business Development.
This morning the winning team opened the trade to the side Dr. Ami Applebaum, Chairman of the Innovation Authority, CEO of the TASE, Itai Ben Zeev And the TASE management team that was among the judges in the competition.
The hackathon is done under the guidance of Blee, a company that specializes in running hackathon processes in organizations.
Prof. Eugene Kendall, Chairman of the Innovation Policy Institute at Startup Central, said at the end of the hackathon and the announcement of the winning team that: This is a unique opportunity for all those developers and entrepreneurs who participated in the hackathon to apply the technological knowledge they have accumulated in their work on the stock exchange and to place the Tel Aviv Stock Exchange as a leader and innovative in its field. “
Dr. Ami Applebaum, chairman of the Innovation Authority said at the ceremony: “I am grateful for the opportunity I was given to see an impressive group of employees at the stock exchange with energies and ambitions who gave impressive and groundbreaking solutions in their field. The competition was tough and challenging in light of the many innovative ideas. “Having seen thousands of startups in his life, I tell you that what I saw here was very extraordinary and I am glad that I was part of the process.”
6 representatives of the first place winning team said today: “The big question for us was how to break the glass ceiling of trading cycles and bring in new users from all over the world and exposure to young people. We found that the answer is through play. reality game, a three-dimensional game that supports sweeping and exciting VR, which will serve as a platform for companies to present their world that will attract new players, and make them ranked as the best investors in the world. “
Itai Ben Zeev, CEO of the TASE said: “The many changes in the business and financial environment, especially those related to new and advanced technologies, create for financial institutions in general and the stock market in particular many opportunities and the need for innovation to maintain relevance and up-to-dateness. “The professional experience of the employees of the stock exchange on the one hand, along with our openness to the application of new products and technologies, will ensure that we can enjoy groundbreaking ideas and solutions, for the benefit of the entire capital market.”