Dr Tran Dac Sinh, Chief Executive Officer, Ho Chi Minh Securities Trading Center
Distinguished guests; Friends from the Media; Ladies and gentlemen Good Afternoon!
I am very happy to be in Ho Chi Minh City today on the occasion of the signing of the Memorandum of Understanding (MOU) between the Ho Chi Minh Securities Trading Center (HoSTC) and NextVIEW Pte Ltd (NextVIEW).
This MOU is borne out of a shared vision of Vietnam as a country fully connected to the international financial community, its Stock Exchange as a modern and dynamic capital market platform and Vietnamese investors as an educated and vibrant investor community. It seals a strategic working partnership between HoSTC and NextVIEW.
This MOU covers our strategic cooperation in 3 broad areas: 1) Data Services, 2) Investor Education and 3) International Marketing- Data Services is a key by-product and product of a modern stock exchange.Real-time stock price is the most visible and arguably the most important aspect of data services. But there are also the corporate action, announcement, news, research and reference data which need to be combined into a single view in order to support the information needs of investors.
For the Vietnamese investors, the availability of a reliable and cost effective real-time information platform in local language is important to the development of a sustainable and transparent financial market in Vietnam. As the only Asia-based market data vendor operating in 10 countries, including emerging markets such as India, China and Pakistan, NextVIEW has developed an intimate understanding of the right mix of local and international content needed by local and international investors to make informed investment decisions.
As distributor of Vietnam stock market data, we hope to launch a real-time Vietnam stock market data service in Vietnam and globally in the next few months. Besides meeting the needs of Vietnamese investors, our service will meet the pent-up demands of many international investors looking for a trusted source of Vietnamese market information.
With initial funding from the former National Science and Technology Board of Singapore Government, NextVIEW has developed a powerful set of trading tools which have been adopted by 70% of stockbrokers in Singapore and thousands of active investors in 15 countries. Last month, the listed Financial Technologies Group, which owns India’s largest commodity exchange, MCX, announced a partnership with NextVIEW to launch real-time India Equities and Commodities service in India and globally. Around the same time, Tokyo based trading systems vendor. Metabit Japan, announced a strategic partnership with NextVIEW to launch a multi asset and multilingual real-time information and direct market access order routing service for institutional traders in Japan, Korea, Greater China China, ASEAN, South Asia and Australia.
NextVIEW hope to bring the best practices in Data Services from around the world to share with Dr Sinh and his team members at HoSTC.
- The reliance of rumors and hearsays to make investment decisions, e.g, which stocks to buy, is characteristics of every emerging stock market. In fact, even in supposedly more mature markets like Singapore, Malaysia and Thailand where NextVIEW has an active local presence, many investors still depend on subjective data like tips from friends and family to make decisions which often lead to heavy losses. Besides running investment seminars in China, India, Pakistan and Hong Kong, NextVIEW has been conducting regular investor education programs in English, Chinese, Thai languages for the past 5 years in partnership with Singapore, Malaysia and Thailand Exchanges. With this MOU, we hope to co-develop with HoSTC investor education programs in Vietnamese language that will be customized for the Vietnamese Market. We hope to introduce the proven principles of investing and trading to help raise the knowledge and sophistication of Vietnamese investors to international standards.
- The Vietnam Stock Market has been one of the hottest stock market on earth over the past 2 years and Ho Chi Minh Securities Trading Center has attracted a lot of international attention. Many international Exchanges, such as SGX, Bursa Malaysia, Thailand Stock Exchange, Prague Stock Exchange has signed MOU’s with HoSTC to promote information exchange and mutual cooperation on exchange to exchange level with many more to come.
As a leading organizer of large scale regional financial conferences and investment fairs across Asia, we hope to work with HoSTC to promote Vietnam Stock Exchange as a desired investment destination among international institutional and retail investors. Our Asia Trader and Investor Convention (“ATIC”) events held in Kuala Lumpur and Singapore during March and April attracted more than 7000 investors and traders in each city. Dr Sinh and some of his team members who were present at the ATIC event in Singapore could see that there were a lot of interest from Singapore-based investors to invest in Vietnam Securities Market.
We are pleased to announce the launch of Asia Trader and Investor Convention @ HCMC during 26-27 May 2007 which aims to attract more than 3000 investors to the 2 days investor event which will feature more than 30 seminars conducted by about 20 local and international financial experts. As Co-Organizers of ATIC@HCMC, HoSTC and NextVIEW will invite about 100 fund managers, senior executives from international exchanges and securities brokerage firms and high net worth investors to participate in the Opening and Networking Sessions of the ATIC@HCMC and one day study tour on Friday, 25 May 2007.
In conclusion. I would like to thank Dr Sinh and his team for giving NextVIEW the opportunity to join HoSTC on this exciting journey of building an innovative, progressive and globally recognized stock exchange.
Thank you
