.jpg)
The Stock Exchange of Thailand (SET) congratulates the Ho Chi Minh City Trading Center, which has become Vietnam’s first stock exchange and been renamed Ho Chi Minh Stock Exchange (HOSE). The Thai bourse has been actively supporting HOSE in IT development, helping develop an automatic matching system which became operational on July 30, 2007. A further step will be to make an online system for Vietnamese brokers to connect directly with its exchange.
SET President Ms. Patareeya Benjapolchai congratulated the upgrade from a trading center to exchange status of HOSE today in Ho Chi Minh City, Vietnam. The day marks a vital step of regional cooperation and competitiveness enhancement. SET and HOSE will continue to strengthen bilateral ties to attract investors into the region.
“SET and HOSE have discussed mutual cooperation in preparation for cross-border trading and listing, as well as dual listings. A plan in the pipeline includes front-end system development which will enable Vietnamese brokers to directly connect their system with HOSE, as similarly employed in Thailand. This should help HOSE accommodate more brokers and trading volume,” Ms. Patareeya said.
SET has been providing IT support to HOSE since 2000. Initially, trading orders on HOSE were matched on a single price auction basis. HOSE has been sending its personnel responsible for IT system, trading, and listed company supervision to visit SET and receive training. And, since the beginning of this year, SET’s IT staff have been with HOSE to help develop the bourse’s automatic order matching system.
“Mutual cooperation between the two exchanges will be gearing towards cross-border trading and listing, which should enhance attractiveness of both Thai and Vietnamese markets, and hence ASEAN region,” Ms. Patareeya concluded.
