|
Companies gear up for remote trading in city
The first stage in applying remote trading to brokerages in the Ho Chi Minh City Stock Exchange (HoSE) has gone smoothly, according to the city’s stock exchange deputy director Nguyen Manh Hung.
Three among seven qualified securities companies selected by the stock exchange on October 15 have officially started applying remote trading, a computer system that cuts out the middleman by letting businesses make orders via a computer system, not the stock exchange floor.
The three are the Saigon Securities Inc. (SSI), the ACB Securities (ACBS) and the Bao Viet Securities (BVSC).
From October 15, two trading representatives from each of the securities companies will stay in their offices instead of attending the HCM City bourse as before.
But despite experiencing no hiccups so far, companies are keeping all their representatives in the office.
”When we see the situation is stable, we’ll allow companies to withdraw all their representatives,” Hung said.
”The move will help ease pressure put on the stock exchange as increasing number of securities firms petition to be HOSE members,” the deputy added.
All seven companies will take this step before November 15.
ACBS deputy general director Nguyen Ngoc Chung said bringing representatives back to companies made little difference to the previous system but was a good way to prepare for full use of remote trading by the beginning of next year.
Companies connected to the HOSE will be able to offer full online trading services by the first quarter of 2008.
VNA
|
