Solutions for developing the securities market

According to securities experts, current operating margins are not providing the securities market with liquidity. If previous margins are restored, it will create greater liquidity for mortgaged shares.

A seminar to seek solutions for developing the securities market was held in Hanoi on May 29 by the Vietnam Association of Securities Business (VASB).

Participants focused their discussions on operating margins at the Hanoi Securities Trading Center (HASTC) and the HCM City Securities Trading Center (HoSTC).  Representatives from securities companies underscored the need to adjust operating margins to the previous levels of 2 percent for the HASTC and 1 percent for HoSTC.

A representative from the Tan Viet Securities Company said the crux of the matter is how to ensure the openness and transparency of transaction activities rather than focusing on operating margins.

Mr Nguyen Hoang Hai from the Vietnam Association of Finance and Investment (VAFI) said that if operating margins are reduced to 1 percent, it will help prevent speculation and regain investor confidence. When the securities market was recovered, the margins will be loosened.

At the seminar, securities investors and companies also debated issues relating to incorporate income tax exemption for securities investors and companies, fee reductions for securities companies and the decisive role played by the State Securities Commission (SSC).

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