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Stock trade via Internet growing fast
Brokers said stock trading via the Internet had grown fast since being launched early this year given the service's speed and convenience.
This service allows investors to place orders to buy, sell, cancel, or check their account balances via the Internet. Those orders go directly to the stock exchange's system without waiting for a pit-broker to manually type them. Investors know immediately if their orders are matched. The Hochiminh Stock Exchange approved online trading early this year.
Au Viet Securities said its online trading solution, AuTrade, had been launched in April and now accounted for one-third of the company's orders and trade volume.
Pham Thi Bao Ha, head of the company's marketing division, said that online trading was the most important factor when investors opened accounts at Au Viet Securities Co.
Nguyen Thanh Nam, director of information technology of Small and Medium Enterprises Securities Co. (SMES), said that up to 75% of the transactions at the company were made via the Internet and that new accounts had increased by 300% after one year of providing this service. "SMES has defined online trading service as the key to company growth."
Trading via the Internet at SMES costs half as much as filling in order forms or making phone calls because the cost of an online transaction is so cheap, said Nam.
Other brokers providing online trading services such as Dai Viet Securities Co. and Viet Dragon Securities Co. said trading via the Internet made up one-third of their total trading volume.
Nguyen Manh Hung, deputy general director of the Hochiminh Stock Exchange, said that among the 100 securities company members of the exchange, 84 were participating in online trading with the exchange, meaning they do not need pit-brokers at the bourse. However, only 50 out of 84 companies can provide the service allowing investors to make transactions via the Internet. But most big brokers can provide this service, he added.
Hung said up to 47% of the orders sent to the exchange in July were made via the Internet. "That was a good rate for a new market like Vietnam," he said.
VietNamNet, SGT
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