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Tan Viet Securities officially joins derivatives market
Tan Viet Securities Incorporation (TVSI) today officially introduced its derivatives products to investors at the Ha Noi Stock Exchange (HNX).
The company on August 23 became the 17th securities firm licensed by the HNX to participate in the derivatives market.
Other derivatives market members include VNDirect Securities Corp, SSI Securities Inc, HCM City Securities Corp and BIDV Securities Corp.
In late 2018, TVSI increased its charter capital to VND1.08 trillion (US$46.44 million) from VND500 billion to meet the required standards to operate on the derivatives market.
According to company CEO cum chairman Nguyen Tien Thanh, the derivatives market had made a big contribution to the development of the Vietnamese equity market.
“The strong growth of both market and product quality has made Viet Nam’s securities market more attractive to foreign investors,” he said.
Le Ngoc Nam, deputy director of market analysis and investment consultancy, said the derivatives market would remain an alternative for investors as the common stock market with the benchmark VN-Index was forecast to move sideways in the future.
Data showed that since the benchmark VN-Index fell from its all-time high of 1,204.33 points on April 9, 2018, derivatives trading had become more dynamic.
In the first seven months of 2019, daily average trading volume on the derivatives market was 104,424 contracts, up 78.2 per cent year on year.
The total number of trading accounts increased by 36 per cent to more than 78,400 from the end of 2018.
In the first six months of 2019, TVSI earned VND271 billion in revenue, up 110 per cent year on year. Its pre-tax profit jumped 71 per cent to VND66.5 billion in the January-June period.
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