NASDAQ to help develop Vietnam's stock market
25/9/2008 17:08
US stock exchange NASDAQ OMX Group Inc. will help Vietnam's major stock
exchange Ho Chi Minh City Stock Exchange (HOSE) to strengthen the
infrastructure, efficiency and liquidity, The Youth reported today, citing a
source with the HOSE.
According to an agreement signed by the two companies,
the HOSE will be able to access NASDAQ OMX's technology, expertise and services
to improve infrastructure that can help drive liquidity and attract more
investors to the exchange.
"The agreement with NASDAQ OMX aims to foster
closer ties between our organizations, and to establish a channel for
information exchange in the area of system operations, regulatory framework,
cross-listing and product development," said Nguyen Doan Hung, Chairman of the
HOSE.
"The HOSE has experienced strong growth over the last few years, and we
are excited to play an integral part in enabling them to take the next step in
becoming a leading Asian marketplace," said a NASDAQ's official.
The HOSE is
the biggest stock exchange in Vietnam, with about 160 stocks trading every day.
Its turnover stood at about US$30 million yesterday.
Xinhua
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