The Ha Noi Securities Trading Centre (HaSTC) will focus on building the secondary market in a safe and efficient manner as one of its key tasks in 2007, a HaSTC executive said on Feb. 2.
HaSTC will put into operation a distant trading system, which will directly connect with securities companies, rather than conducting transactions at trading floor as at present so as to better meet the market's requirements and improve its operation efficiency, HaSTC's Director Tran Van Dung said.
Dung added that HaSTC will upgrade the existing bond trading system into a professional secondary system and will establish a network managing over-the-counter (OTC) transactions to help increase the efficiency of the management of unlisted share trading, reduce risks for investors and increase market transparency.
The director continued that his fledgling stock exchange, which began its operation in March 2005, has witnessed a robust growth in transaction scale and value with effective supervision and information announcement.
Within over a year, the number of businesses registered for trading on the Ha Noi stock exchange increased 14 fold, from six to 87, with a total registered capital of more than 11.3 trillion VND, he said, adding that the total value of the market also rose from 2 trillion VND at the beginning of 2006 to more than 73 trillion on Dec. 29, 2006.
Source: VNA
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