Laos, Vietnam boost stock exchange cooperation
The Lao Securities Exchange will partner with Vietnam's Hanoi and Ho Chi Minh City stock exchanges to upgrade the Lao stock exchange with a view to closer regional integration.
A memorandum of understanding to this effect was signed in Vientiane on Friday by Lao Securities Exchange CEO Assoc. Prof. Dr Dethphounvang Moularath, Hanoi Stock Exchange CEO Mr Tran Van Dzung, and Ho Chi Minh City Stock Exchange Chairman Mr Tran Dac Sinh.
The ceremony was attended by Vietnam's Deputy Minister of Finance Mr Tran Xuan Ha, Vietnam Ambassador to Laos Mr Nguyen Manh Hung, Vietnam State Securities Commission Chairman Mr Vu Bang and Secretary General, Head of the Lao Securities Commission Office Ms Vathana Dalaloy, along with other high-ranking officials from the three parties.
The tripartite cooperation will enable the sharing of information and technical exchanges on securities trading in both countries and will allocate areas of cooperation concerning securities work.
The parties involved believe their cooperation will be a useful contribution to socio-economic development. Their cooperation will also develop the Lao Securities Exchange in the run up to the creation of the Asean Economic Community in 2015, and will enhance the relationship and special cooperation between Laos and Vietnam.
On the same occasion, the Lao Securities Exchange introduced the Home Trading System (HTS).
The online trading system has been developed by the Lao Securities Exchange to encourage more people to trade and boost market liquidity. It will make it much easier and quicker for people to buy and sell shares, as anyone with an Internet connection can use it.
The HTS functions in the same way as the stock market.
Investors can now choose whether to go directly to the Lao Securities Exchange to submit orders for the purchase and sale of stocks, trade online, or email a broker.
Investors can also check stock prices during trading hours, check their cash balance and stock status by looking on the account activities screen, and also check their cash balance and stocks through the HTS.
The Home Trading System was prepared by a team that comprised the securities management commission, Lao Securities Exchange, ETL and the securities company, Dr Dethphounvang said.
The team was appointed in August 2011 to study the feasibility of the Home Trading System, and later declared it to be viable.
The Lao Securities Exchange has tested the system many times by making stock sales and purchases that proved to be accurate and speedy, using an Internet signal provided by ETL, he added.
The Lao Securities Exchange is now ready to use the system but is awaiting approval from the Lao Securities Management Commission.