Vietnamese stock exchange adopts Bloomberg’s FIGI to facilitate foreign investment
Vietnamese stock exchange adopts Bloomberg’s FIGI to facilitate foreign investment
The Ho Chi Minh City Stock Exchange (HOSE) has announced the adoption of the Financial Instrument Global Identifier (FIGI) on its website for all listed securities, to improve market transparency and to attract more foreign investors to its listed stocks.
Made available from May 4, the introduction of the FIGI alongside HOSE stock symbols and the ISIN Codes (Interntional Securities Identification Number) on the exchange, will create better accessibility of information for global investors.
Phan Thi Tuong Tam, chief executive of the Vietnamese listing platform, said that the adoption is a pioneering effort in applying international practices to facilitate and attract global investors to Vietnam’s stock market.
The FIGI is a unique 12-digit alphanumerical identifier developed based on Bloomberg’s Open Symbology (BSYM), a flexible and open system for identifying global financial instruments.
BSYM currently provides a library of 200 million unique identifiers for active and inactive securities, across all asset classes and is available free of licensing fees and restrictive terms.
By selecting the FIGI for its securities listings, HOSE has joined a growing number of global exchanges, many of which are located in emerging markets, who are using the FIGI for operational efficiency, cost reduction and greater accessibility of information where a lack of established identifiers exists,” said Peter Warms, global data manager for entity content, corporate actions and symbology at Bloomberg,
HOSE is one of Vietnam’s two stock exchanges, with a market capitalisation of $48 billion (according to the exchange’s calculation as of March 31), and 307 listed companies, including the giantsPetroVietnam Gas Corp, Vinamilk, property magnate Vingroup, consumer goods focused firm Masan Group and insurance/financial conglomerate Bao Viet Holdings.
In alignment with restructuring the local securities market, Vietnam is looking to merge its two stock exchanges, HOSE and the Hanoi Stock Exchange (HNX). The consolidation will see all listed shares move to HOSE, while the HNX will focus on the bond, derivatives and unlisted public companies (UPCoM) markets.
