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| South Korea's stock market operator reported yesterday that it had secured a contract with its Vietnamese counterpart to set up the IT infrastructure for the Southeast Asian nation's equity trading. — Photo businesskorea.co.kr |
SEOUL (Biz Hub) — South Korea's stock market operator reported yesterday that it had secured a contract with its Vietnamese counterpart to set up the IT infrastructure for the Southeast Asian nation's equity trading.
Under the deal with the HCM Stock Exchange, or HoSE, the Korea Exchange will offer a set of programmes based on a next-generation system, called EXTURE Plus, to meet the entire requirements for Viet Nam's stock trading, including market information, market surveillance, clearing and settlement, and depository and registration.
The KRX's system will be used in the HoSE-affiliated Hanoi Stock Exchange as well.
The agreement represents a "significant milestone to both capital markets and will further solidify the critical strategic partnership that exists between both countries," said the KRX.
It's expected to take two years to complete the project, it added but stopped short of immediately revealing the exact value of the contract. — The Investor