Vietnamese broker VNDIRECT has been added to a connectivity network of Fidessa group, the global provider of trading, investment and information solutions for the world's financial community. Photo thesaigontimes.vn

HA NOI (Biz Hub) – Fidessa group, the global provider of trading, investment and information solutions for the world's financial community, has added its first Vietnamese broker, VNDIRECT, to its connectivity network.

With this move, the members of Fidessa's global trading and investment community can access the Vietnamese stock market directly, or with the support of VNDIRECT's special execution capabilities. It also marks a milestone in electronic trading in Viet Nam, enabling automated, real-time execution of Vietnamese orders via a standardised FIX protocol and stripping out the inefficiencies associated with the manual trading processes.

Earlier, brokers in Singapore, Malaysia and Thailand joined the network which provides connectivity to more than 3,700 buy-sides and 790 brokers across 200 markets globally. Each month, the network carries flow with a value of around US$1 trillion. Fidessa's products serve around 24,000 users at 950 clients worldwide and are used by 85 per cent of the tier-1 financial institutions.

Nguyen Dinh Phong, head of Institutional Services of VNDIRECT, told Biz Hub that the company was chosen by Fidessa for its state-of-the-art technology platform and robust trading system.

VNDIRECT was the first securities company in Viet Nam to offer trading and execution services over Bloomberg EMSX in early 2013.

Phong said that the Vietnamese stock market has bottomed out recently. The market turnover is especially high in the Q1 of 2014. Viet Nam's equity has become attractive again for traders and investors locally and offshore due to high growth, reasonable valuation and good market liquidity.

However, at the same time he also saw many investors who wanted to invest in the local market. However, the accessibility issues such as foreign ownership limits or the slowness in account registration and the efficiency of capital market operations put these plans on hold.

Phong believed that the Fidessa connectivity would bring a new influx of foreign indirect investment money into Viet Nam and his company would benefit from the move as one of the leading brokers in Viet Nam in terms of market shares, research and execution capabilities.

The connectivity would also benefit clients who are using Bloomberg and Fidessa, thanks to its convenience and efficiency in routing orders to their existing trading terminals, Phong said. — VNS