S. Korea to sell stock trading system to Viet Nam

Monday, Feb 29, 2016 15:36

Korea Exchange plans to sell a stock trading system to Vietnam. — Photo cafef.vn
SEOUL — South Korea's bourse operator said Monday it plans to export its integrated IT system for stock trading to Viet Nam this year.

According to the Korea Exchange (KRX), its chief Choi Kyung-soo will visit Viet Nam around the end of next month to sign a US$28 million contract with the Southeast Asian country to sell the bourse's integrated trading platform, including trading, settlement and market oversight.

The KRX said the project is expected to be launched in the first half of this year.

"This will be the first case for the KRX to sell the whole stock trading system to a foreign country," a KRX official said. "We will actively push for joint projects further with Vietnam in related fields."

So far, Seoul's bourse operator has won a total of 12 contracts with six countries on the establishment of the market-related system, including Malaysia, the Philippines, and Azerbaijan.

"We will also make more efforts to advance into overseas markets, including Iran," the official said.

Last month, the U.S. and the European Union removed decades-long economic curbs on Tehran on the heels of its landmark deal on nuclear armament with Washington, which opened the new market for the oil-rich nation.— Yonhap

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