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The Korea Exchange (KRX), the securities exchange operator in South Korea, has signed an agreement to help Vietnam improve information and technology capacity to better manage its stock market.
Under the deal with the Ho Chi Minh City Stock Exchange, the KRX will offer an IT platform aiming to meet the entire requirements for Vietnam's stock trading, including market information, surveillance, settlement, and depository and registration, according to the Korea Times.
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IT infrastructure of Vietnam's stock market will be improved thanks to supports from the South Korean operator. Photo from VnExpress/H.H |
The system, which will also be used in the Hanoi Stock Exchange, is expected to be completed in two years. The value of the deal has not been disclosed.
“The close alliance and cooperation will not only make this project a success, but lay a firm foundation for further collaboration in the future,” KRX CEO Jeong Chan-woo was quoted as saying.
Since 2007, KRX has provided IT solutions and systems to several other regional countries such as Malaysia, the Philippines and Thailand.
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