Japan's Tokyo Stock Exchange (TSE) and the Hanoi Stock Exchange (HNX) in Vietnam have signed a memorandum of understanding (MOU) to develop collaborative bonds between the two exchanges.
The MOU is intended to promote cooperation in information technology and trading systems, through the exchange of IT personnel and information.
“IT strategy, particularly in relation to trading systems, has become essential to the development of a securities exchange,” said Atsushi Saito, president and CEO of TSE Group. Citing the launch of the TSE's low-latency Arrowhead trading platform earlier this year, Saito added that the TSE hoped to use its experience and knowledge of IT to “support the development of Hanoi Stock Exchange and invigorate the capital markets of both Japan and Vietnam”.
“To enter into an MOU with TSE is our great honour, and we are definitely confident that HNX can learn much from TSE,” said Tran Van Dzung, CEO of Hanoi Stock Exchange.
The Hanoi Stock Exchange, formerly known as Hanoi Securities Trading Center, officially came into operation in March 2005. HNX is a state-owned, single-member, limited liability company, responsible for organising securities markets. The exchange runs three separate markets for listed stocks, government bonds and securities of unlisted public companies.
Hanoi is Vietnam's second largest bourse after Ho Chi Minh Stock Exchange.