Saigon Securities Tops Vietnamese Brokers in 2008
Saigon Securities Incorporation (SSI) held a 6.94 per cent market share, taking the lead among stock brokers in the northern stock exchange, the Hanoi Securities Trading Center (HASTC) in 2008.
ACB Securities and Bao Viet Securities were runners-up, holding 6.92 per cent and 4.87 per cent of the market share, respectively.
In bond transactions, Vietcombank Securities Co. took the lead with 47.36 per cent, followed by ACB Securities with 16.7 per cent and SSI with 11.81 per cent.
The HASTC admitted 20 securities firms during 2008, bringing its membership to 89 brokerages, with none of them under risk of bankruptcy.
“The major challenge for securities firms now is capital requirements, but this matter is not as bad as rumored in the market,” said Nguyen Thi Thuc Anh, deputy head of the State Securities Commission’s Business Management Department.
About 20 stock brokers have finished the process to meet new higher capital requirements. Anh said if a broker were unable to survive the market downturn, the commission would put it under close observation and block the firm’s assets for investor safety.
“SSC is also planning to set up a supervision team to support securities companies with capital requirements and restructuring,” she added. (Securities Investment, VNS)
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