SEOUL, Oct. 19 (Korea Bizwire) – South Korea’s stock market operator said Wednesday it has signed a contract with its Vietnamese counterpart to set up the IT infrastructure for the Southeast Asian nation’s equity trading.
Under the deal with the Hochiminh Stock Exchange (HoSE), the Korea Exchange (KRX) will offer a set of programs based on a next-generation system, called EXTURE Plus, to meet the entire requirements for Vietnam’s stock trading, including market information, market surveillance, clearing & settlement and depository & registration.
The KRX’s system will be used in the HoSE-affiliated Hanoi Stock Exchange as well.
The agreement represents a “significant milestone to both capital markets and will further solidify the critical strategic partnership that exists between both countries,” said the KRX.
It’s expected to take two years to complete the project, it added but stopped short of immediately revealing the exact value of the contract.
“All related officials are on a business trip to Vietnam. The specific figure will be available when they return to the office,” a KRX official said.
The KRX has already exported its advanced IT-related skills to Malaysia, Cambodia, Laos, the Philippines, Uzbekistan, Thailand and Azerbaijan.