FTSE Russell and Morgan Stanley: Stock market upgrade bid receives positive response
The delegation of FTSE Russell and Morgan Stanley said that major clients of these organizations all had positive feedback and highly appreciated the determination and efforts of the Vietnamese Government.
 |
| Delegation of FTSE Russell and Morgan Stanley at the working session. Photo: TT&QHCC |
At the headquarters of the State Securities Commission (SSC), Chairwoman Vu Thi Chan Phuong chaired a meeting, worked and exchanged information with the delegation of FTSE Russell and Morgan Stanley on upgrading the Vietnamese stock market on the afternoon of April 11.
Attending the meeting, on behalf of FTSE Russell were Ms. Wanming Du – Head of Index Policy, Asia Pacific (APAC); Mr. Chris Williamson – Head of Asia Pacific, Index Investment Group. On behalf of Morgan Stanley, there were Ms. Stella Jaeger – Co-Head of Capital Markets, Southeast Asia; Mr. Young Lee – Managing Director, Asia, Institutional Markets; Mr. Kapil Trikha – Managing Director, Southeast Asia; Mr. Pankaj Mataney – Head of Asia, Index Strategy and Trading Platform; Mr. Amitabh Chatterji – Head of India/ASEAN Swaps.
On the side of the State Securities Commission, leaders of the State Securities Commission, leaders of the Vietnam Stock Exchange, the Securities Depository and Clearing Corporation, leaders of a number of units under the State Securities Commission and members of the market upgrading working group attended.
At the meeting, Chairwoman Vu Thi Chan Phuong provided information on the achievements of the Vietnamese stock market in recent times. At the same time, the leaders of the State Securities Commission shared the policies that the Government and the Ministry of Finance of Vietnam have been implementing to promote the development of the stock market and create the most favorable conditions for foreign investors to participate in the Vietnamese financial market.
Representatives of the State Securities Commission and the delegation of FTSE Russell and Morgan Stanley discussed to better understand the content of the draft Circular amending and supplementing a number of articles of the Circulars regulating securities transactions on the securities trading system, clearing and settlement of securities transactions, operations of securities companies and information disclosure on the stock market. In particular, the draft includes content related to pre-funding that the Ministry of Finance is developing, widely soliciting opinions in writing and through the mass media.
Sharing at the working session, the delegation of FTSE Russell and Morgan Stanley said that the major customers of these organizations all had positive feedback and highly appreciated the determination and efforts of the Vietnamese Government, as well as the state management agency of securities and the Vietnamese stock market, which have been implemented in the past time to achieve the goal of upgrading the stock market from a frontier market to an emerging market.
The Chairman of the State Securities Commission affirmed that the agency is ready to exchange with FTSE Russell and Morgan Stanley both online and in person to continue sharing more useful information for investors about the Vietnamese stock market.
In addition, improvements to the account opening registration process are required as market practices can cause delays in account opening registration. The introduction of an effective mechanism to facilitate transactions between foreign investors trading securities that have reached or are close to the foreign ownership limit is also considered an important measure.
However, this organization highly appreciates Vietnam's determination to upgrade to emerging market status as it has been consistently maintained since the annual assessment announcement in September 2023.
Source
Comment (0)