Seoul to export stock trading system to Vietnam

Seoul to export stock trading system to Vietnam

Korea Exchange, the operator of the main South Korean bourse said Monday it plans to export its integrated information technology system for stock trading to Vietnam this year.

KRX chief Choi Kyung-soo is planning to visit Vietnam around the end of next month to sign a $28 million contract with the Southeast Asian country to sell the bourse’s integrated trading platform, including trading, settlement and market oversight.

“This will be the first case for the KRX to sell the whole stock trading system to a foreign country,” a KRX official said.

So far, Seoul‘s bourse operator has won a total of 12 contracts with six countries on the establishment of a market-related system, including in Malaysia, the Philippines and Azerbaijan.

Other markets, such as Iran, are also included on KRX’s list of potential export destinations.

Last month, the U.S. and the European Union removed decades-long economic curbs on Tehran on the heels of its landmark deal on nuclear armament with Washington, which opened the oil-rich nation’s market.

Source:   http://www.koreaherald.com/view.php?ud=20160229000803

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