Home brokerage firms still dominate market

January 08, 2011 | 16:37

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Ho Chi Minh Stock Exchange released its annual report this week on the market share of securities companies’ members.

Thang Long Securities (TLS) continued to be in first position, followed by Saigon Securities Inc (SSI) like 2009’s result. The two firms cover 10.04 per cent and 8.94 per cent the market, respectively.

The large market shares are held by big home securities companies. Among them are securities arm of homeland big institutions, namely Sacombank, Asia Commercial Bank, the giant insurance Bao Viet Holding and the giant technology FPT Corp.

Only two foreign firms Ho Chi Minh City Securities (HSC), jointly held by England’s Dragon Capital and Singapore’s Kim Eng Securities Vietnam are ranked in the 2010 top 10, holding 7.02 and 2.32 per cent market shares, respectively.

This performance of foreign securities companies is unchanged as compared with 2009, despite the prominent trend for 2010 of offshore brokerage firms to tap Vietnamese market via merger and acquisition, which was said to challenge domestic firms once the nation totally open its market in January 1, 2012 deadline under World Trade Organization commitments.

Those 10 firms’ market shares accounted for 50.14 per cent of the entire market. The half remaining is held by more than 90 other brokerage firms.

By Hai Linh

vir.com.vn

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