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Banking & Finance

HNX signs MoU with Moscow Exchange

Released at: 14:16, 13/04/2018

HNX signs MoU with Moscow Exchange

Photo: HNX

MoU a bridge for cooperation between market members and investors from both countries when seeking opportunities and investments in Russia and Vietnam.

by Lan Huong - Doanh Doanh

The Hanoi Stock Exchange (HNX) and the Moscow Exchange MICEX-RTS (MOEX) signed an MoU in Moscow on April 10 on the occasion of the 22nd Moscow Exchange Forum, held annually by MOEX and attended by more than 1,000 government officials and representatives from ministries, corporations, and national and international investment funds.  

Ms. Nguyen Thi Hoang Lan, Vice Chairwoman and Acting Deputy CEO of HNX, said the MoU is an important step that will establish a bridge of cooperation for market members and investors from both countries in seeking opportunities and investments in Russia and Vietnam. MOEX is not only one of the biggest exchanges in Russia but also a center of ideas for the management of the country’s stock market and economy.

Vietnam’s stock market welcomes support for its development in areas where MOEX specializes, she added, such as investment fund product development, equity and debt product development, trading and monitoring systems, and corporate governance. Russian support has previously been forthcoming to Vietnam in its overcoming difficulties during the transformation and restructuring of its economy.

Mr. Alexander Afanasiev, Chairman of the Executive Board and CEO of MOEX, said the MoU will create new investment opportunities for Russian investors in Vietnam’s dynamic economy. Experience will be shared on the development of Russia’s stock market and market models operated by the stock exchange that bring economic efficiency.

Vietnam had become a leader in economic growth in the dynamic Asia-Pacific region, he went on, and he believes that the country’s stock market will continue to contribute to economic development. The current corporate strategy of MOEX is to expand and establish cooperation with new and dynamic markets in Asia.

According to the World Federation of Exchanges (WFE) and Bloomberg, MOEX is the world’s second-largest bond market, fifth-largest derivatives market, the 13th largest exchange in terms of market capitalization by equity, and is among the world’s Top 25 exchanges by total capitalization of shares traded.

The two parties held a working session after the signing of the MoU to discuss cooperation projects and share experiences in the operation of equity, bond, derivatives and commodities markets that are being efficiently conducted by MOEX.

MOEX also signed the Letter of Intent on strategic cooperation with the Kazakhstan Stock Exchange (KASE) on the same day.

The Moscow Exchange was established on December 19, 2011 from the merger of the two largest Moscow-based exchanges: the Moscow Interbank Currency Exchange (MICEX) and the Russian Trading System (RTS). It went public in February 2013 and trades on its own platform under the ticket “MOEX”. It conducts trading in equities, bonds, derivatives, currencies, money market instruments, and commodities. It has implemented reforms that simplify the listing process and brought it fully in line with international standards. Just as importantly, its new listing rules have strengthened corporate governance requirements for listed companies.

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