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SSI tops brokers; SSC denies rumours   2009-02-24 - VietNamNet/Viet Nam News

Saigon Securities Inc held the largest market share among stock brokerages in the northern market last year, with 6.94 per cent, according to the Ha Noi Securities Trading Centre, as quoted in the Investment Review yesterday.

ACB Securities and Bao Viet Securities were runners-up, holding 6.92 and 4.87 per cent of market share, respectively.

In bond transactions, Vietcombank Securities were far-and-away the market leaders, with 47.36 per cent, followed by ACB Securities and Saigon Securities Inc.

During 2008, the Ha Noi Securities Trading Centre admitted 20 securities firms, bringing its membership to 89 brokerages.

None were under risk of bankruptcy, a State Securities Commission representative confirmed this week.

"The major challenge for securities firms now is capital requirements, but this matter is not as bad as rumoured in the market," said Nguyen Thi Thuc Anh, deputy head of the commission's business management department.

About 20 securities firms have completed the process of meeting new higher capital requirements.

If a brokerage were to appear unable to survive the market downturn, the commission would put it under close observation and block the firm's assets for investor safety, Anh said.

"We are also planning to set up a supervisory team to support securities firms with capital requirements and restructuring," she said.

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