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Securities companies do extra jobs to get more money   2009-03-17 - VietNamNet/VnMedia

More and more difficulties have been burdening securities companies as the stock market continues falling and investors have left trading floors for new business. Securities companies nowadays have to do extra jobs in order to earn more money, which can help them survive the difficult period.


Encouraging investors to find more… investors


The website of Phu Gia Securities Company

The falling stock market has led to deserted trading floors, which has put securities companies in a difficult situation. In order to lure more investors, some securities companies have encouraged their existing clients to lure other investors to trading floors. If the existing clients can attract more investors, they will get attractive commissions.


FPT Securities Company informed, on its website, that it offers the attractive commission of 25-30% of the total transaction fees of the clients that the existing investors invite. If the existing clients can invite many more investors, they can nominate themselves to become a professional broker of FPTS and enjoy many other attractive benefits.


Hoang Gia Securities Company has also informed that once an investor invites another investor to open a transaction account at Hoang Gia, he will get 7% of the total transaction fees of the new investor.


The Director of a securities company said that securities companies now have to manage themselves in order to survive the current difficulties, and they need to do everything they can to get more services, which can bring about turnover.


Serving as order receiving agents for gold trading floors


The said director said that a securities company spends at least VND1.5-2.5 billion a month to run the company. This means that they will lose if they rely on the brokerage fees, which have become smaller and smaller due to the falling stock market.


Therefore, a lot of securities companies have become the order receiving agents for gold trading floors to earn extra money.


Nam Viet Securities Company has joined forces with AGC to open AGV gold trading floor, APEC Securities Company has joined forces with Wall Street to open APECT-Wall street trading floor.


To date, VGB has cooperated with 22 securities companies to set up order receiving agents. VGB is now negotiating with six more securities companies to open more agents that will receive investors’ orders for the transaction centre.


Johan Nyvene, General Director of HSC Securities Company, said that his company has accepted becoming an agent for VGB.


“The cooperation between gold trading floors and securities companies will bring benefits to both VGB and securities companies,” said Tran Xuan Hai, VGB General Director. VGB will have more investors, while securities companies can get more income while they do not have to spend more money on material facilities and employees.

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