Taipei, May 27 (CNA) The Taiwan Futures Exchange (Taifex) and the Hanoi Stock Exchange (HNX) signed a memorandum of understanding (MOU) in Taipei Monday, as Vietnam is planning to establish a derivatives market.
"We are pleased to cooperate with HNX to better serve the markets of Taiwan and Vietnam, and to share our experience in business development, trading and clearing mechanisms, as well as product design through training program for practitioners from Vietnam," said Taifex Chairman Tony Fan at the signing ceremony.
Meanwhile, HNX Chairman and CEO Tran Van Dzung, who is in Taipei for the signing, said a five-day training session for five of his staff members that started right after the ceremony is "vivid proof of the strong commitment of our two exchanges to a long lasting and effective collaboration."
Vietnam has two stock exchanges -- the HNX in the capital and one in Ho Chi Minh City -- but does not have a market for derivatives, Fan said.
The state-run Hanoi bourse was established in 2005 and currently handles the trading of shares of listed firms and unlisted public companies, as well as government bonds.
The signing ceremony was witnessed by Vu Bang, chairman of Vietnam's State Securities Commission, and Bui Trong Van, chief of the Vietnam Economic and Cultural Office in Taipei.
The Taifex, which was set up in 1997, has similar partnerships with 21 other exchanges around the world, according to its official website.
(By Chao Hsiao-hui and Kay Liu)