DSTi signs Vietnam's Sacombank
29 May 2007 | 1621 views | 0
Source: DST International
DST International (DSTi), a leading provider of software solutions to the investment management, work management and securities industries announced today that Sacombank Securities Company in Vietnam has signed agreements to implement DSTi’s Equities Trading Solution (ETS) and Back Office Solution for Trading (BeST).
Sacombank Securities Company started its operations in the fourth quarter of 2006 and has quickly become a market leader in securities trading throughout Vietnam.
Mr. Nguyen Ho Nam, General Director of Sacombank Securities Company, said, "We chose DSTi's Trading Solution for both front and back office as it best meets our requirements to operate our country-wide securities trading activities with the Ho Chi Minh City Stock Exchange, Hanoi Securities Trading Center and over the counter market."
"DSTi has made a significant commitment to the Vietnam market, already has several customers in Vietnam and is setting up an office in Ho Chi Minh City. We will have excellent local services and support from DSTi to grow our business well into the future. We are also confident in DSTi's ability to deliver leading-edge solutions given DSTi's track record and outstanding reputation both in Asia and globally," continued Mr. Nguyen.
Rhonda Lepsch, CEO for the Asia Pacific region at DSTi said, "We are delighted to have Sacombank Securities Company as our first brokerage client in Vietnam. DSTi and Sacombank have been working very closely since last year to develop our Trading Solution to assist in meeting the Vietnam market regulations for both the front and back office. Now is the right time for us to move forward and implement our Trading Solution in Vietnam.
DSTi's Trading Solution is expected to provide Sacombank Securities Company with a significant number of benefits including the ability to help manage risk, respond in a timely fashion to customer demand and manage all trades centrally, even when they are placed from remote branches from other cities in Vietnam."
Ms. Lepsch continued, "We believe the Vietnam market holds a lot of potential for DSTi and we have made a significant commitment to the market by setting up an office in Ho Chi Minh City. The Ho Chi Minh City office will provide full services ranging from sales, implementation and support to our local Vietnamese clients. DSTi has been operating in the Vietnam market since 2000 when we assisted the Ho Chi Minh Securities Trading Centre to implement its exchange order matching solution. DSTi now has six clients in Vietnam and we expect this number to grow significantly during the next few years."