VinaSecurities, a Ho Chi Minh City-based securities firm, and Australiaï¿½s Macquarie Capital Securities Ltd. signed a wide-ranging cooperation agreement on Wednesday.
The agreement gives Macquarieï¿½s clients access to Vietnam, one of Asiaï¿½s fastest growing markets. In exchange, VinaSecurities said its clients will now enjoy Macquarieï¿½s expert advice and leading presence in numerous global financial markets.
Representatives from VinaSecurities said the initial scope of the agreement enables Macquarieï¿½s clients to receive co-branded equity research focused on Vietnam and to trade in Vietnamese equities.
The domestic firm further claimed that the agreement includes exclusive partnering arrangements between VinaSecurities and Macquarie pertaining to inbound and outbound equity capital transactions, mergers and acquisitions, and other financial advisory work.
The deal covers both the Ho Chi Minh City and Hanoi stock exchanges.
ï¿½This is a landmark agreement in one of Asiaï¿½s most exciting and untapped markets,ï¿½ said Mark Duncan, head of the Australia-based Macquarie Securities Group, Asia. ï¿½Vietnam is an important market to us and the worldï¿½s institutional investors as they look to expand their investment horizons.ï¿½
VinaSecurities was established in 2007 as a subsidiary of the VinaCapital Group, the largest fund manager in Vietnam which oversees approximately US$1.8 billion in assets.
Original Post: Business >> Vietnamese, Australian firms expand access to domestic market