PetroVietnam Securities brokerage serves affiliates

VNStockNews.com - PetroVietnam Securities Inc yesterday signed a collaboration deal with PetroVietnam Finance, Petro-Vietnam Insurance and Ocean Bank for securities services provisions and financial administration.

Under the deal, Petro-Vietnam Insurance would help insure securities trading for products made by Petro-Vietnam Securities, while Petro-Vietnam Finance would support the securities with financial arrangements for its investments.

Meanwhile, Ocean Bank would help the company manage its capital for trading payments, as well as supply PetroVietnam Securities’ clients with lending.

PetroVietnam Securities, however, would be a provider of securities services for these enterprises, which would include market research for feasible investment plans.

These enterprises will also work together in order to expand branches and market shares in the future.

The securities company, on the same day, launched a new service package for online trading.

The package, in collaboration with Korea-based Tong Yang, includes different products for institutional and individual investors, as well as for the company’s potential clients and staff. In addition, it also allows users to access analysis charts, SMS trading options, and online information gateways.

"The launching of this new service package is one of three targets PetroVietnam has set for PetroVietnam Securities for it to consider during the equitisation process," said Nguyen Tien Dung, deputy general director of PetroVietnam.

In addition, the launching of these packages would help support PetroVietnam Securities to complete the year’s target, which includes widening its capital base to VND500 billion (US$28.1 million) and listing shares in the stock exchange, said Bui Ngoc Thang, general director of this company.

Along with the introduction the of new service packages, PetroVietnam Securities officially connected to HCM City Stock Exchange’s remote trading system.