IT Consultants
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SWIFT SIBOS 2010
Sibos, the global event where you make essential business connections. Learn More.
Venue:
Amsterdam, The Netherlands
Date: 25-29 October 2010
Call: +65 6342-9060
Growth & Potential
In January 2009, the Vietnam Securities Depository (VSD) and SWIFT have signed an agreement to work together with the goal of moving the Vietnamese securities services industry towards achieving greater Straight-Through-Processing (STP). The joint initiatives will focus on the implementation of Swift solutions in Vietnam, such as a connectivity solution between the VSD and its depository members.
"SWIFT has helped many customers and many countries to achieve increased efficiencies. This too is our focus and aim for Vietnam,” he says. “We are very pleased with the progress our Vietnamese customers have made towards automation and we are committed to support this trend and together, we can do much more! The signing of this MOU today sends a clear message to the global community that the VSD and SWIFT are raising the bar on automation for the Vietnamese securities market,” commented Neil Stevens, Head of North Asia, SWIFT.
Most stock exchanges in the developed nations have implemented the scrip less Delivery-Versus- Payment (DVP) model built upon STP technologies and full SWIFT connectivity in line with G30 securities trading recommendations. In contrast, the stock exchanges in the emerging economies are just at the threshold of automating their trading processes. At this juncture, BLITZ is working closely with SWIFT in an exciting phase of VSD’s transition to an integrated STP-enabled trading platform. Nonetheless, much work needs to be done to replicate a similar automated trading model to the Vietnamese market. A stream of IT business contracts and infrastructural projects can be expected in the months ahead.
That said, there is a wide scope for connectivity, data security, automation and consultancy work, including government-funded projects in the region. Cambodia and Laos’ developmental efforts to build a basic financial system present vast IT opportunities in the future. This augurs well for network solutions and security providers in the industry.
Riding on the coattail of the continuing growth of Vietnam, Laos, Cambodia, Malaysia and the Philippines, albeit at a slower pace, BLITZ is confident of maintaining its growth momentum for 2009 and in the years ahead.
