PDA

View Full Version : Securities commission asked to lower trading fees



BTA
07-05-2008, 02:09 PM
The Vietnam Association for Securities Businesses has asked the State
Securities Commission to lower the trading fee for securities firms to
help overcome the recent sombre mood of the exchange.

The
association suggested that the fee be reduced from 0.05 percent to
0.01-0.02 percent. If the gloomy atmosphere of the market continues,
the association suggested lifting the trading fee completely.

“Recently,
securities firms began reducing trading fees. They are having problems
attracting more investors with trading in such a sombre state,” said
Nguyen Thanh Ky, general secretary of the association.

Ky also
noted that the fee reduction would protect securities firms from major
losses and have a positive impact on the stock market.

Securities
firms have been reducing trading fees, with some companies lifting the
fees altogether. Unfortunately, the number of investors coming to the
market continues to decrease.

An official from the Market
Development Department under the State Securities Commission said that
the commission was taking the proposal into consideration. It will draw
a detailed plan on trading fees soon.