Ha Noi Stock Exchange has achieved a twenty-fold increase in market capitalisation in five years, with the value rising from VND1.5 trillion (US$83.3 million) to VND30.5 trillion ($1.7 trillion).

The result were announced by the stock exchange at its 1,000th session yesterday, November 18.

The number of listed companies had increased from six to 238.

"Companies have mostly shown positive business performances after listing," exchange general director Tran Van Dung said.

Market trading value had grown from an average of VND2 billion (US$111,111) a day in July 2005 to VND778.8 billion ($43.3 million) a day now.

Government bond trading had broadened from seven in 2005 to 508 codes now.

Bonds trading value has risen from VND78 billion in 2005 to VND80.1 trillion.

"The growth was a basis for the establishment of a separate trading floor for Government bonds in September," Dung said.

Trading had increased from three to four sessions a week, the trading band had become more flexible and a quotation method had been added to the negotiation method.

"During the five years, we achieved improvement in the technical system," Dung said; pointing to the remote trading connection which provided flexibility and saved time and money for securities firms.

Now 92 securities companies were connected online, cutting out representatives in the exchange, with remote trading accounting for nearly 80 per cent of trading activities.

"We are now building a trading system, allowing investors to trade online instead of coming to the floors," Dung said.

The system would be trialled in December and would operate in the first quarter of next year.