Brokerages focus on service quality

HA NOI — Stock brokerages are focusing more on improving service quality and consulting services and less on building market share. They are upgrading technology and improving customer care and information services, says Tan Viet Securities Co deputy director Hoang Xuan Quyen.

"We won't run after market share at any cost," Quyen said. "We will focus on developing products and service quality in order to increase added-value to customers' investments."

SME Securities Co general director Pham Minh Tuan, while happy with his company's growing market share, said quality of accounts performance was more important, noting that 70 per cent of SME Securities' investor accounts were active and that transaction values averaged VND2.5-3 trillion (US$131-157 million) per day.

"The company is concentrating on technology to meet the rising demand for diversified services," said Tuan, noting SME Securities had established a remote trading connection with the Ha Noi Stock Exchange last year.

FPT Securities Co was also making heavy investment in technology, particularly a host-to-host system. Customers now could make investment decisions via internet or mobile phone, the company said.

Out of the top 10 leading securities firms, FPT Securities, which has operated for only two years, was already the sixth leading brokerage on the HCM City Stock Exchange and the fourth on the Ha Noi bourse. — VNS