Credit Suisse get Vietnam's approval to trade stocks and bonds

Credit Suisse has received approval from the Vietnamese authorities to trade domestic equities and government and corporate bonds, the bank said in a statement released last week.

The firm has been awarded the Securities Trading Code Certificates from the Vietnam Securities Depository, the central depository by the State Securities Commission, it said. The Securities Trading Code is required by all foreign investors seeking to purchase equity and fixed-income securities listed on the Hanoi Securities Trading Centre and the Ho Chi Minh City Securities Trading Centre.

Credit Suisse’s investment banking business has appointed Saigon Securities as its local broker for equities, and Ho Chi Minh City-based ACB Securities for fixed income products. Its asset management business has appointed Vietcombank Securities Ltd as its local broker.

Credit Suisse has been Vietnam’s ratings advisor since 2002, assisting the country in getting its first ever ratings from both Standard & Poor’s and Fitch. In 2005, Credit Suisse was the sole bookrunner of Vietnam’s $750 million debut sovereign bond issue.

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