The larger of Vietnam’s two stock exchanges (HOSE) provides perspective regarding control of the public equities market in Ho Chi Minh City as it ranks trading firms by brokerage market share.
The largest trader is Saigon Securities (12%), largely because it tends to be the brokerage of choice for foreign investors. Second is Thang Long Securities (9%), followed in order by Sacombank Securities, ACBS, FPTS, VBPS, Bao Viet Securities, VPBank Securities, Hoa Binh Securities, and VNDirect Securities.
Overall, the largest ten firms placed 52% of the trades in Saigon in the first quarter of 2011. A large number of smaller also participate in Vietnam’s frontier securities exchanges.