Vietnam may allow HOSE brokers to vouch for foreign investors rather than waiting for confirmation funds are available to settle stock market transactions, Reuters is reporting. This delay in settlement on the grounds of confirmation of funds is one of two key hurdles the HOSE needs to fix before it can be upgraded, FTSE Russell has said. The other is ensuring all documentation and reporting is done in English.
Interesting point of note: the HOSE accounts for 38 percent of total capitalisation of countries on the frontier index.
See also: Crunch-time approaching for Vietnam’s stock market status upgrade goal