Illustrative image (Photo: telegraph.co.uk)

Seoul (VNA) – The Republic of Korea Exchange (KRX) will sell a securities trading system to Vietnam in May, according to the agency’s press release issued on February 29.

Head of KRX Choi Kyung-soo will come to Vietnam in late March to sign a 28-million-USD contract to sell an integrated information technology system that monitors transactions, payments and the securities market to the Southeast Asian country.

The system is expected to be officially transferred to Vietnam in the first half of this year.

KRX said this is the first time it has sold such a system to another country. It will continue to bolster cooperation in related fields with Vietnam.

So far, KRX has gained 12 contracts with six countries on establishing an electronic securities trading system, including Malaysia, the Philippines and Azerbaijan.

It was established in January 2005 through the merger of the Korea Stock Exchange (KSE), the Korea Futures Exchange (KOFEX), the KOSDAQ market and the KOSDAQ Committee. It is the only exchange in the Republic of Korea.

KRX operates the centralised securities and derivatives markets where stocks, bonds and derivatives are traded on a common platform called EXTURE.-VNA