[INNEWS Comprehensive Report] On October 25, Sou Socheat, Director-General of the Cambodian Securities and Exchange Regulatory Authority, and Hong Sokhour, Director-General of the Cambodian Stock Exchange, signed an agreement to integrate the Cambodian Securities and Exchange Regulatory Authority’s online investment identification system with the Cambodian Securities Exchange. The exchange’s online securities trading account opening system was connected.
This move will save people time in transactions. They don’t need to wait. They only need a bank account with sufficient funds to conduct transactions anytime and anywhere. This new achievement not only provides convenience to the domestic public, but more importantly, it can attract foreign investors to enter the Cambodian market. This is an important turning point for the securities industry.
Sou Socheat said that the system plans to start testing in early November 2023 in the upcoming “My first Stock 2023” program. This plan will further promote stock market investment, welcome all investors who are willing to invest, and provide investment convenience to the public anytime and anywhere, whether they are domestic or foreign investors. By the end of 2022, the number of account holders has exceeded 30,000, and according to forecasts by the end of 2023, the number of opened accounts will increase by more than 10,000. In addition, for 2024, with the increasing number of account openings, the launch of investment identification systems and the opening of online securities trading accounts, we expect the number of account holders to reach 30,000 to 50,000.
Hong Sokhour pointed out that trading volume has dropped slightly in the last two months to below the daily average of $200,000, while about seven months ago, despite a slight decline, it still jumped to a daily average of nearly $300,000. “But we expect that more investors will participate in the future and transaction volume will further increase.” He said.