Sub-Custody and Clearing in Vietnam

HSBC is the first foreign bank to be granted a custodian licence in Vietnam. As the leading market player, we are the only licensed custodian bank in Vietnam that has developed the infrastructure to provide effective sub-custodian services in Vietnam. HSBC was closely involved with the State Securities Commission (SSC) in helping establish Vietnam's first stock exchange in Ho Chi Minh City. We helped train SSC staff and influenced the design of market infrastructure, procedures and regulatory framework. HSBC continues to assist the authorities to develop a stronger legal framework for the securities industry, and to clarify the securities-related tax law and foreign exchange remittance regulations. We are active in lobbying for changes in market practice and regulations to protect foreign investors' interest. We have frequently provided information and comments to the regulators on various issues such as foreign exchange control, corporate action practices, clearing and settlement procedures. We are now working closely with the Vietnam Securities Depository (VSD) to develop the securities market infrastructure and make it more friendly to foreign institutional investors.

In recognition of our commitment to the Vietnam market, HSBC has been ranked Number 1 in Global Custodian magazine's Review of Agent Banks in Emerging Markets. We have also been voted as the Best sub-custodian bank in Vietnam in 2008 by 'Global Finance' magazine.

For more information on HSBC's Sub-Custody and Clearing services, please contact our customer relationship management teams.

Awards:

• Global Custodian Survey 2007
  • Ranked 1 in the Leading Clients Category
• Global Investor 2007
  • Ranked 1 in the Weighted Clients Category
• Global Finance 2008
  • Best Sub-custodian in Vietnam and Asia
• Asia Investor 2007
  • Best Sub-custodian in Asia
• The Asset Triple A
  • Best Sub-custodian Bank in Vietnam in 2006
  • Best Sub-custodian in Asia in 2007