New stock trading system from RoK in trial run from next week

A trial run of a stock trading system from the Republic of Korea, known as KRX, will be conducted from June 14 next week, Ho Chi Minh Stock Exchange (HoSE) announced on June 10.

New stock trading system from RoK in trial run from next week hinh anh 1

An investor follows stock movements on a computer screen. (Photo: VNA)


A trial run of a stock trading system from the Republic of Korea, known as KRX, will be conducted from June 14 next week, Ho Chi Minh Stock Exchange (HoSE) announced on June 10.

HoSE said from June 11, it will send technical specifications via a forum to securities companies.

From June 14 to July 23, a connection trial will be in place. After that, from July 26 to August 6, a functional trial will be applied. In these two trial phases, securities companies will be connected to the new system to freely experiment with its features. Trial time is from 8:30am to 3:00pm on weekdays.

The move aims to tackle system overloads which have troubled investors recently.

The implementation of KRX project was delayed last year due to the COVID-19 pandemic. HOSE would use all available resources to accelerate the implementation of the project this year, it said.

The new system is set up by HoSE with support from the South Korea Exchange, meeting the requirements for Vietnam’s stock trading, including market information, market surveillance, clearing, settlement and depository and registration.

The KRX’s system will be used on the HoSE-affiliated Hanoi Stock Exchange as well.

HoSE will work with the Korean side to trial KRX software installation, completing the WAN connection test with securities companies, performing market-wide data to be ready for the trial plan.

HoSE will also accelerate information security projects to improve the safety, security and confidentiality of the trading system.

Significant high trading volumes on HoSE recently have caused continuous system overloads, troubling investors.

Order cancellation

In order to ease the overload, the State Securities Commission instructed HoSE to temporarily stop the allowance of order amendments or cancellations during trading activities, reasoning that if these orders are stopped, the liquidity on HoSE will be eased by 30 percent.

Large securities companies on HoSE then simultaneously sent notices to customers and asked them not to cancel or amend orders during this period to minimise the risks.

An investor with more than 10 years of trading experience on the Vietnamese stock market said that, in a fair way, the investors have the right to cancel or amend their orders.

“However, the current HoSE system is not capable of handling such numerous orders, with liquidity reaching 25-30 trillion VND per session,” he said.

“Therefore, if too many investors cancel or amend orders at this time, it will lead to a lot of system errors, making HoSE collapse. If this happens, the consequences will be huge for Vietnam's stock market.

“While waiting for KRX to be put into use, investors have no other choice but to co-operate with HoSE.

He said investors needed to adapt to current market conditions and have a trading plan in advance, consider carefully before placing buy and sell orders./.

Source: VNA
en.vietnamplus.vn

Related News

More investments from RoK coming to Vietnam

More investments from RoK coming to Vietnam

A number of large enterprises from the Republic of Korea (RoK) are continuing to pour investment into Vietnam, turning the Southeast Asian country into their leading manufacturing hub in the world.
Vietnam listed as future key destination for RoK firms

Vietnam listed as future key destination for RoK firms

Vietnam is emerging as a key destination in the future business strategy of enterprises from the Republic of Korea (RoK), a survey has shown.
RoK shipbuilding companies look to Vietnam for workers

RoK shipbuilding companies look to Vietnam for workers

Hanwha Ocean and HD Hyundai, two out of the “Big Three” shipbuilders of the Republic of Korea (RoK), are looking to Vietnam to secure workers amid the Korean industry's lingering workforce shortage, according to industry officials.
Vietnam grabs attention of pharmaceutical companies from RoK

Vietnam grabs attention of pharmaceutical companies from RoK

A delegation of pharmaceutical companies from the Republic of Korea (RoK) has visited Vietnam to seek chances for strengthening business partnerships, according to the Korea Pharmaceutical and Bio-Pharma Manufacturers Association (KPBMA).

Latest News

Efficiency from inspection and supervision - a key factor for a transparent stock market

Efficiency from inspection and supervision - a key factor for a transparent stock market

VCN - Since the 2019 Securities Law officially took effect, the average annual number of penalty decisions has more than doubled compared to the period 2015-2020. This shows that the strictness of the law is being enforced effectively.
SBV approves designation of 14 important banks in 2024

SBV approves designation of 14 important banks in 2024

The State Bank of Vietnam (SBV) has issued Decision No. 538/QD-NHNN approving the group of credit institutions and foreign bank branches which play an important role in the country's banking system in 2024.
Central bank urges card issuers to review procedures

Central bank urges card issuers to review procedures

The State Bank of Vietnam (SBV) has issued a directive, demanding commercial banks to review their procedures in issuing and managing bank cards.
Warning about impersonating tax authorities to commit fraud during  tax finalization month

Warning about impersonating tax authorities to commit fraud during tax finalization month

VCN - The Tax industry has continuously provided information and issued warnings about impersonating tax officials and tax authorities to commit fraud against taxpayers, but there are still people who fall into the trap of these fraudsters, especially during the peak month of tax settlement.

More News

“3 priorities, 3 breakthroughs” in task deployment of State Treasury

“3 priorities, 3 breakthroughs” in task deployment of State Treasury

VCN - To complete the task from now until the end of 2024 and successfully implement the State Treasury Development Strategy as planned, Deputy Minister of Finance Bui Van Khang stated "3 priorities, 3 breakthroughs" " and 7 notes in task performance.
Effectively apply M&A to go long distance

Effectively apply M&A to go long distance

VCN - With advantages such as being cheaper than domestic capital, and accompanied by many factors such as technology, skills, management, market... foreign capital is a popular trend among businesses. Domestic enterprises seek through M&A activities to ensure sustainable development for the future.
Hanoi State Treasury proactively digitizes and transforms operating methods

Hanoi State Treasury proactively digitizes and transforms operating methods

VCN - Hanoi State Treasury always proactively transforms and reforms its operating methods with the motto of “taking customers as the center” and taking the satisfaction of organizations and individuals as a measured level of task completion by civil servants.
The Ministry of Finance continues to strongly improve the business environment, reducing the rate of businesses temporarily suspending operations

The Ministry of Finance continues to strongly improve the business environment, reducing the rate of businesses temporarily suspending operations

VCN - The Ministry of Finance aims to continue to strongly improve the business environment, create a healthy competitive environment, rapidly increase the number of newly established businesses, and reduce the rate of businesses temporarily suspending operations; reduce input costs and legal compliance costs in investment and business activities, reduce policy risks, strengthen trust, create a fulcrum for recovery and improve business resilience.
Vietnam tackles obstacles to stock market upgrade

Vietnam tackles obstacles to stock market upgrade

Vietnam's ambition to elevate its stock market from "frontier" to "emerging" status by 2025 faces two key hurdles, including pre-trade margin requirements for foreign investors and foreign ownership ratios in certain sectors, said Deputy Director of the Securities Market Development Department under the State Securities Commission (SSC) Pham Thi Thuy Linh.
Looking forward clear instructions in tax finalization in 2023

Looking forward clear instructions in tax finalization in 2023

VCN - Mr. Hoang Quang Phong (photo), Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) discussed supporting taxpayers in tax finalization in 2023.
Proactive in dealing with exchange rate pressure

Proactive in dealing with exchange rate pressure

VCN - Recently, the State of Bank (SBV) withdrew VND 30,000 billion through the T-bills channel, contributing to reducing exchange rate pressure. This is just one of the moves of the monetary policy management agency to stabilize the foreign exchange market, contributing to supporting the macro economy as well as import-export business activities of enterprises.
Tax sector accompanies and supports tax finalization

Tax sector accompanies and supports tax finalization

VCN - In the first months of 2024, the Tax sector has deployed peak months to support tax finalization in many different forms, thereby solving many problems in settlement of corporate income tax and personal income tax for taxpayers.
Minister of Finance: Fairness and transparency for the insurance market

Minister of Finance: Fairness and transparency for the insurance market

VCN - According to Minister of Finance Ho Duc Phoc, the Ministry has strengthened inspections to correct violations in the insurance sector, demonstrating fairness and transparency in the market.
Read More

Your care

Latest Most read
Efficiency from inspection and supervision - a key factor for a transparent stock market

Efficiency from inspection and supervision - a key factor for a transparent stock market

VCN - Since the 2019 Securities Law officially took effect, the average annual number of penalty decisions has more than doubled compared to the period 2015-2020. This shows that the strictness of the law is being enforced effectively.
SBV approves designation of 14 important banks in 2024

SBV approves designation of 14 important banks in 2024

The State Bank of Vietnam (SBV) has issued Decision No. 538/QD-NHNN approving the group of credit institutions and foreign bank branches which play an important role in the country's banking system in 2024.
Central bank urges card issuers to review procedures

Central bank urges card issuers to review procedures

The State Bank of Vietnam (SBV) has issued a directive, demanding commercial banks to review their procedures in issuing and managing bank cards.
Warning about impersonating tax authorities to commit fraud during  tax finalization month

Warning about impersonating tax authorities to commit fraud during tax finalization month

VCN - The Tax industry has continuously provided information and issued warnings about impersonating tax officials and tax authorities to commit fraud against taxpayers, but there are still people who fall into the trap of these fraudsters, especially dur
“3 priorities, 3 breakthroughs” in task deployment of State Treasury

“3 priorities, 3 breakthroughs” in task deployment of State Treasury

To successfully implement the State Treasury Development Strategy as planned, Deputy Minister of Finance Bui Van Khang stated "3 priorities, 3 breakthroughs" " and 7 notes in task performance.
Mobile Version