Nearly 70% of securities companies have not completed testing new trading systems.

On the afternoon of August 21, 2023, Ho Chi Minh City Stock Exchange (HoSE) held a meeting with securities companies on the implementation of the KRX technology project in securities trading activities.

Previously, a representative of the State Securities Commission shared that the new KRX trading system will be operational in July. This is an information technology system for managing and operating transactions on the Vietnamese stock market signed by HoSE with the Korea Stock Exchange (KRX) in 2012 to upgrade the technology system and infrastructure of the stock exchange in Vietnam.

Nearly 70% of securities companies have not completed testing the new KRX trading system (Photo TL)

The KRX system has been mentioned with the expectation that it will help the Vietnamese stock market upgrade with new features such as intraday trading (T+0), short selling...

In the meeting with HoSE, the information announced showed that currently only 25/76 securities companies have completed the functional testing of the KRX system. Equivalent to only about 33% of the number of securities companies completing the testing. The number of companies that have not completed the testing is up to more than 67%.

A similar situation is also being recorded at the Hanoi Stock Exchange (HNX) and the Vietnam Securities Depository (VSD). The Ministry of Finance has directed to put the system into operation by the end of 2023. HoSE said that if market members and securities companies are not ready, the investor, HoSE, will continue.

Source: https://www.congluan.vn/gan-70-cong-ty-chung-khoan-chua-hoan-thanh-test-he-thong-giao-dich-moi-post261460.html