Stable trading in the first week of KRX operation, investors gradually get used to the new system

Smooth connection after careful preparation

From 9:00 a.m. on May 5, the KRX trading system officially went live after careful preparation from exchanges and securities companies.

Update immediately after the first trading day, Ms. Tran Anh Dao, Deputy General Director in charge of the Executive Board of Ho Chi Minh City Stock Exchange (HoSE) said that the new information technology system was connected smoothly, operating stably and safely. In the morning session of the first day, only 2 securities companies contacted HoSE to support data comparison and then coordinated to handle it promptly.

"More than 40 experts from the Korean contractor directly participated in supporting operations in the early days. The contractor and related units will continue to closely monitor and actively coordinate with market members to ensure the new system operates smoothly and effectively, especially in the initial stage of stabilizing the system."

- Ms. Tran Anh Dao, Deputy General Director in charge of the Executive Board of Ho Chi Minh City Stock Exchange (HoSE)

According to a survey at a number of securities companies, after careful preparation early on and assuming many scenarios, connections were smooth, operating stably and safely as planned last week.

Mr. Nghiem Xuan Huy, Chairman of the Board of Directors and General Director of Vina Securities Joint Stock Company (VNSC by Finhay) said that over the past month, the team has been working continuously with many days of overtime and some members even stayed up all night close to the launch date to complete the tests with many hypothetical scenarios. On the very first day of KRX's operation, the trading system at VNSC was connected stably and operated smoothly as expected.

Regarding the situation at Saigon Hanoi Securities Joint Stock Company (SHS) in the first trading week, a representative of SHS Securities said that the company has completed the connection and deployment of the new system according to the set schedule. SHS Securities has proactively developed a plan to convert to the KRX system early, including upgrading technology infrastructure, training staff and updating business processes. By May 6, SHS had reopened all of SHS's products and services, including underlying transactions, derivatives, financial services and online utilities.

At Pinetree Securities Joint Stock Company, General Director Lee Jun Hyuck said that all trading orders were smooth and stable, and no technical problems were recorded.

Sharing more about the preparation process, Pinetree CEO said that since the beginning of the year, Pinetree has proactively developed plans and backup plans for the deployment of the KRX system. As soon as receiving official notice from the Stock Exchange and the Vietnam Securities Depository and Clearing Corporation (VSDC), the company immediately arranged human resources to coordinate testing and at the same time built a conversion scenario to ensure the integration process is seamless. Self-developing and owning a core securities system designed according to Korean standards and highly compatible with the KRX architecture is also a factor that helps Pinetree shorten time and save resources, and improve testing efficiency and operational stability.

Quickly adapt to changes from the new system

According to the feedback received by the writer, some investors were quite surprised when an additional fee arose right after purchasing a derivatives contract. This change is because VSDC previously collected an overnight position management fee (VND 2,550/contract/night). After operating the new system, VSDC stopped collecting the overnight position management fee, instead it charged a CKPS clearing service fee at the same rate (VND 2,550/matched contract). This is one of the changes that many securities companies have noted, pointing out the impact for investors to come up with appropriate investment strategies. Because investors who hold many overnight positions will benefit because they do not have to pay additional fees, while those who trade a lot during the day will suffer due to additional fees on each matched contract.

Some notes on changes in derivative securities transactions before and after the new information technology system is put into operation are sent to customers by the securities company - Source: BIDV Securities (BSC)

In fact, in addition to preparation and readiness in terms of technology, according to leaders of many securities companies, ensuring that customers adapt well to the new system is a priority during the transition period.

According to SHS representative, before the new system went into operation, the company widely informed customers about the related changes, and provided both brief and detailed document instructions to help investors get acquainted with the new system. In the first days of implementation, SHS's investment consulting, customer service and technical teams were on hand to provide timely support, ensuring that investors' transactions went smoothly.

Pinetree representative said that they have synchronously deployed many solutions such as timely communication via website, fanpage, trading platform and call center; providing multi-platform support team; instructions on using new features; and continuous technical monitoring to promptly handle problems if they arise.

With VNSC, this securities company focuses on applying AI to automate the customer support and consulting process, ensuring a fast, accurate and personalized trading experience.

"We consider connecting to the KRX system an important step, in line with the technology development strategy and the traditional non-broker model. Not using brokers does not affect service quality, but on the contrary, helps us optimize costs, improve efficiency and bring maximum initiative to investors", Chairman of the Board of Directors and General Director of VNSC Nghiem Xuan Huy also emphasized.

From the perspective of an investor who has traded on the KRX system and other systems in Vietnam, Mr. Lee Jun Hyuck, General Director of Pinetree, believes that careful preparation from the management agency and securities companies will help investors quickly get acquainted and effectively exploit the advantages that the KRX system brings.

At the moment, investors may not see many changes, because expectations such as T+0 or short selling are still in the future. However, according to Pinetree CEO, the new system brings many significant improvements in order display, especially in ATO and ATC sessions. Investors can monitor the expected matching price, the remaining buy/sell volume at the nearest price to place reasonable orders, avoiding the situation of "hiding orders" as before.

Source: https://baodautu.vn/giao-dich-on-dinh-trong-tuan-dau-van-hanh-krx-nha-dau-tu-dan-quen-he-thong-moi-d281521.html