HoSE is testing the new KRX technology system.

HoSE will begin testing the new KRX IT system from March 4th, after a delay in its official launch since the end of last year.

In a recent document sent to securities companies, the Ho Chi Minh City Stock Exchange (HoSE) announced that it will be transitioning to the new KRX information technology system from March 4th to March 8th. The Exchange requested that securities companies prepare their systems for the transition according to the schedule, conduct system checks, and perform a cutover test on March 7th.

Between March 11th and 15th, securities companies will test the order entry process, ensuring it operates like a normal trading day. HoSE notes that the first day on the system is March 4th, and the data for the first trading day is the data from the end of March 1st.

Investors are monitoring the market at the headquarters of a securities company in District 1, Ho Chi Minh City. Photo: Quynh Tran

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KRX is an information technology system designed by the Korea Exchange (KRX). This system offers many new features, most notably supporting odd-lot trading on a separate board and intraday trading (T+0). The contract for the design, supply, installation, and transfer of the information technology system was signed between HoSE and KRX in 2012, valued at VND 600 billion.

Initially, HoSE planned to complete the system in 2021, but it has repeatedly missed deadlines. Most recently, the new IT system was planned to officially operate at the end of 2023, but this has also been postponed.

The KRX system is highly regarded by many investors, securities firms, and analytical units, and is expected to become a new "east wind" for the market in the long term. Recently, information about the trials and promises of operation has become a major driving force, pushing up the stock prices of securities companies and the overall index significantly.

In a report released at the beginning of the year, KB Securities Vietnam (KBSV) estimated that the new system would help increase the average daily trading value of the VN-Index by 30-70% compared to the average liquidity of the past 5 years. The company believes that the KRX system, once operational, will meet the remaining conditions for upgrading the market's rating according to FTSE Russell.

During the New Year's bell-ringing ceremony at HoSE, Ms. Nguyen Thi Chan Phuong - Chairwoman of the State Securities Commission - stated that the official operational timeline of KRX depends not only on the regulatory body or the investor HoSE, but also requires the joint efforts of market participants, especially securities companies.

"With the guidance of the Ministry of Finance and the coordination of the State Securities Commission, the new information technology system will soon be operational," Ms. Phuong said.

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