HOSE floor changes strongly: New technology system has 'given green light'

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

This is the opinion of Ms. Tran Anh Dao - Deputy General Director in charge of the Executive Board of Ho Chi Minh City Stock Exchange (HOSE) when talking to the press about the readiness of the new Information Technology System (KRX System).

Large-scale technology transformation journey

After many years of waiting, the new information technology system for the Vietnamese stock market, commonly known as the KRX system, has officially completed the final preparation stage. According to the plan, this system will officially operate from May 5, 2025 on the Ho Chi Minh City Stock Exchange (HOSE), marking an important milestone in the process of modernizing the national financial technology infrastructure.

During the holiday period at the end of April, engineers, technology experts and the entire implementation team from HOSE, contractors and beneficiaries worked tirelessly. From April 29 to May 4, the process of converting data from the old system to the new system was urgently and synchronously deployed. Every step from data export, reconciliation, testing, was closely monitored with the coordination of more than 90 market members including securities companies, custodian banks and payment banks.

According to Ms. Tran Anh Dao, Deputy General Director in charge of the HOSE Executive Board, the system test run on the entire market on May 3rd gave stable results. Notably, on May 4th, the technology contractor completed the final review, including checking the connection, technical parameters, database, and both the application and hardware monitoring system. Thereby, it can be affirmed that the entire technology platform is ready for "G hour".

It is worth mentioning that this is a technology project with an unprecedented scale and integration in the history of the Vietnamese securities industry. With close direction from the Ministry of Finance , the State Securities Commission and the Vietnam Stock Exchange, the project was implemented with high determination from all parties, from investors to contractors and market members.

Comprehensive testing - ready for any scenario

Not only completing the tests, HOSE and related units have built a plan to closely monitor the first days of the new system's operation. On May 5, the day the KRX system officially "goes live", more than 40 technology experts from the contractor will be on duty at HOSE headquarters to support handling any arising situations.

Although the system has been rigorously tested, actual implementation still has many unpredictable situations. Therefore, close coordination between related units, especially from market members such as securities companies and banks, is a vital factor to ensure the system operates stably and safely. HOSE has requested all affiliated departments, from technical to operational, to increase their forces and be on duty 100% in the first days.

In addition, as a coordinating focal point, HOSE also emphasizes continuous communication so that investors can clearly understand the new operating process. Thereby, creating peace of mind, while ensuring smooth transactions, minimizing technical errors that may occur due to system changes.

According to HOSE leaders: Not simply a technological replacement, the KRX system is expected to open a new chapter for the Vietnamese stock market.

Previously, due to the limitations of the old infrastructure, many advanced functions could not be implemented, causing the Vietnamese stock market to not be able to reach the same level as other countries in the region. Now, with the KRX platform, which is designed according to international standards, the expectation of a more transparent, flexible and efficient market is completely grounded.

However, the road from "go-live" to smooth operation is still long. Therefore, in addition to the technology factor, the cooperation of market members and especially the companionship from investors will determine the success of the first phase of operation. It is also important to note that any technology system can have initial problems. Therefore, patience and proactive information updates from investors will be important factors to help the market operate smoothly in the first days.

The Contractor, the Investor, the Beneficiaries and the Market Members have completed all the preparations and are ready for the new IT System to operate. In the beginning, to ensure the System operates smoothly, safely and stably, especially on the official operation day, the Contractor has sent more than 40 experts to work directly at HOSE.

"We and all related units, along with market members, are also focusing all resources to deploy, closely monitor the system's operations and respond to any arising situations. This is a large system, integrating the entire market. As the investor, HOSE hopes to receive close and active coordination from related units, market members, businesses, investors, news agencies, and the press, creating conditions for the new information technology system to operate safely, smoothly, and effectively, especially in the initial stage of stabilizing the system," said Ms. Tran Anh Dao.

Mr. Minh

Source: https://baochinhphu.vn/san-hose-chuyen-minh-manh-me-he-thong-cong-nghe-moi-da-bat-den-xanh-102250505085436942.htm