Accelerating towards the goal of upgrading the stock market.

With only a few months remaining before the Vietnamese stock market is expected to be upgraded to emerging market status by FTSE Russell in September, the State Securities Commission (SSC) is simultaneously accelerating technological, legal, and supervisory solutions to complete the market infrastructure to international standards.

Digital transformation lays the foundation for achieving the goal of upgrading the ranking.

In the context of a rapidly developing digital economy , technology and data are increasingly becoming the foundation of the financial market. For the Vietnamese stock market, digital transformation is a mandatory requirement to enhance competitiveness, increase transparency, and meet upgrade criteria.

At the Digital Trust in Finance 2026 Forum, themed "Building Digital Financial Trust in the AI ​​Era," SSC Vice President Bui Hoang Hai stated that the SSC has implemented a comprehensive range of digital transformation solutions, from improving institutional frameworks and upgrading technological infrastructure to modernizing market supervision.

Investors monitor stock market developments at the Ho Chi Minh City Stock Exchange (HOSE). Photo: Hua Chung

A series of legal documents have been issued, such as Decree No. 245/2025/ND-CP, Decree No. 306/2025/ND-CP, Circular No. 20/2025/TT-BTC, and Circular No. 14/2025/TT-BTC. These regulations significantly contribute to promoting the digitalization of trading activities, enhancing transparency, and strengthening investor management capabilities. The State Securities Commission (SSC) is also coordinating with the State Bank of Vietnam to draft a new Decree on the private placement and trading of corporate bonds.

In addition, SSC is coordinating with the Ministry of Public Security to implement the Project on developing applications of population data, electronic identification and authentication to serve national digital transformation, aiming to support investor verification, reduce the risk of fraud, and enhance transaction control.

In particular, the commissioning of the KRX transaction management and operation information technology system is a significant milestone in the modernization of the securities market infrastructure. Operating from May 5, 2025, the KRX system integrates the entire process from trading to settlement, increasing order processing capacity and improving system operational efficiency. This is also a crucial foundation for Vietnam to implement the Central Counterparty Clearing (CCP) model by the end of 2026 or early 2027. According to Mr. Hai, this is a major technological advancement, contributing to improved management and supervision of the securities market, meeting the increasingly high demands for transparency and security for domestic and foreign investors.

Along with upgrading trading infrastructure, the State Securities Commission (SSC) is accelerating the deployment of information technology systems to serve market management and supervision. Notably, the single-point information disclosure system has been operational since August 2024 through the stock exchanges and directly connected to the SSC's electronic information disclosure system. This model helps standardize information disclosure data, reduce delays in data reception, and enhance real-time market monitoring capabilities.

Thanks to the application of technology in operations and trading, the liquidity of the Vietnamese stock market is currently among the leading in the region. By 2025, the total trading value of the entire market is expected to average over 29,000 billion VND per session, and by 2026, this figure will exceed 31,000 billion VND per day.

According to SSC leaders, high liquidity not only reflects the attractiveness of the market but also shows that the market is gradually operating in a safer, more transparent, and sustainable direction. This is also an important condition for FTSE Russell to consider upgrading the Vietnamese stock market to the emerging market group. According to the planned roadmap, from September 2026, Vietnamese stocks will begin to be included in FTSE Russell indices. This means a stronger potential to attract international investment flows, especially passive capital from ETFs and global investment funds.

Amend the Securities Law to create a legal framework for new technologies.

Mr. Bui Hoang Hai confirmed that SSC's goal is not just to be upgraded by FTSE Russell this year, but also to maintain its new status and continue to upgrade to the MSCI group of high-performing emerging markets by 2030.

To realize this goal, the Securities Commission (SSC) will continue to implement a comprehensive set of solutions. First, it will continue to improve the legal framework for digital transformation and technology application in the securities market. The SSC is reviewing and amending the Securities Law, incorporating principles for managing information technology applications and a sandbox testing mechanism in the market. The regulatory body is also seeking feedback on amendments to Circular No. 134/2017/TT-BTC on electronic transactions in the securities market, adding regulations related to the application of new technologies.

Notably, in accordance with the Artificial Intelligence Law, the SSC is conducting research to submit to the Ministry of Finance regulations related to the application of AI in securities trading and service provision.

In addition, SSC continues to invest in building a modern information technology system. SSC is developing a comprehensive information technology system and a centralized specialized data warehouse to store, connect, and share data for market management and supervision, while also ensuring connectivity with external entities. These projects will create a foundation for the more robust application of new technologies such as big data, artificial intelligence (AI), and blockchain in market management and supervision in the future.

At the same time, SSC will continue to implement training programs for regulatory agencies, strengthen communication, disseminate knowledge and warn of risks to market participants and investors.

"Digital transformation in the stock market, focusing on the development of digital finance and the digital economy, aiming for an upgrade in market status, is an important, regular, and continuous task of the SSC," Mr. Hai emphasized, while expressing confidence that with the close guidance of the Government and the Ministry of Finance, digital transformation in the market will continue to be promoted, contributing to ensuring the development of national finance.

Source: https://daibieunhandan.vn/tang-toc-cho-muc-tieu-nang-hang-thi-truong-chung-khoan-10417615.html