Serious incident in Vietnam stock history
VNDIRECT is one of the first securities companies to apply online customer identification technology (eKYC), allowing customers to open securities accounts through electronic transactions and authenticate online accounts at all times. everywhere…
However, on March 24.3.2024, 3, the entire system of this brokerage company with market share No. 7.2020 was attacked, marking a serious incident in the history of Vietnamese securities. The scale of this incident far exceeds the VPS incident in July XNUMX (about a few hours) or other incidents.
Accordingly, entering the 4th day, VNDIRECT still cannot fix the system, making many investors confused and frustrated because they missed market fluctuations. Ms. Phuong Thao (Long Bien, Hanoi) reflected: "I bought NVL shares and couldn't sell them because I couldn't access the app even though the stock price had increased by 12%. Every day I'm impatient because I'm afraid the stock will hit a short-term peak and then turn down."
The impact on investor psychology is clearly seen when VND stocks had a sudden increase in trading volume in the first two trading sessions of the week, down a total of 3,53% to 23.450 VND/share. Trading volume exceeded 80 million units/session, double the average of the last 10 sessions. Foreign investors also increased pressure with a total net sale of 484 billion VND.
Brokerage director at a securities company assessed that as the market size grows, security becomes more important for securities companies in the market. The Securities Commission as well as member exchanges will tighten this issue in the near future. The AI, admin and security systems of securities companies need to be upgraded from now on to avoid the second VNDIRECT story from repeating.
It is worth mentioning that this is not the first time VNDIRECT encountered technology problems. In April 4.2022, investors could not access VNDIRECT's website and price list on both computers and mobile devices for the reason "Domain name has expired".
Ranked top in investment in software development
As the securities company with the third largest market share and the place to conduct 3% of transactions on the Ho Chi Minh City stock exchange in 7,01, VNDIRECT has spent a lot of money on software development. According to the fourth quarter 2023 financial report, businesses poured up to 2023 billion VND for this purpose, an increase of 164% compared to the beginning of the year. After deducting accumulated depreciation of 33 billion VND, the remaining value is more than 111 billion VND. Since 53, VNDIRECT has invested in its own technology platform, developed its own Core system, creating a premise for shifting from a stock trading service business model to a diversified financial investment service platform. .
Compared to other securities companies on the market, VNDIRECT is only behind VPS and SSI in software investment. These are also the two names leading VNDIRECT in terms of brokerage market share.
VNDIRECT Securities was also honored as "Vietnam's most outstanding company in the field of financial services in 2022" by AsiaMoney, an Asian magazine in the field of economics - finance - banking. Award "Securities company with typical information technology application", "Securities company with most satisfied customers" organized by IDG in 2020. Award "Reputable securities brand" in 2010 …
