FPT is confident that its trading system for the Ho Chi Minh City Stock Exchange (HSX) will be ready to launch within the next few days.
|Duong Dung Trieu, chairman of FPT Information System (FIS) under FPT Group |
Duong Dung Trieu, chairman of FPT Information System (FIS) under FPT Group, is confident that the new trading infrastructure developed by FPT will dispel congestions on the HSX.
“When we were assigned by the State Securities Commission and the HSX, the special working group of 50 experts from FPT and 30 from HSX began working to address HSX’s congestion and more than triple the capacity of HSX,” Trieu said.
FPT has brought its tailored-made software for the Hanoi Stock Exchange (HNX) to deploy at HSX to alleviate order problems. To this end, FPT is modifying the trading system to align with HSX regulations and the order receiving system to fit the connection standards of securities companies in HSX.
FPT aims to integrate its new trading system into the existing systems of HSX and relevant agencies such as the Vietnam Securities Depository Centre, update daily data conversion, and help securities companies trade with the daily transaction.
Trieu also said that FPT has already identified potential issues and prepared remedial measures. It is expected that by the end of June, the FPT trading system can be taken live.
Investors have been complaining since securities companies stopped allowing the editing and cancellation of orders on HSX since June 2 to reduce the load on the system. A week later, some companies have resumed these functions but some securities were still locked at rush hour.
Meanwhile, Ho Duc Phoc, Minister of Finance, last week said that trading congestions on the HSX will be addressed in July.
The latest solution will be the forthcoming adoption of technical infrastructure from the Korea Exchange (KRX) in August.