Ho Chi Minh City Stock Exchange (HSX) will adopt a new trading infrastructure from the Korean Exchange (KRX).
|Investors have longed for HSX new and smoother trading platform |
On June 9, Ho Chi Minh City Stock Exchange (HSX) notified securities companies on the upcoming implementation of a new infrastructure system for the entire stock market, imported from the Korean Exchange (KRX).
HSX will send technical specifications to securities companies on June 11. From June 14 to July 23, the connection testing will take place. From July 26 to August 6, there will be functional testing. In the two testing phases mentioned above, securities companies will be connected to the HSX’s new system to gain experience. Testing time will happen from 8:30 am to 15:00 pm on weekdays.
In 2012, an agreement to upgrade the HSX’s trading platform was officially signed between the Vietnamese bourse and KRX. The contract is roughly valued at VND600 billion ($26.1 million)
The cooperation between the two sides will facilitate a better, more solid trading infrastructure while providing a synchronous and integrated platform for the entire Vietnamese stock market.
The system aims to enhance trading, supervision, and updating market information at the HSX and Hanoi Stock Exchange as well as the Vietnam Securities Depository.
This entire business system is fully integrated and synchronised on a modern technology platform, including two main data centres and a disaster backup plan.
The long-awaited implementation from KRX is expected to happen much sooner.
However, the COVID-19 outbreaks have exerted more pressure to relevant parties, particularly for South Korean experts who could not come to Vietnam.