KRX trading system to begin official operation

April 22, 2024 | 14:09

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On April 21, the Ho Chi Minh City Stock Exchange announced that it would adopt a new trading infrastructure from the Korean Exchange (KRX) starting May 2.

KRX trading system to begin official operation

The Ho Chi Minh Stock Exchange (HSX) sent an urgent notice to securities companies about the plan for the official implementation of the KRX switch. Accordingly, securities companies are asked to check their connections to HSX on April 24 and 25. The end-of-day data will be updated on the new trading system on April 26.

On April 30, securities companies will perform a cutover test. The transaction date for the system will be May 2, with the last transaction data from April 26.

"Securities firms must check seamless operation of their systems with the new trading system of HSX like a normal trading day," HSX's leaders said.

HSX leaders note that securities firms should absolutely not use automatic order entry software and test unusual and unrealistic situations.

By the end of April 30, based on the results of the cutover test, HSX will announce the official implementation of the new trading system. However, if any issues are discovered, securities companies will carry on trading under the current system.

On April 19, the Hanoi Stock Exchange (HNX) also announced the preparation of infrastructure and resources for the KRX system to go live.

KRX is an IT system created by the Korea Exchange and implemented by HSX. This system introduces several new features, the most prominent being the support for retail investors to trade on a dedicated platform and conduct same-day buying and selling transactions (T+0).

Numerous investors, securities companies, and analytical entities have praised the KRX system with the idea that it would serve as a new long-term market catalyst.

KRX switch primed to boost market

Technology prowess has brought multiple advantages to investors in the stock market, yet more perks are set to come in the forthcoming months.

Ho Chi Minh Stock Exchange striving to meet international standards

The Ho Chi Minh Stock Exchange (HOSE), as the nucleus of the Vietnamese stock market, should strive to meet international standards, Chairman of the HCM City People’s Committee Phan Van Mai said at a gong-beating ceremony to start the first trading session of the exchange following the Lunar New Year holiday on February 8.

Vietnam likely to be upgraded to an emerging market after KRX system installed

Experts believe that once the KRX trading system begins official operations, many international organisations will re-evaluate the Vietnamese market to upgrade it to an emerging market.

By Vy Bui

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