Two investors look at stock prices on a laptop in HCM City. (Photo courtesy of Vietnambiz.vn)Themove aims to tackle system overloads which have troubled investors recently.
Theimplementation of KRX project was delayed last year due to the COVID-19pandemic. HoSE would use all available resources to accelerate theimplementation of the project this year, it said.
Thenew system is set up by HoSE with support from the Korea Exchange,meeting the requirements for Vietnam’s stock trading, including marketinformation, market surveillance, clearing, settlement and depository andregistration.
TheKRX’s system will be used on the HoSE-affiliated Hanoi Stock Exchange as well.
HoSEwill work with the Korean side to trial KRX software installation, completingthe WAN connection test with securities companies, performing market-wide datato be ready for the trial plan.
HoSEwill also accelerate information security projects to improve the safety,security and confidentiality of the trading system.
Newcash flow pouring into the market since the second half of 2020 has boostedliquidity. December 2020 and January 2021 saw record matching value ofmore than 250 trillion VND (10.8 billion USD) and more than 300 trillion VND onHoSE, respectively.
However,skyrocketing liquidity has far exceeded market forecasts, leading to frequentcongestion in many sessions, causing a lot of trouble for investors andaffecting the quality of the market.
Thesudden increase in liquidity is unpredictable, causing undesired interruptionsin trading, according to HoSE./.
VNA
