SSC asks brokerage firms to ensure system safety

The State Securities Commission has asked brokerage companies to further strengthen their trading system to ensure safe and smooth transactions for investors in the stock market.
SSC asks brokerage firms to ensure system safety ảnh 1The market regulator said it would go on with the restructuring of the securities companies.— (Photo: stocknews24.net)
Hanoi (VNS/VNA) - The State Securities Commissionhas asked brokerage companies to further strengthen their trading system toensure safe and smooth transactions for investors in the stock market.

This request was prompted by a recent slew of systembreakdowns at brokerage firms that limited investors’ ability to place ordersto buy or sell shares.

SSC Vice Chairman Pham Hong Son requested securitiescompanies improve their operations and financial security, particularly theirinformation technology system, to ensure smooth operations.

On October 25, a system malfunction occurred with theelectronic trading system of VNDirect Securities Joint Stock Company,preventing investors from placing orders through the broker’s platforms.

On September 25, a connection failure happened with the wholetrading system of Saigon Securities Inc, including SSI Webstrading, SSI MobileTrading and SSI Pro Trading, which resulted in the investors’ inability to login to the system as well as make transactions.

This is the second time SSI experienced system failure afterthe first crash in January this year. Right after the error, SSI Chairman NguyenDuy Hung sent an apology to clients and promised to continue to invest in bothhuman resources and the IT system to ensure safety in the future.

Both SSI and VNDirect are among the top 10 biggest securities companies in Vietnam’sstock market. Any system failures in their trading systems will significantlyaffect investors’ transactions.

At the annual meeting of market members on October 26, themarket regulator said it would go on with the restructuring of the securitiescompanies. Those that are not fully financial capable will be closely monitoredand any violations which negatively affect the healthy and sustainabledevelopment of the market will be strictly handled.

Representatives of the two national exchanges also said theywould strengthen the management and supervision of market members to ensure thediscipline in the market and integration with the regional securities market.At the same time, they would also diversify services provided to members.

To date, there are 72 brokerage firms operating on the stockmarket.

Many small companies have hiked charter capital and restructured personnel, butin the first six months, 18 of 72 companies still suffered losses.-VNS/VNA
VNA

See more

Industrial factories in Tan Uyen city, the southern province of Binh Duong (Photo: VNA)

Investors upbeat about Vietnam’s industrial property market

Investors are bullish on Vietnam's industrial property market growth on the back of the nation's strategic location, sound infrastructure, and increasing demand for industrial space, particularly industrial parks that meet green standards, according to market research.

Vietnamese Ambassador to Belgium and head of the Vietnamese Delegation to the EU Nguyen Van Thao addresses the forum (Photo: VNA)

Forum connects Vietnamese, Belgian busineses

The Vietnam-Belgian business forum took place in Brussels on October 23, offering a chance for enterprises of the two countries to introduce their products and explore new cooperation opportunities.

The expos cover over 6,000 sq.m, drawing over 210 exhibitors from 10 countries and territories. (Photo: VNA)

Hanoi hosts textile & garment, fabric garment accessories expos

The Vietnam Hanoi Textile & Garment Industry and Fabric Garment Accessories Expos 2024 (HanoiTex & HanoiFabric 2024) is taking place in Hanoi on October 23 – 25 as part of a series of international exhibitions on Vietnam's textile and garment industry.

Representatives from Vietnamese and Lao agencies, localities and businesses at the opening ceremony of the Vietnam-Laos trade fair 2024 in Xiengkhouang province. (Photo: VNA)

Vietnam, Laos step up trade, tourism promotion

A Vietnam-Laos trade fair was kicked off in Phonsavanh township in Xiengkhouang province of Laos on October 23 as part of activities to celebrate the 75th anniversary of the traditional day of Vietnamese volunteer soldiers and experts in Laos (October 30, 1949 – 2024).

Illustrative photo (Photo: chinhphu.vn)

Vietnamese goods enter US through global supply chain

The Saigon Co.op Distribution Company Limited (SCD) - a member of the Ho Chi Minh City Union of Trade Cooperatives (Saigon Co.op), and STC Natural Vina Company on October 23 held a hand-over ceremony for goods that will be exported to the US.

Vietnam’s lobsters have clawed their way back onto Chinese menus after a suspension. (Photo: VNA)

Vietnam’s lobsters claw back prominence in China

Vietnam’s lobster export to the Chinese market in January-September rose 33 folds year-on-year on the back of lower prices and stronger trade ties between the two nations, the South China Morning Post said on October 22.