On the evening of May 4, Ms. Tran Anh Dao - Deputy General Director in charge of HoSE's executive board - said that the system conversion took place from April 29 to today.

The system conversion is one of the almost final preparation steps, with the participation of many stakeholders including contractors, HoSE and beneficiaries (HNX, Vietnam Securities Depository and Clearing Corporation - VSDC) and more than 90 market members (securities companies, custodian banks, payment banks, etc.).

According to Ms. Dao, up to this point, data has been exported from the old system to the new system and checked to ensure it is complete and correct.

The system has been tested for one trading day on a market-wide scale on May 3 with stable results.

On May 4, the contractor also conducted a final system check, including checking connections with members, market configuration parameters, database, server monitoring system, applications, storage, etc. to prepare for go-live.

To ensure the system operates smoothly, safely and stably, especially on the official operating day, Ms. Dao said the contractor has sent more than 40 experts to work directly at HoSE.

"We and all related units, along with market members, are also focusing all resources to deploy, closely monitor the system's operations and respond to any arising situations," said Ms. Dao.

KRX is considered as a "backbone system" covering all trading activities, market information, registration, custody, clearing, supervision and risk management.

The fundamental difference is that this system changes from fragmented management among exchanges and depository corporations to a centralized management system.

Experts say that in the long term, KRX is a platform for developing new financial products such as short-selling, T0 trading, new ETF and derivative products.

This is an important condition for the Vietnamese market to meet the criteria for market upgrade according to FTSE and MSCI standards. However, it should be noted that KRX creates a technical infrastructure to deploy many new products but does not have to do it immediately.

Previously, many changes in techniques, orders, and transactions on the underlying and derivative markets have been continuously announced by HoSE and HNX recently.