07/07/2024 17:09

Investors monitor stock market developments at HoSE. (Photo: Hua Chung/VNA)

(PLVN) - The Ministry of Finance said that the contractor KRX is reviewing and testing further to evaluate the system's operation. Based on the results of the testing and review, the Investor will report to the Ministry of Finance on the next implementation roadmap.

The Ministry of Finance has just informed that under the close and timely direction of the Ministry of Finance, the State Securities Commission (SSC) and the Vietnam Stock Exchange (VNX), the Ho Chi Minh City Stock Exchange (HoSE) has made efforts and actively coordinated with the Hanoi Stock Exchange (HNX), the Vietnam Securities Depository and Clearing Corporation (VSDC), the Contractor - the Korea Stock Exchange (KRX) and market members to urgently prepare technical infrastructure, complete legal documents; develop a conversion plan and conduct conversion drills so that the system is ready to go into operation.

"This is a comprehensive information technology system for organizing and operating the stock market from registration, depository to trading and payment and clearing. Therefore, some tasks related to ensuring the safety and security of the system and the readiness of members need to be carried out carefully and strictly before putting it into operation..." - the Ministry of Finance informed.

Therefore, HoSE is actively coordinating with HNX, VSDC, and Contractor KRX to review and conduct additional testing to evaluate the system's operation.

“Based on the results of testing and review, the Investor will report to the Ministry of Finance the next implementation roadmap. The Ministry of Finance will proactively inform the press and investors when there is new content related to the operation of the KRX system…” - said the Ministry of Finance.

It is known that the KRX system is an information technology system for managing and operating transactions on the Vietnamese stock market, signed by HoSE with the Korean Stock Exchange (KRX) in 2012 with the aim of upgrading the technology and infrastructure of VNX.

The KRX system was announced to be officially put into operation from May 2, 2024. However, the State Securities Commission has sent an urgent dispatch to the Stock Exchanges and VSDC in response to the request for approval to officially operate the KRX information technology system.

Accordingly, the State Securities Commission does not have sufficient basis to approve HoSE's proposal to put the KRX information technology system into official operation on May 2, 2024.

Accordingly, the upcoming KRX system is expected to significantly shorten the settlement time, from T+2.5 in the current system to T+0, allowing investors to buy and sell stocks continuously during the day on the underlying stock market - similar to the derivatives market.

In addition, the KRX system also creates the foundation for deploying additional option contract products, promoting pre-programmed algorithmic trading, such as: super short-term surfing (Scalping), pair trading (Pair trading), grid trading (grid)...