Business

HoSE to launch KRX trading system on May 2

Securities companies are set to switch to the new KRX trading system from April 24 to April 30 for official operation on May 2, said the Ho Chi Minh City Stock Exchange (HoSE).
HoSE to launch KRX trading system on May 2 ảnh 1An investor observes stock movements at the headquarters of HoSE in HCM City. (Photo: VNA)
Hanoi (VNS/VNA) - Securities companies are set to switch to the newKRX trading system from April 24 to April 30 for official operation on May 2,said the Ho Chi Minh City Stock Exchange (HoSE).

DuringApril 24 and 25, securities companies will undergo connectivity checks withHoSE. By April 26, end-of-day data will be transferred to HoSE's new tradingsystem.

Theexchange mandates proactive data preparation by securities companies for thetransition.

FromApril 27 to 29th, HoSE will switch the system, requiring securities companiesto set plans and preparations to ensure synchronised implementation.

OnApril 30, securities companies will conduct the transition test. The tradingdate on the new system is May 2. The trading data will be based on theend-of-day data from April 26.

Securitiescompanies will test their trading smoothly on their own systems with the newHoSE system, as if it were a normal trading day.

TheHoSE emphasised that securities companies must not use automated order entrysoftware and should avoid testing unrealistic and abnormal scenarios.

By theend of April 30, based on the test results, the bourse will announce theofficial implementation of the new trading system.

In theevent official implementation is delayed, securities companies should beprepared to continue trading on the current trading system.

TheHanoi Stock Exchange (HNX) had previously announced the implementation of theKRX system, with the aim of officially operating from May 2.

KRX isan information technology system that manages and operates securities tradingin the stock market. HoSE signed a technology transfer agreement with the KoreaExchange (KRX) in 2012 to develop the KRX system.

The KRXsystem's operation is expected to bring about changes in the market, such asintraday trading (T+0), short selling, shortened settlement time and optioncontracts.

Thissystem sets the foundation for resolving bottlenecks and progressing towardsupgrading from frontier market to emerging market status.

Accordingto HoSE's initial plan, the KRX system was scheduled to be operational onDecember 25, 2023, but it has been delayed until now./.
VNA
#Ho Chi Minh City Stock Exchange #HoSE #KRS trading system #securities companies #Hanoi Stock Exchange #HNX #updated Vietnam news #Vietnamplus #Vietnam News Agency
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