New stock trading system from RoK to be tested after Tet hinh anh 1Tran Van Dung, Chairman of the State Securities Commission of Vietnam (SSC), speaks at the January 19 press conference. (Photo: VNA)

Hanoi (VNA) - A trial run of a stock trading system from the Republic of Korea with securities companies will be conducted after the Tet (Lunar New Year) holiday, Tran Van Dung, Chairman of the State Securities Commission of Vietnam (SSC), told a press conference on January 19.

Provided by the Korean Exchange (KRX), the new system is expected to be officially put into use at the end of the year, he added.

After five or six months of talks, the KRX agreed to send experts to assist in the trial run, and they have arrived in Ho Chi Minh City.

Tests of the new system could be affected by multiple factors, he continued. For example, if the COVID-19 situation takes a turn for the worse, it may disrupt the experts’ travel. If errors occur, meanwhile, the time needed to fix them remains unknown, the SSC leader said.

“We cannot guarantee that it will be 100 percent on schedule, but we have back-up plans for potentially adverse events,” he said.

He added that the new system should be operational as soon as possible as a solution against recent system failures caused by excessive trading orders on the HCM City Stock Exchange (HoSE).

The KRX signed an agreement with its Vietnamese counterpart in 2016 on establishing advanced IT infrastructure for the latter’s stock market, the RoK news agency Yonhap reported./.

VNA