The State Securities Commission of Vietnam over the past time hasconstantly applied information technology in market supervising toimprove management efficiency, ensure transparency and protect the legalrights of investors, said the Vietnam Business Forum (VIB Forum).
Theweekly magazine of the Vietnam Chamber of Commerce and Industry quotedDoan Thanh Tung, Director of the Department of Information Technologyunder the State Securities Commission, as saying this is essential inorder to meet the market's development in the future.
Accordingto statistics, currently Vietnam's stock market has 694 listed companieson two exchange floors and 137 companies registered for trading on theUPCom floor along with 105 securities companies, 47 fund managementcompanies in the country, 11 custodian banks and 42 auditing companieswhich have operation licence. There are also 1,912 joint stock companieswhose shares are registered to transact through OTC floor.
Alongwith the development of the economy, the number of listed companies onthe stock market will rise in the future. Therefore, to ensure thesafety of the payment system for securities transactions, the StateSecurities Commission, in cooperation with exchange departments andsecurities depository centres, has enhanced supervision of transactionmembers, disclosure of information, rumours, and registration,depository, clearing and settlement of securities depository membersactivities, etc.
The application of information technology inmonitoring and information disclosure on stock market has been appliedby the State Securities Commission in 2013. According to Doan ThanhTung, this will help improve the market’s transparency and fairness,strengthen the protection of investors in the market through the abilityto set criteria for early warning as well as perform warning criteriaaccording to rumours and erratic information, provide analysis of markettransactions and support management and supervision of securitiestransactions on the market to meet the operation and developmentrequirements of Vietnam’s stock market and bring it closer tointernational practices and standards.
According to Doan ThanhTung, MSS Securities Trading System has initially promoted itsefficiency. Particularly, it ensures transaction activities on the stockmarket in compliance with the provisions of the Securities Law andother relevant regulations, detects and provides alerts for abnormaldeals, and gives strict sanctions for acts violating stock transactionlaws and provisions.
Evaluating the results of the application ofinformation technology in supervision and management, Director DoanThanh Tung said, in 2013, the State Securities Commission had 1,000public company piloted for information disclosure system (IDS). Thesystem has contributed to the initial computerization of supervisionfunction and information disclosure on the stock market. This willbenefit public companies in the implementation of the obligation toreport and information disclosure. At the same time, this will helpmanagement agencies to shorten the time of gathering information, toaccelerate information time processing and to timely discloseinformation to the market.
When the stock market is growing,besides the participation of companies in the country, foreign investorswill be interested in and get even more involved in Vietnam's stockmarket, which will bring higher risks for the market such asmanipulation and fake price. Therefore, to meet the developmentrequirements, the State Securities Commission should strengthensupervision and management capability in order to protect the legitimaterights of investors and ensure market’s sustainability.
Under the plan, in 2014, the State Securities Commission will focus closely on supervising businesses and organisations.
Inthe future, the State Securities Commission will continue to deployapplications to support the management and supervision of the marketsuch as building a database system managing stock companies, fundmanagement companies and investment funds; building a databasemanagement system for people practising securities and foreigninvestors, etc.
It will also ensure the alignment and effectivecoordination between the information system of the State SecuritiesCommission with information system of the Ministry of Finance, stockexchange departments, securities depository centres and other relatedunits.
Theweekly magazine of the Vietnam Chamber of Commerce and Industry quotedDoan Thanh Tung, Director of the Department of Information Technologyunder the State Securities Commission, as saying this is essential inorder to meet the market's development in the future.
Accordingto statistics, currently Vietnam's stock market has 694 listed companieson two exchange floors and 137 companies registered for trading on theUPCom floor along with 105 securities companies, 47 fund managementcompanies in the country, 11 custodian banks and 42 auditing companieswhich have operation licence. There are also 1,912 joint stock companieswhose shares are registered to transact through OTC floor.
Alongwith the development of the economy, the number of listed companies onthe stock market will rise in the future. Therefore, to ensure thesafety of the payment system for securities transactions, the StateSecurities Commission, in cooperation with exchange departments andsecurities depository centres, has enhanced supervision of transactionmembers, disclosure of information, rumours, and registration,depository, clearing and settlement of securities depository membersactivities, etc.
The application of information technology inmonitoring and information disclosure on stock market has been appliedby the State Securities Commission in 2013. According to Doan ThanhTung, this will help improve the market’s transparency and fairness,strengthen the protection of investors in the market through the abilityto set criteria for early warning as well as perform warning criteriaaccording to rumours and erratic information, provide analysis of markettransactions and support management and supervision of securitiestransactions on the market to meet the operation and developmentrequirements of Vietnam’s stock market and bring it closer tointernational practices and standards.
According to Doan ThanhTung, MSS Securities Trading System has initially promoted itsefficiency. Particularly, it ensures transaction activities on the stockmarket in compliance with the provisions of the Securities Law andother relevant regulations, detects and provides alerts for abnormaldeals, and gives strict sanctions for acts violating stock transactionlaws and provisions.
Evaluating the results of the application ofinformation technology in supervision and management, Director DoanThanh Tung said, in 2013, the State Securities Commission had 1,000public company piloted for information disclosure system (IDS). Thesystem has contributed to the initial computerization of supervisionfunction and information disclosure on the stock market. This willbenefit public companies in the implementation of the obligation toreport and information disclosure. At the same time, this will helpmanagement agencies to shorten the time of gathering information, toaccelerate information time processing and to timely discloseinformation to the market.
When the stock market is growing,besides the participation of companies in the country, foreign investorswill be interested in and get even more involved in Vietnam's stockmarket, which will bring higher risks for the market such asmanipulation and fake price. Therefore, to meet the developmentrequirements, the State Securities Commission should strengthensupervision and management capability in order to protect the legitimaterights of investors and ensure market’s sustainability.
Under the plan, in 2014, the State Securities Commission will focus closely on supervising businesses and organisations.
Inthe future, the State Securities Commission will continue to deployapplications to support the management and supervision of the marketsuch as building a database system managing stock companies, fundmanagement companies and investment funds; building a databasemanagement system for people practising securities and foreigninvestors, etc.
It will also ensure the alignment and effectivecoordination between the information system of the State SecuritiesCommission with information system of the Ministry of Finance, stockexchange departments, securities depository centres and other relatedunits.
