Hanoi: 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).
During April 24 and 25, securities companies will undergo connectivity checks with HoSE. By April 26, end-of-day data will be transferred to HoSE’s new trading system.
The exchange mandates proactive data preparation by securities companies for the transition.
From April 27 to 29th, HoSE will switch the system, requiring securities companies to set plans and preparations to ensure synchronised implementation.
On April 30, securities companies will conduct the transition test. The trading date on the new system is May 2. The trading data will be based on the end-of-day data from April 26.
Securities companies will test their trading smoothly on their own systems with the new HoSE system, as if it were a normal trading day.
The HoSE emphasised that securities companies must not use automated order entry software and should a
void testing unrealistic and abnormal scenarios.
By the end of April 30, based on the test results, the bourse will announce the official implementation of the new trading system.
In the event official implementation is delayed, securities companies should be prepared to continue trading on the current trading system.
The Hanoi Stock Exchange (HNX) had previously announced the implementation of the KRX system, with the aim of officially operating from May 2.
KRX is an information technology system that manages and operates securities trading in the stock market. HoSE signed a technology transfer agreement with the Korea Exchange (KRX) in 2012 to develop the KRX system.
The KRX system’s operation is expected to bring about changes in the market, such as intraday trading (T+0), short selling, shortened settlement time and option contracts.
This system sets the foundation for resolving bottlenecks and progressing towards upgrading from frontier market to emerging market status.
According to HoSE’s initial
plan, the KRX system was scheduled to be operational on December 25, 2023, but it has been delayed until now./.
Source: Vietnam News Agency