Specifically, from March 4 to 8, HOSE will convert the system. Securities companies prepare the system for conversion according to schedule, and conduct system testing on March 7.
KRX is expected to bring new products, trading and payment solutions to the Vietnamese stock market.
From March 11 to 15, securities companies will test the entry of trading orders, ensuring securities trading activities are like a normal trading day.
HOSE notes that the first day on the system is March 4. Data for the first trading day is the end of March 1; securities companies are requested to proactively develop their own conversion plans (if necessary) and seriously conduct drills.
Previously, at the gong-beating ceremony to open the stock exchange in the spring of Giap Thin on February 19, Ms. Nguyen Thi Viet Ha, acting Chairwoman of HOSE, said that the KRX project had made some significant progress, completing the final user testing (FAT) phase and moving towards considering the system's deployment in the near future.
At the press conference for the fourth quarter of 2023 held at the end of January, answering Thanh Nien 's question regarding the preparation of conditions for upgrading the Vietnamese stock market, including the KRX system, Deputy Minister of Finance Nguyen Duc Chi said that regarding the new trading system, in the past 2 years, the Ministry of Finance has closely directed and urged investors and directly related units to work with contractors to implement the work. By the end of 2023, the system will be basically completed technically.
During the trial run, direct units and market members actively implemented the project. The Ministry of Finance directed the investor to coordinate with the contractor to ensure that the system is stable, safe and controls all risks, then it will decide to put the system into operation.
KRX is an information technology system for managing and operating transactions on the Vietnamese stock market, signed by HOSE with the Korea Stock Exchange (KRX) in 2012. This project aims to upgrade the system technology and infrastructure of the stock exchange in Vietnam.
KRX is expected to bring new products, trading and payment solutions to the Vietnamese stock market such as: intraday trading (T+0), short selling, shortening payment time, option contracts... This also creates the premise to solve bottlenecks to move towards upgrading the market from marginal to emerging such as central clearing, improving infrastructure quality.
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