HoSE has just sent a notice to securities companies about the plan to convert to the new trading system (KRX) in preparation for official implementation. According to the notice, on April 24-25, securities companies will conduct connection tests with the Ho Chi Minh City Stock Exchange.
On April 26, the end-of-day data will be converted to the new trading system of the Exchange. During the three days of April 27-29, HoSE will convert the trading system. At the end of April 30, the Exchange will announce the official implementation of the new trading system. The trading day on the system is May 2. Trading data is the end-of-day data of April 26.
"In case it cannot be done, securities companies will proactively prepare to continue trading on the current system," HoSE noted.
Ho Chi Minh City Stock Exchange. (Photo: VNA)
KRX is an information technology system designed by the Korea Stock Exchange (KRX). This system provides many new utilities, most notably supporting investors to trade odd lots on a separate board and buy and sell stocks within the day (T+0). The package for designing, supplying, installing and transferring the information technology system was signed by HoSE with KRX in 2012, worth 600 billion VND.
Initially, HoSE expected to complete in 2021 but then continuously missed the deadline. The latest time, the new information technology system was scheduled to officially operate at the end of 2023, but the schedule was still postponed.
To officially run KRX trading, HoSE had two system test runs earlier this year.
KRX is highly appreciated by many investors, securities companies and analysts, and is expected to become a "new wind" for the market in the long term. Recently, information about testing and promises of operation have become a major driving force to push stock prices in the securities industry and the general index up significantly.
Before the news that KRX is about to be applied, at the end of the trading session on April 22, VN-Index increased by 15.37 points, equivalent to 1.31% to 1,190.22 points. The entire HoSE floor had 374 stocks increasing, 114 stocks decreasing, and 59 stocks remaining unchanged. The HNX-Index increased by 4.51 points to 225.31 points. The entire floor had 140 stocks increasing, 44 stocks decreasing, and 38 stocks remaining unchanged. UPCoM-Index increased by 0.87 points to 88.02 points. The VN30 basket alone had 23 stocks increasing in price.
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