New stock trading system from RoK to be tested after Tet
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.
Tran 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 stocktrading 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.
Providedby the Korean Exchange (KRX), the new system is expected to be officially putinto use at the end of the year, he added.
After fiveor 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 ofthe 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 remainsunknown, the SSC leader said.
“Wecannot guarantee that it will be 100 percent on schedule, but we have back-upplans for potentially adverse events,” he said.
He added thatthe new system should be operational as soon as possible as a solution againstrecent system failures caused by excessive trading orders on the HCM City StockExchange (HoSE).
The KRXsigned an agreement with its Vietnamese counterpart in 2016 on establishingadvanced IT infrastructure for 🅠the latter’s stock market, the RಌoK news agencyYonhap reported./.
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Tran Van Dung, Chairman of the State Securities Commission of Vietnam (SSC), speaks at the January 19 press conference. (Photo: VNA)
