A trading system developed by tech giant FPT is set to help ease overload on the main HoSE bourse starting next month.
The transition from the existing Ho Chi Minh Stock Exchange (HoSE) system to FPT’s will be conducted in the last three weeks of this month, Duong Dung Trieu, chairman of FPT Information System, told VnExpress.
FPT’s system will have a capacity of 3-5 million transactions a day, or three times that of the existing one.
The new system is being tested by all 73 brokerages. Over 80 percent of technical issues have been dealt with.
Work remains in optimization, security and transition from the old to the new system.
FPT’s system will be used as a temporary solution while a new trading platform built by Korea Exchange is developed.
Trieu said a typical trading system takes years to complete, while FPT only started work in March this year when overload on the main bourse had been going on for three months.
A total 50 FPT and 30 HoSE staff had been working together on modifying Hanoi Stock Exchange software to use at HoSE.
Trading on Vietnam’s main bourse, HoSE, has skyrocketed in the past 18 months, overloading its system amid a surge in the number of new domestic investors.
This article was originally published in tuoitre
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Source: Vietnam Insider