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An investor appears at inventory costs on a smartphone at a brokerage in Ho Chi Minh Metropolis. Picture by VnExpress/Quynh Tran
The Ho Chi Minh Inventory Trade will proceed to make use of the buying and selling system developed by FPT whereas ready for a substitute from South Korea, Ministry of Finance and bourse officers stated.
The system developed by FPT Data System, a subsidiary of the tech large, in July final 12 months helped deal with the buying and selling load that had change into unsustainable for round half a 12 months.
It elevated the capability of Vietnam’s predominant trade from 900,000 transactions a day to 5 million.
On November 19 final 12 months the most important ever variety of transactions of 1.84 million was recorded, or only a third of what the system may deal with, Dang Truong Thach, deputy director of FPT IS, identified.
Deputy Minister of Finance Nguyen Duc Chi stated its substitute, KRX, is being developed in South Korea and seen fast progress.
“Will probably be prepared inside months.”
It’s being developed beneath a VND600-billion (US$25.69 million) deal signed in 2012 between HoSE and the Korea Trade.
It should enable odd-lot buying and selling and a T+0 settlement cycle (which means traders will obtain their shares or cash on the day of commerce as an alternative of two days later).
For the final 10 years HoSE has repeatedly been lacking deadlines for putting in a brand new system.
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