On the afternoon of March 6, a series of securities companies announced system disruptions. Many investors said they could not trade.
After the morning session of March 6, when the stock market traded normally, HoSE (Ho Chi Minh City Stock Exchange) suddenly had order congestion and blackout at some points in the afternoon session.
Many investors on stock forums said that the electricity board almost stopped trading of stocks on HoSE. Some investors could not even place orders.
A series of securities companies such as VPS, MBS, FPTS, VDSC… then sent notices to investors about the above incident via software or brokerage staff. Companies and brokers advise investors not to place, cancel or modify orders until there is an update.
Notice from securities companies and brokers to investors on March 6 (Photo: Khong Chiem).
Information to reporters Dan tri, a broker of a securities company, said that around 1pm today, HoSE floor had a connection error, affecting securities companies. At 1:17 p.m., the HoSE side was back to normal operation. However, this situation did not last long, the floor “constantly flickered, orders could not be entered, random and jerky”. HoSE side has no information yet.
Previously, in 2021, order congestion on HoSE also happened. This situation was then resolved while waiting for the new system.
This order congestion situation occurs in the context that the new KRX system is entering the sprint phase before operation. This is an information technology system that manages and operates transactions on the Vietnamese stock market, signed by HoSE with the Korean Stock Exchange in 2012, and is expected to come into operation in 2024.
Last week, HoSE said that from March 4 to March 8, it will convert the new information technology system KRX. When the KRX system comes into operation, it is expected to bring changes in the market, such as intraday trading (T+0), short selling, shortening payment time, and option contracts. contract)…
From there, this system creates a premise for solving bottlenecks to move towards upgrading the market from marginal to emerging such as: central clearing payment (CCP), improving infrastructure quality… .
