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VNDirect falls from top 3 brokerage market share after cyber attack
The Hồ Chí Minh Stock Exchange (HoSE) has just released the list of the top ten securities firms with the largest brokerage market share in the first quarter of 2024.
VPS's trading office in Hà Nội. — Photo vps.com.vn
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VPS Securities JSC (VPS) maintains its leading position in the securities brokerage market on HoSE, capturing a 20.3 per cent market share, a gain of 1.2 per cent from the end of the previous year, significantly distancing itself from its competitors.
SSI Securities Corporation (SSI) secures the second position with a market share of over 9.3 per cent, but experiencing a slight decrease of more than 1 per cent from 2023.
Remarkably, the third position, previously held by VNDirect Securities Corporation, has shifted to Techcom Securities (TCBS), which now holds a 6.6 per cent market share.
As of the end of the first quarter, VNDirect's market share in the securities brokerage market on HoSE has dropped to just over 6 per cent, positioning it fourth on the list.
The fall can be attributed to a cyber attack on VNDirect's system, resulting in a complete halt of trading during the final week of March.
The VNDirect system was targeted and attacked on March 24. As a result, its entire system, including the website and application, was blocked, preventing hundreds of thousands of investors from placing orders or withdrawing funds.
It was not until the morning of April 1 that the securities company announced the reactivation of their system. However, many investors still reported numerous errors that prevented them from conducting trades normally.
Currently, the securities firm has assured that the stock trading flow on the trading board and the application has stabilised. The company will continue to enhance and gradually restore all trading channels within the system.
Vietcap Securities moved up to the sixth position, capturing a 5.57 per cent market share. It previously ranked eighth with 4.6 per cent.
On the other hand, Mirae Asset Securities slipped to the eighth position with a 4.64 per cent of market share, while Hồ Chí Minh City Securities Corporation (5.9 per cent) and MB Securities (5 per cent) maintain their positions.
FPT Securities (FPTS) fell to tenth place, holding a 2.82 per cent of market share. It conceded the ninth position to Vietcombank Securities (VCBS), which claimed a 3.02 per cent market share.
In the previous quarter, VCBS was not included in the top ten market share rankings.
KIS Securities no longer appears in the top ten market share rankings on HoSE. In the previous quarter, KIS held the tenth position with a 2.84 per cent of market share.
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