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Brokerages selected for system test
The Ho Chi Minh City Stock Exchange (HOSE) on Sept. 26 released the names of seven brokerages that will participate in trial runs over the next month for the bourse’s new remote trading system.
The companies are Saigon Securities Inc, Sacombank Securities, Incombank Securities, Vietcombank Securities, BIDV Securities, ACB Securities and Bao Viet Securities.
“The seven firms met technology requirements, which have been checked and verified,” said Le Hai Tra, HOSE deputy director, adding they are also among the largest and most prestigious brokerages on the market.
“The trials will be hard, so companies have been given some time to make last minute upgrades to their computer systems before testing commences.”
Remote trading is a new, faster system the bourse hopes to have in place by the end of the first quarter of next year. It essentially eliminates the need for stock brokers to physically input clients’ orders at the exchange.
Once done with the seven, the exchange will test three other brokerages that have registered to partake in remote trading.
VNA
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