HOSE pilots online trading ahead of wider access

Securities companies should officially be able to offer online trading services by July after the completion of a trial connection with the Ho Chi Minh City Stock Exchange (HOSE).

HOSE and 25 member securities companies and software suppliers have agreed to set up online transactions on March 4.

Brokerages that can successfully link with HOSE will be officially connected with the stock exchange.

Normal trading will continue for members not ready to connect and as a back up in case the remote trading system breaks down.

Securities companies that do not connect directly with HOSE in the first phase will be allowed to link up after satisfying technological requirements.

To implement online trading, HOSE will build a gateway to assist connection between brokerages and the stock exchange.

The HOSE gateway will receive orders from brokerage systems while sending trade information and market information to them in return.

To assure the success of the connection, securities companies will have two months to work with software providers to prepare for the trial connection.

VNA

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