Trading system handling up to 5 million orders per day to be launched soon

SGGP
Speaking at the online seminar " Order congestion at the Ho Chi Minh City Stock Exchange: the current situation and solutions" organized by the Securities Journalists’ Club on June 24, Mr. Tran Van Dung, Chairman of the State Securities Commission, said that when order congestion occurred, the Ministry of Finance considered this incident a national emergency, and has concentrated all resources to handle it completely. One of the biggest goals is not to let the market halt for even a day.
Trading system handling up to 5 million orders per day to be launched soon ảnh 1  Mr. Tran Van Dung, Chairman of the State Securities Commission. (Photo: SGGP)
According to Mr. Le Hai Tra, General Director of HoSE, on June 24, the Steering Committee on handling order congestion on the HoSE had a meeting with Deputy Minister of Finance Huynh Quang Hai to announce the time for deploying FPT's new system. Accordingly, the stock trading system with the participation of FPT will be completed by the end of June or the beginning of July, increasing the processing capacity of HoSE from 900,000 orders per day to 3-5 million orders per day.

Explaining more about the order congestion situation, Mr. Tra said that the maximum number of orders the system can handle on a trading day is 900,000. However, over the past time, the number of orders in the market exceeded 900,000 orders, causing order congestion. 

Trading system handling up to 5 million orders per day to be launched soon ảnh 2 Mr. Le Hai Tra, General Director of HoSE. (Photo: SGGP)
Regarding the situation of editing and canceling orders, according to Mr. Tra, they are all efforts of HoSE and securities companies to handle the number of orders participating in the trading system that causes congestion. By raising the round lot from 10 to 100 shares, with the available data that the HoSE got, the number of orders was reduced by 15-18 percent, there were more matched orders, and the trading value increased. However, these solutions did not last long because the number of new accounts is still forecast to rise.

As for the new information technology system for the entire stock market of Korea (KRX), Mr. Tran Van Dung, Chairman of the State Securities Commission, said that the trial of the system of KRX would take place in about six months, and the system could officially be put into operation by the end of 2021.

By Ha My – Translated by Bao Nghi

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