The Hanoi Stock Exchange (HNX) is testing a new power board on its system to address the frequent overload issues on the Ho Chi Minh Stock Exchange (HoSE).
Two traders looks at stock prices in front of a big screen. HNX carried out measures to solve congestion on HoSE (Photo: VNA)
Hanoi (VNS/VNA) - The Hanoi Stock Exchange (HNX) is testing a newpower board on its system to address the frequent overload issues on the Ho ChiMinh Stock Exchange (HoSE).
HNX just informed its member securities firms about the trial of creating a newpower board for HoSE’s stocks.
This is one of many solutions considered by government agencies to solveoverload problems that have occurred more often recently, affecting investors’sentiment.
The new power board will follow all of HoSE regulations including sessionstructure, amplitude, order type, price step, or trading lot. The connection,placing order, receiving results and payment will be navigated from securitiesfirms to HNX system.
HNX also drafted specification documents on processes and technology to send tomember securities companies to cooperate in researching and testing. If anysecurities firm has finished modifying the system, it can register to test thetransaction connection with the HNX.
The move came a week after HNX collected opinions from securities firmsregarding time for upgrading software systems.
On March 3, the State Securities Commission (SSC) of Vietnam sent documents toHoSE, HNX and Vietnam Securities Depository (VSD) on the transfer of listedshares from HoSE to HNX. SSC requested HNX to promptly receive and processlisted companies on HoSE, without reviewing their records under the new listingprocess.
The transaction structure, transaction supervision, listing management,reporting and information disclosure regulations of transfer stocks will be thesame as those listed on the HNX. HOSE and HNX coordinate in supervisingtransactions for these stocks to ensure continuity in supervision.
Other solutions such as rising minimum trading lots to 1,000 units are beingconsidered. HoSE is also consulting with market participants and investors onnot allowing adjusting or cancelling orders to find the best solution for thecongestion on the southern exchange.
Last week, the VN-Index rose slightly 0.02 percent. The index failed to testthe psychological resistance level of 1,200 points again as selling pressurepersisted and the frequent overload of orders during trading hours on HoSEaffected transactions, making investors' sentiment turn negative./.
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Two traders looks at stock prices in front of a big screen. HNX carried out measures to solve congestion on HoSE (Photo: VNA) 
