HCMC Debuts Online Stock Trading
Jan. 12 – The Ho Chi Minh Stock Exchange (HOSE) will begin online trading today allowing securities companies to contact the HOSE gateway directly to place orders.
Securities companies will be equipped with a 128-kbps line able to send up to 85 handled per second, compared to 85 handled in recent tests, reports the Vietnam News Agency.
“Online trading enables the automation of order receiving, processing and confirming, thus improving liquidity, transparency and fairness while minimising time, risks and costs,” HOSE spokesman and executive member, Le Hai Tra, told the Vietnam News Agency.
Previously, securities companies would receive orders from customers then confirm if it complies to regulations. Afterwards, the orders are sent to their representatives at HOSE. The representative will then place the orders to the HOSE's trading system for matching. The process takes around eight to 10 seconds to complete.
An estimated 69 securities companies will begin online trading today in the meantime the rest will continue with the manual method.
Tra added that for the first two weeks of online trading, the participating 69 companies will still maintain representatives at HOSE to anticipate any glitches.
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