HSX trading congestion to be addressed in July

Investors are looking forward to the new infrastructure on HSX, which will halt the trading congestion in July. Photo: tinnhanhchungkhoan.vn

Ho Duc Phoc, Minister of Finance, said that trading congestions on the HSX will be addressed in July.

"The Ministry of Finance (MoF) is implementing drastic solutions to thoroughly handle the technical outages on HSX. The MoF, the State Securities Commission, HSX, and related units have been making great efforts to address this problem,” emphasised the minister.

The prolonged technical issues and overload have been cause for widespread concern over the past few months and have prompted relevant authorities to implement many urgent solutions such as increasing the board lot size from 10 to 100, stopping the trading of newly-listed shares on HSX, technical improvements from FPT. The latest solution will be the forthcoming adoption of technical infrastructure from the Korea Exchange (KRX).

Restrictions to preserve system stability have not gone down altogether too well among investors, who have been criticising securities companies for restricting them from editing and cancelling orders on HSX since June 2.

The implementation of KRX infrastructure will take place between June 14 and August 6, with the official launch expected in the third or fourth quarter of this year.

In the latest initiative, the MoF signed Decision No.81/QD-TTr on June 10 on administrative inspection at the HSX over the bourse’s trading congestion.

“Based on the current situation of the COVID-19 outbreak in Ho Chi Minh City, the inspection team will draw up a specific work plan in line with regulations on COVID-19 prevention and control,” the MoF said in an official announcement.