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Online trading to begin in HCM City   2009-01-11 - VNA

Online trading is scheduled to begin at the Ho Chi Minh City Stock Exchange next Monday, according to HOSE officials.

The Ho Chi Minh City Stock Exchange

HOSE spokesman Le Hai Tra said the trading systems of securities companies could now connect directly with the HOSE gateway to send investors’ orders.

Each securities company will have a 128-Kbps line capable of sending up to 85 handled per second, compared to 85 handled in recent tests.

There is another line that can be used in case of an accident.

“Online trading enables the automation of order receiving, processing and confirming, thus improving liquidity, transparency and fairness while minimising time, risks and costs,” said Tra, who is also HOSE’s permanent executive member.

Curently, securities companies receive orders from their customers, check whether the orders conform to regulations, and then send the orders to their representatives at HOSE.

The representative will send the orders to the exchange’s trading system for matching. An order can take around eight to 10 seconds to be processed.

Of more than 90 securities companies currently with representatives at HOSE, 69 could begin online trading on Jan. 12, but the remainders will continue with the present method.

Of 69, 37 will provide clients with online trading software that will provide information on whether the orders conform to regulations.

As for the other 32, customers will send orders to securities companies, where the orders will be checked and then relayed by the companies to HOSE.

Tra said in the first two weeks of online trading, all the 69 companies would maintain their representatives at HOSE to ensure smooth operations.

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