HoSE Continues to Use FPT's Order Matching System

At the meeting with market members on July 28 at noon, the leaders of the Ministry of Finance (MoF) and the HoSE shared that while waiting for Korea's KRX to start operation, HoSE would extend the use of the solution provided by FPT Information Systems Company (FPT IS - a subsidiary of FPT Corporation).

While waiting for the new information technology project to be completed, HoSE would extend the use of the market trading solution provided by FPT IS, including server and storage equipment, network and security equipment, and system software. Five market members, including Sovico Group, Dragon Capital VietFund Management (DCVFM), SSI Securities, VNDIRECT, and HSC, joined to maintain this solution.

FPT IS's trading solution was first commissioned on July 5, 2021, after a 100-day "campaign" to handle HoSE's technical errors. The project increased the order processing capacity of HoSE from 900,000 to 5 million transactions per day, putting an end to the order congestion that lasted more than half a year.

In one year of operation, the trading session with the highest number of orders was 1.84 million transactions (on November 19, 2021), about one-third of the maximum capacity this system can meet. In addition, FPT IS also assisted HoSE in completing the trial of odd lot transactions and is expected to be able to implement it in August if permitted by the regulator.

Mr. Nguyen Duc Chi, Deputy Minister of Finance, at the meeting with HoSE and market members on July 28. Photo: HSX.

The KRX system is part of a more than VND 600 billion information technology service contract between HoSE and the Korean Stock Exchange (KRX) since 2012. The system is desired to provide multiple utilities such as odd lot trading on a separate table, intraday trading (T+0)...

"Even when KRX is put into operation, the MoF and related units will continue researching more modern technology projects to meet market demand in the next 5-7 years. Furthermore, we will try to avoid a repeat of orders congestion from late 2020 to mid-2021," said Mr. Nguyen Duc Chi, Deputy Minister of Finance.

By VnExpress