The market regulator said it would go on with the restructuring of the securities companies.— (Photo: stocknews24.net) Hanoi (VNS/VNA) - The State Securities Commissionhas asked brokerage companies to further strengthen their trading system toensure safe and smooth transactions for investors in the stock market.
This request was prompted by a recent slew of systembreakdowns at brokerage firms that limited investors’ ability to place ordersto buy or sell shares.
SSC Vice Chairman Pham Hong Son requested securitiescompanies improve their operations and financial security, particularly theirinformation technology system, to ensure smooth operations.
On October 25, a system malfunction occurred with theelectronic trading system of VNDirect Securities Joint Stock Company,preventing investors from placing orders through the broker’s platforms.
On September 25, a connection failure happened with the wholetrading system of Saigon Securities Inc, including SSI Webstrading, SSI MobileTrading and SSI Pro Trading, which resulted in the investors’ inability to login to the system as well as make transactions.
This is the second time SSI experienced system failure afterthe first crash in January this year. Right after the error, SSI Chairman NguyenDuy Hung sent an apology to clients and promised to continue to invest in bothhuman resources and the IT system to ensure safety in the future.
Both SSI and VNDirect are among the top 10 biggest securities companies in Vietnam’sstock market. Any system failures in their trading systems will significantlyaffect investors’ transactions.
At the annual meeting of market members on October 26, themarket regulator said it would go on with the restructuring of the securitiescompanies. Those that are not fully financial capable will be closely monitoredand any violations which negatively affect the healthy and sustainabledevelopment of the market will be strictly handled.
Representatives of the two national exchanges also said theywould strengthen the management and supervision of market members to ensure thediscipline in the market and integration with the regional securities market.At the same time, they would also diversify services provided to members.
To date, there are 72 brokerage firms operating on the stockmarket.
Many small companies have hiked charter capital and restructured personnel, butin the first six months, 18 of 72 companies still suffered losses.-VNS/VNA
This request was prompted by a recent slew of systembreakdowns at brokerage firms that limited investors’ ability to place ordersto buy or sell shares.
SSC Vice Chairman Pham Hong Son requested securitiescompanies improve their operations and financial security, particularly theirinformation technology system, to ensure smooth operations.
On October 25, a system malfunction occurred with theelectronic trading system of VNDirect Securities Joint Stock Company,preventing investors from placing orders through the broker’s platforms.
On September 25, a connection failure happened with the wholetrading system of Saigon Securities Inc, including SSI Webstrading, SSI MobileTrading and SSI Pro Trading, which resulted in the investors’ inability to login to the system as well as make transactions.
This is the second time SSI experienced system failure afterthe first crash in January this year. Right after the error, SSI Chairman NguyenDuy Hung sent an apology to clients and promised to continue to invest in bothhuman resources and the IT system to ensure safety in the future.
Both SSI and VNDirect are among the top 10 biggest securities companies in Vietnam’sstock market. Any system failures in their trading systems will significantlyaffect investors’ transactions.
At the annual meeting of market members on October 26, themarket regulator said it would go on with the restructuring of the securitiescompanies. Those that are not fully financial capable will be closely monitoredand any violations which negatively affect the healthy and sustainabledevelopment of the market will be strictly handled.
Representatives of the two national exchanges also said theywould strengthen the management and supervision of market members to ensure thediscipline in the market and integration with the regional securities market.At the same time, they would also diversify services provided to members.
To date, there are 72 brokerage firms operating on the stockmarket.
Many small companies have hiked charter capital and restructured personnel, butin the first six months, 18 of 72 companies still suffered losses.-VNS/VNA
VNA
