New trading system ready to run in July: FPT
New trading system ready to run in July: FPT
FPT Corporation said the new stock trading system will be ready by July.
The system is part of a cooperation agreement between the tech giant and the Ho Chi Minh Stock Exchange (HoSE).
The transition of this system is expected to be tested in the last three weeks of this month.
The system's capacity is 3 - 5 million transactions a day, at least three times higher than the existing one. It also has a mechanism to allocate orders to securities firms to avoid congestion.
FPT has built the system with a 100-day plan, divided into five phases, including surveys and development. HoSE then checks and tests the system at 24 leading securities companies and opens large-scale testing to 73 members of the market.
At the moment, FPT is in the large-scale testing phase. The new system can handle more than 80 per cent of technical scenarios, as well as other situations.
FPT Information System (FPT IS) is assigned to operate this system for a year while waiting for the Korean Stock Exchange (KRX) to complete the new system. After that, FPT IS will continue to advise HoSE to operate the new system smoothly, without being dependent on foreign technology.
The tech company started building an alternative order matching system at the beginning of March, when the congestion issue on HOSE occurred for three months.
