The rapid development of its stock market forced the HCMC Stock Exchange (HOSE) to test a new remote trading system this October.

Remote trading will decrease congestion at the securities exchange

CEO of HOSE Tran Dac Sinh said that the new system is aimed at accelerating market activity by allowing orders to go from brokerages directly to the bourse. The current system requires representatives from securities firms to physically input the order at the exchange.

“At the outset, Remote DCTerm will be installed at one or two securities firms. Gradually over time, all firms capable of remote trading will be equipped,” said Mr. Sinh.

Once operational, remote trading will enable investors to place orders via the internet or mobile phones. HOSE also affirmed that the current system will be maintained for those securities firms which are unable to implement the new system.

At present, HOSE is rushing to develop gateway networks geared towards the connection as well as developing regulations on online trading. Stock brokerages have voiced their support for the new system in the belief that it will encourage more investors to participate in the market.

Many securities firms are currently improving their IT infrastructure to meet the requirements of remote trading. Some, including Empower Securities Corporation, Viet Dragon Securities Corporation, Au Lac and VNDirect, have already taken the lead as they can receive orders directly from the internet.