The new stock trading system KRX will operate in 2025

At the conference to summarize and deploy the 2025 mission of the Vietnam Stock Exchange (VNX), Ms. Vu Thi Chan Phuong – Chairwoman of the State Securities Commission requested the Ho Chi Minh City Stock Exchange (HoSE) and Hanoi (HNX) and Vietnam Securities Depository and Clearing Corporation (VSDC) will put a new information technology system (KRX) into operation next year. Units also need to research and develop new information technology and transaction systems to ensure they meet the needs of upgrading the market.

VNX and its subsidiaries need to increase proactiveness, predict and specifically report difficulties when upgrading the market and new information technology systems come into operation.

KRX is an information technology system designed by the Korea Stock Exchange (KRX). This system provides many new utilities, most notably supporting investors to trade odd lots on a separate board and buy and sell stocks during the day (T+0). This can attract more investors to join the market, thereby increasing liquidity. KRX is also believed by many securities companies, analysts and investment funds to help upgrade the Vietnam stock market.

Initially, HoSE was expected to complete in 2021 but then repeatedly missed appointments and has not been able to officially operate until now.

In 2025, Exchanges also need to research and develop new products. In particular, the VN100 futures contract is expected to be deployed in the first quarter of next year. In addition, the management agency will have a plan to classify listed stocks, develop indexes and new markets for small and medium enterprises (SMEs) and creative startups.

VN100 index futures contract is a derivative product based on VN100 – an index tracking 100 stocks with top capitalization, liquidity and free transfer rate on HoSE. The reason for choosing the VN100 index was once explained by the SSC representative to reduce the impact of the VN30 basket when this is the only index with futures contracts deployed on the market. Experts have said that the VN30 futures contract has some limitations such as low representativeness and a composition structure that focuses on stocks of the financial and real estate industries.

Previously, when attending conferences, SSC representatives said that the VN100 futures contract could be deployed in 2024, but so far it has still missed the deadline.

In the first 9 months of the year, VNX’s total revenue reached more than 1,746 billion VND, up 27% over the same period last year. Of which HoSE contributed about 1,322 billion VND (up 32%) and HNX contributed 393 billion VND in revenue, up 23%.

VNX profit after tax was 1,719 billion VND, 28% higher than 9 months last year. This department has only achieved 62% of the revenue target but has exceeded the yearly profit plan by 21%.