Vietnam’s new KRX stock trading system which was slated to begin operating on May 2 but has been delayed, is not up to scratch according to sources quoted by The Investor. Of note, one ‘representative of… a securities company’ told the publication that:
“The testing process still has many errors, and there is no guarantee that serious errors or even data loss will not occur when the system officially runs”.
Currently classified as a frontier market by the two key rating agencies—FTSE Russell and MSCI–Vietnam has been actively courting an upgrade. Part of the challenge is that the current trading system does not have the technical capabilities to meet several of the two firms’ criteria. Hence, the new system being provided by Korea–the KRX. It was, however, supposed to be operational as far back as 2015 but has been repeatedly pushed back.
See also: Vietnam’s Stock Market Upgrade Opportunity: Unpacked