All securities firms in Vietnam told to connect to KRX system

The Vietnam Stock Exchange (VNX) has issued a stern warning to securities companies: failure to integrate with the KRX system will lead to membership termination. The KRX system, a collaboration between the Ho Chi Minh Stock Exchange (HoSE) and South Korea Stock Exchange since 2012, is an IT platform aimed at enhancing Vietnam's stock market infrastructure. VNX has urged securities firms to actively enhance their IT and human resources to ensure compatibility with the KRX system. Although the KRX system's official launch is slated for December, full functionality will roll out progressively. Only 25 of 76 securities firms have achieved 100% functional testing, as noted by Nguyễn Thị Việt Hà, the acting HoSE chairman. The KRX system promises innovative trading solutions, including T+0 settlement and short selling, positioning Vietnam's market for potential growth.