Ministry takes action to resolve network congestion on HoSE

The Ministry of Finance (MoF) had a meeting with FPT Corporation to discuss solutions to solving problems in stock trading on the afternoon of March 9.

At the meeting, Finance Minister Dinh Tien Dung requested that network congestion on the Ho Chi Minh City Stock Exchange (HoSE) must soon be handled completely. Units under the MoF should simultaneously build many immediate and long-term solutions to ensure the safe operation of the trading system.

The MoF and FPT shared the same point of view that the solution to apply the trading system that is currently being operated at the Hanoi Stock Exchange (HNX) to the HoSE trading system is completely feasible. It only takes three to four months to deploy and perfect the trading system to completely handle network congestion when trading securities.

At the meeting, Mr. Truong Gia Binh, Chairman of FPT Corporation, affirmed his determination to accompany the MoF in building solutions to remove network congestion in stock trading on the HoSE in the shortest time.

Minister Dinh Tien Dung also asked relevant units under the ministry and the HoSE to actively coordinate with FPT to implement measures to resolve network congestion in stock transactions. The implemented solution should not disrupt the market and affect investors.

The MoF will soon report to the Prime Minister a plan to deal with the network congestion in securities trading. It will not adopt the proposal to increase the minimum trading lot to 1,000 shares, but encourage the voluntary transfer of some stocks from the HoSE to the HNX to reduce the load on the HoSE trading system, ensuring safe operation of the stock trading system.