Faulty systems haunt brokerages in morning session

By Dat Nguyen   July 7, 2021 | 03:53 pm GMT+7
Faulty systems haunt brokerages in morning session
Investors looks at stock prices on a screen at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
Issues were reported in the systems of several stock brokerages Wednesday morning that prevented investors from making timely and informed decisions.

SSI Securities Corporation at around 11 a.m. announced to its customers that all orders would be halted since they were delayed or submitted incorrectly.

Similar situations were seen at other brokerages like VPS, VNDirect and Mirae, which blocked investors from either selling to cut their losses or purchase stocks at a low price after the market plunged more than 56 points Tuesday.

Investors reported stocks data were delayed and incorrect. Some could not access websites or apps to trade.

Nguyen The Minh, head analyst at brokerage Yuanta Vietnam, said the issues could arise from the fact that HoSE is using a new system developed by tech giant FPT, with brokerages working to make changes to its system to sync with the new one.

In the afternoon session SSI said its system had returned to normal. Other brokerages also seem to have resolved their issues.

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