Securities firms disallow changing, cancelling orders

By Phuong Dong June 2, 2021 | 12:50 am PT

An investor looks at stock prices on the screens at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.

Some brokerages suggested that investors refrain from cancelling and modifying orders on the main bourse in Wednesday’s session to avoid system overload.

VNDirect announced that it was halting the option of cancelling and modifying orders on the Ho Chi Minh Stock Exchange (HoSE) from 9:50 a.m. to 3:30 p.m. FPT Securities also made the same decision.

Meanwhile, SSI Securities Corporation recommended that investors desist from cancelling or modifying their orders. The recommendation was repeated thrice in the morning session.

Investors reported having trouble placing orders in the morning with slow responses from brokerages’ price boards.

They added that it took them five to ten minutes to place an order as the system slowed down, making it difficult for investors to trade at their desired price.

Trading value as of 11:10 a.m. plunged by half from Tuesday’s to VND9.43 trillion ($409 million). The trading value in the morning session was less than the VND15 trillion plus that morning sessions have seen for the last seven days.

The HoSE Tuesday had shut down trading for the first time after the morning session as a trading surge overloaded its system.