Information technology is seen one of the break-through to shorten the experimental period and complete the merging and fast growing stock market of Vietnam. In a recent interview, Doan Thanh Tung, director of the Centre of Securities Informatics and Statistics under the State Securities Committee (SSC) talked about the application of IT into the stock market. Excerpts:
What is the basic content of the project on developing the securities IT?
The project involves all the aspects of the securities with a clear focus on technology infrastructure and the programme applying the IT into the stock market. IT infrastructure will be modernised ensuring the alliance between Hanoi and HCM City Securities Transaction Centre as well as Vietnam Securities Depository. Likewise, infrastructure for the SSC will be improved in order to intensify the transparency and supervision capacity on the share market.
How will the solutions for securities application be chosen?
To begin with, we will seek solutions from foreign providers. Since securities is such a new field for Vietnam, local firms are not experienced enough to build solutions for securities.
How about the improvement of IT in securities companies?
There will be a comprehensive connection between securities companies and trading floors. Currently, securities firms are facing a challenge in investing into IT because it requires a strong financial capacity and systematic plan. Meanwhile, they will be desperately in need of IT in the near future. We are thinking of investment support on IT for these kinds of companies.
In principle, if the transaction market wants to ensure justice and transparency, there must be a comprehensive investment that means member companies must focus IT investment to cater for a variety of demands for securities trading. We also consider a single network used for the whole securities industry of which securities companies will be connected to the sector’s network.
What size of money is estimated to facilitate the project?
We forecast at about 1.5 trillion dong.