After the VNDirect incident, there was a hot topic of security at the SSI shareholders’ meeting

Answering shareholders’ questions about information technology system security after the VNDirect incident, Mr. Nguyen Duy Hung, Chairman of the Board of Directors of SSI Securities Company, said that SSI cares about security to the point that many customers, The staff feels a bit too much.

Investing in system safety is a top concern

“We require regular password changes, through many stages of monitoring. In a system like our house, the first thing is to have a supervisor to detect strangers entering.

The important thing is that when people come in, can we detect it right away and can they bring their things out? When strangers enter the house, we must eliminate them immediately.

If unfortunately the system has a problem, we must be able to start the backup system and how long will it take to recover,” Mr. Hung explained.

Mr. Nguyen Duc Thong, deputy general director of SSI, emphasized: “Many people only think about information security as building walls and not letting people in. But investors must connect to the system. They must ensure that bad people can enter the system so they can immediately detect and eliminate them. as soon as possible”.

“We are very concerned and have many scenarios to handle. We are always updating new attack methods to review the system and adapt. A very important step is to have backup data, backup save and restore data,” Mr. Thong added.

Is there a free margin interest policy?

At the congress, shareholders also raised the issue that many securities companies are competing with zero fee and margin interest policies, is SSI staying out of the game?

Mr. Nguyen Duy Hung said that SSI is the market leader, so it must adjust its products according to market conditions.

The company will have adaptive moves to ensure income and investor needs. Investors have very diverse needs, not everyone cares about fees but needs full, quality service packages.

SSI leaders also said that SSI has undergone test tests to connect to the KRX system. The staff are working day and night for the upcoming April 30 inspection.

Regarding the question of whether the new system will change the face of the stock market when the new system comes into operation, Mr. Hung said that KRX is a premise for developing new products for the market: Day trading, put options, purchase option. Therefore, in the long run, KRX will change the face of the stock market.

Regarding the market share story, SSI leaders said that they have come up with many solutions to restore market share, but the story does not happen in a day or two. The company considers market share to be an important goal to strive for, but not the only one, and must still pay attention to factors of sustainable and effective development.

In 2024, SSI plans consolidated revenue to reach VND 8,112 billion. Consolidated pre-tax profit reached VND 3,398 billion, equivalent to an increase of 19% compared to the previous year.

According to SSI, 2024 is expected to be a year of strong fluctuations, with a strong recovery possibly following immediately after a deep correction. The fair value for VN-Index at the end of 2024 is 1,300 points with market liquidity fluctuating around 18,000 – 20,000 billion VND/session.