FPT IS has many times implemented Made by FIS securities system for many securities companies in Vietnam at the time of Vietnam’s securities boom. In March 2017, Daiwa Group set the problem, wishing to change its management system to promote the efficiency of the performance of securities companies in Myanmar.
After surveying the Myanmar market and through a number of exchange meetings between FPT IS and its partners, the FPT IS project team officially embarked on the development of UTS system – Information Management and Securities Services System Made by FIS.
UTS – Overcoming obstacles in managing securities transactions
UTS includes 4 systems: Online trading trading system (web-based trading system for securities investors); Front office system (trading system for Front division of securities companies); Back office system (the system that manages the operations of the Back office department in securities companies); FIX gateway (middleware system between securities company and stock exchange).
UTS not only satisfies the same features as the current system but also serves the full range of requirements from the process of placing securities trading orders to managing transactions. For Online trading system and Front office, investors and securities companies can place orders and manage transactions-related information, their loss/profit related information as well as market information received from the Stock Exchange.
After performing online trading and Front office transactions, the order will be pushed back to the Back office system to carry out the following operations. Users can manage transactions, make clearing payments, control transactions with the Stock Exchange.
In addition, Back office also provides an accounting system to manage transactions according to accounts, accounting books and daily newspaper system as well as statistical reports. UTS meets the needs of end users, making it easier for customer management teams to manage the system, while the previous system was used as a closing system which means the technical staff could not control it.
Sharing about difficulties in the process of implementing the project, Ms. Do Thi Ly – a member of the project team shared: “Due to working at the same time with customers who are both Japanese and Myanmar, the barrier in the language is inevitable. For both the Japanese and Myanmar, English is not native languages, so they sometimes don’t understand each other or misunderstand. Besides, Japanese people are used to outsourcing, but the project they sign with FPT IS is not outsource. Therefore, the two sides often disagree about implementation methods”.
The first “sweet fruits”
Over a year of implementation, on February 17, 2019, the project officially came into operation for MSEC Securities Company. All 4 systems with more than 1,000 functions have been put into operation. After more than 1 month Golive, the system has met the professional requirements of users, helping to reduce costs and bring higher profits for securities companies.
In the near future, the system will continue to get Golive for another securities company in Myanmar. Currently, the project team is packing products to get ready for the Golive of the remaining securities companies. In the future, UTS will be introduced to a number of other markets and is expected to be widely used globally.
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