Securities services

HOSE (Ho Chi Minh Stock Exchange)

HNX (Ha Noi Stock Exchange)

UPCOM (Ha Noi Stock Exchange)

1. Securities

Stock, Closed-end Fund, ETF certificate, Covered warrant  listed registration on Ho Chi Minh Stock Exchange

Stock, ETF certificates, Corporate Bonds (Bonds) listed registration on Ha Noi Stock Exchange.

Stock registered trading on Upcom – Ha Noi Stock Exchange.

2. Trading time

From Monday to Friday weekly, except holidays as stipulated by Labor Law

Even lot trading:

From 9:00 a.m to 9:15 a.m: The periodic order matching to determine the opening price. Kinds of orders are used: ATO, limited order (LO)

From 9:15 a.m to 11:30 a.m: Morning session- continuous order matching I: Kinds of orders are used: LO, MTL

Even lot trading:

From 9:00 a.m to 11:30 a.m: Continuous order matching; Kinds of orders are used: LO, MOK, MAK, MTL.

Even/odd lot trading:

From 9:00 a.m to 11:30 a.m: Continuous order matching; Kinds of orders are used: LO.

Odd lot trading:

From 9:00 a.m to 9:15 a.m: The periodic order matching. Kinds of orders are used: LO

From 9:15 a.m to 11:30 a.m: Morning session- continuous order matching I: Kinds of orders are used: LO

Odd lot trading:

From 9:00 a.m to 11:30 a.m: Continuous order matching; Kinds of orders are used: LO

From 9:00 a.m to 11:30 a.m: Put Through within trading hours

From 9:00 a.m to 11:30 a.m: Put Through Trading

From 11:30 a.m to 01:00 p.m: Break Time

Even lot trading:

From 01:00 p.m to 02:30 p.m: Afternoon session - continuous order matching II: Kinds of orders are used: LO, MTL.

From 02:30 p.m to 02:45 p.m: Periodic order matching to determine the closing price. Kinds of orders are used: ATC, LO.

Even lot trading:

From 01:00 p.m to 02:30 p.m: Continuous order matching. Kinds of orders are used: LO, MOK, MAK, MTL

From 02:30 p.m to 02:45 p.m: Periodic order matching to determine the closing price. Kinds of orders are used: ATC, LO.

From 02:45 p.m to 03:00 p.m: After-hour order matching. Kinds of orders are used:  PLO

From 01:00 p.m to 03:00 p.m: Continuous order matching; Kinds of orders are used: LO

Even lot trading:

From 01:00 p.m to 02:30 p.m: Afternoon session - continuous order matching II: Kinds of orders are used: LO

From 02:30 p.m to 02:45 p.m: Periodic order matching Kinds of orders are used: LO.

Even lot trading:

From 01:00 p.m to 02:30 p.m: Continuous order matching. Kinds of orders are used: LO

From 02:30 p.m to 02:45 p.m: Periodic order. Kinds of orders are used: LO.

From 01:00 p.m to 02:45 p.m: Put Through within trading hours

From 02:45 p.m to 03:00 p.m: Put Through after trading hours

From 01:00 p.m to 03:00 p.m: Put Through Trading

Closing market time: 03:00 p.m

3. Trading method

Order-matching trading:

a. The periodic order-matching on basis of matching securities buy & sell orders at the ending of session to determine the opening price at 9:15 a.m and determine the closing price at 02:45 p.m

The periodic order - matching method on basis of matching securities buy & sell orders at the ending of session  to determine the closing price at 02:45 p.m

Not applied

b. The matching continuous order method right after they are entered into the trading system.

Only applied for trading of stock/ fund certificate/CW

Only applied for trading of stock/ fund certificate/ bonds

Only applied for registered securities for trading at Upcom

c. Put through trading method means the trading method whereby trading members negotiate with each others on the trading conditions. After that, the deal (transaction) will be entered into the trading system to record trading result by securities companies related to buyers & sellers

- Either the seller or the buyer can initiate put through trading, the other party can confirm/reject the trading.

- Put through trading executed on the trading system are not allowed to be amended or canceled.

- Put-through trading are not allowed on the first trading day of newly listed stocks, ETF certificates, closed-end fund certificates, covered warrants, or for securities that have been suspended or halted from trading for 25 or more consecutive trading days, until a price is established through round-lot order matching results

- Put-through trading price for stocks, ETF certificates, closed-end fund certificates, and covered warrants must fall within the daily price fluctuation range.

Applied for trading of stock/ fund certificate/CW

Applied for trading of stock/ fund certificate/ bonds

Applied for registered securities for trading at Upcom

d. The order matching principles

(i) Price priority: buy orders with higher price shall be prioritized for execution first; sell orders with lower price shall be prioritized for execution first.

(ii) Time priority: If buy orders (or sell orders) have the same price, the first-entered order in the trading system shall be prioritized for execution first.

4. Kinds of order

ATO/ (ATC): The buy /sell securities orders at the opening price (at the closing price).

* It is a price-specific order.

* ATO/ATC orders entered into the trading system are not allowed to cancel at the ATO/ATC session.

ATC: The buy/sell orders at the closing price.

* It is a price-specific order.

*ATC orders entered into the trading system are not allowed to cancel at ATC session.

Not applied

MTL: Market to limit is an order that if not fully executed, the rest of the order is converted to a LO order.

Not applied

MOK: is a market order that is fully matched or canceled. If the MOK order is not fully executed, it will be canceled on the trading system immediately after entering.

MAK: Market orders are matched and canceled, MAK orders can be executed in whole or in part, the rest of orders will be canceled immediately after order matched.

PLO: It is a continuous order matching method with a fixed price being the last order matching price of the main boardIn case a security does not have a matching price on the main board, it is not allowed to enter orders on the after-hours matching boardMatching time is the first 10 minutes of receiving orders onlyThe next 5 minutes match orders continuously

The order type applied to bond transactions during both continuous and periodic order matching sessions is LO (Limit Order)

Not applied

LO (Limit order)

* The buy/sell securities order at a certain price or better.

* With specific price.

* Price and volume cannot be modified simultaneously

* LO is allowed to cancel or amend price/volume in the continuous matching session.

* LO is not allowed to cancel, amend at the ATO/ATC session, including LO is placed in the continuous matching session switch ATC session.

* LO is allowed to cancel or amend price/volume in the continuous matching session.

* LO is not allowed to be cancelled, changed in ATC session, including LO is placed in the continuous matching session switch ATC session.

* In after-hour trading session: PLO orders are not allowed to change or cancel.

* It is allowed to modify (price, volume) and cancel unexecuted orders or the unexecuted portion of orders during the continuous trading session.

* The priority order of the LO order does not change if amended to reduce volume

*The priority order of LO orders is amended when a amending order is entered into the trading system to increase volume or to amend the price.

* LO is allowed to cancel or change price and volume in the during trading time for unmatched orders or the rest of the original order has not been executed

* Validity of order: LO (Limit Order) is valid from the time it is entered into the trading system until the end of the closing periodic matching session or until it is canceled.

5. Securities subject to trading restrictions (PCA)

6. Reference Price

Reference price of a stock is the closing price of the previous trading day

Reference price is the average weighted price of round lot transaction prices executed by continuous order matching method of the most recent trading day.

7. Price fluctuation

a. Stock/ Fund Certificate : ± 7%

Ceiling price = Reference Price + Reference Price x 7%

Floor price = Reference Price - Reference Price x  7%

a. Stocks: ±10%

Ceiling price = Reference Price + Reference Price x 10%

Floor price = Reference Price - Reference Price x  10%

a. Stocks: ±15%

Ceiling price = Reference Price + Reference Price x 15%

Floor price = Reference Price - Reference Price x  15%

* In case ceiling price and floor price of Stock, Fund Certificate are adjusted base on fluctuation equal to reference price:

Adjusted ceiling price = Reference price + 01 tick value

Adjusted floor price = Reference price - 01 tick value

* In case the floor price of the stock, Fund Certificate is adjusted according to the fluctuation range less than or equal to zero (0)
 Adjusted floor price = Reference price.

* In case reference price = 100 VND, price fluctuation of Stock, Fund Certificate is determined:

Adjusted ceiling price = Reference price + 01 tick value

Adjusted floor price = Reference price

b. Bonds: Not applied

No regulation

Not applied

c. Newly listed stock/ Fund Certificate with over 25-session without trading, on the ex-dividend (or ex-rights) trading day

* Newly listed stock/ Fund Certificate must have a starting price by consulting organizations, identified and approved by the Stock Exchange as the reference price.

Price fluctuation: ± 20%

Price fluctuation applied to: ± 30%

Price fluctuation applied to: ± 40%

Order placing method of newly listed stock/fund certificates at the first trading day is similar with the listed stock/fund certificates. However, the put through trading of new stock/fund certificates are listed or re-traded after 25 days being suspended are not allowed to input in the trading system until closing price established. (Do not apply this rule to Bond trading).

8. Trading unit

a. Stocks/Fund Certificate

a. Stock/ETF

a. Stock

Applied to order matching method

1 trading unit = 100 Stocks/Fund Certificates

1 trading unit = 100 stocks/ETF

1 trading unit = 100 stocks

Round lot trading: Multiple of 100, From 100 to 500,000 stocks, do not exceed a maximum volume of 500,000 Stocks/ Fund Certificates

Round lot trading: Multiple of 100, Beginning from 100 stocks

Round lot trading: Multiple of 100, Beginning from 100 stocks

Odd lot Trading: From 1-99 Stocks/Fund Certificates (Odd lot trading is carried out via Continuous Order Matching and Put through)

Odd lot trading: From 1 to 99 Stocks/bonds (Odd lot trading is carried out via Continuous Order Matching and Put through)

Odd lot trading: From 1 to 99 Stocks (Odd lot trading is carried out via Continuous Order Matching and Put through)

Applied to Put through

Large lot trading: Mass of large lot trading ≥ 20,000 Stocks/Fund Certificate
Odd lot trading: From 1 to 99 Stocks

Even lot ≥ 5,000 stocks
Odd lot trading: From 1 to 99 Stocks

No regulation : But Minimum volume: 1 stock

b. Bonds

Put through

1 Bond

Not applied

There is no regulation on volume of put through

9. Quotation unit

a. Stock/Fund Certificate

a. Stock/ETF/Bonds

a. Stock

Stock/Closed-end Fund Certificate:

Market price < 10,000VND: 10VND

Market price from 10,000VND to 49,950VND: 50VND

Market price ≥ 50,000VND: 100VND

ETF: Tick value: 10VND

Stocks: Tick value: 100VND

ETF: Tick value: 1VND

Bonds: Tick value: 1VND

Stocks: Tick size: 100 VND

b. Put through Stocks, Bonds: 1 VND

10. Settlement

Securities types

Blocked money (Buy order), Stocks (Sell order)

Schedule of cash payments

(Buy order: recorded as decrease money on customer's account, Sell order: recorded as increase money on customer's account)

Schedule of stock payments

(Buy order: recorded as increase stocks on customer's account, Sell order: recorded as decrease stocks on customer's account)

Stock, Fund certificate

From T+0 to 11:30 T+2

After 11:30 T+2

After 11:30 T+2

Bonds

From T+0 to T+1

T+1

T+1

11. Trading method

Placing order at the trading floor

Placing order via Call Center (+84 28) 5413 5488

Placing order via E-stock: PHS-WEB TRADING, PHS-HOME TRADING, PHS-ELITE TRADING

12. General regulation

At a securities company, an investor is allowed to open one securities trading account and is allowed to open accounts at many other securities companies.

An investor can simultaneously place buy orders and sell orders for the same kind of securities within continuous trading session.

An investor cannot simultaneously place buy orders and sell orders for the same kind of securities within a periodic order matching period, except for orders not matched and still valid from the previous trading session, in cases customer have placed buy or sell orders  in the previous trading session but have not matched and still remain valid, when switching to the periodic matching order, customer may place sell or buy orders for the same securities.

Investors shall not be permitted to conduct deals which do not result in change of ownership of securities.

Investor must have enough securities to place buying order and place selling order as regulations.

In Break Time: Investors can place orders (these orders are pending status to transfer Stocks Exchange) for the afternoon session via E-stock from 11:30 to 13:00 or at Trading Offices and Call Center from 11:30 to 12:00. These pending orders will be stored in PHS' system and transferred to transaction system of Stocks Exchange when the market open the afternoon session. Investors can cancel these above orders when they are not transferred to Stock Exchange. Orders that placing but not matching in morning session, will effective in the afternoon session. Except the special control stocks follow the regulations of Stock Exchange.

Major shareholders and groups of related people owning 5% or more of the voting shares of a public company or a public securities investment company; investors, groups of related people owning 5% or more of fund certificates of a closed-end fund; group of related foreign investors owning 5% or more of the voting shares of an issuer or 5% or more of fund certificates of a closed-end fund: when becoming or no longer being Major shareholders of a public company, a public securities investment company, or when there is a change in the number of shares owned above the threshold of 1% of the voting shares, must disclose information and report on the transactions for public companies, securities investment fund management companies, the State Securities Commission and the Stock Exchange (for shares listed and registered for trading) according to the form specified in Appendix VII. /VIII promulgated together with Circular 96/2020/TT-BTC on Information Disclosure within 05 working days from the date of becoming or no longer being a major shareholder.

Internal people of public companies, public securities investment companies, public funds and their related persons when the expected transaction value of the day is VND 50 million or more or the expected exchange rate in each month is from VND 200 million or more calculated at par value (for stocks, convertible bonds, fund certificates) or at the most recent issue price (for covered warrants) or value transfer (for the right to buy shares, the right to buy convertible bonds, the right to buy fund certificates), even if the transfer is not through the trading system at the Stock Exchange (such as transactions for or are given, given or are given, inherited, transferred or received securities transfer and other cases), must disclose information, report before and after performing transactions to the State Securities Commission, Stock Exchange (for shares listed, registered for trading, listed public fund certificates), public companies, public companies securities investment fund management company at least 03 working days before the expected date of trading, according to the form specified in Appendix XIII or Appendix XIV issued together with Circular 96/2020/TT-BTC on Disclosure information. The time limit for performing a transaction must not exceed 30 days from the date of registration for trading. Internal people and related people must follow the time, volume and value announced by the Stock Exchange and only make the first transaction on the trading day immediately following the date of information announced from the Stock Exchange.