Compared to current securities trading regulations, securities trading regulations when applying the new information technology system to the Vietnamese securities market are expected to have certain changes that investors need to note as follows:
About ATO/ATC orders in periodic order matching session
When applying the new information technology system to the Vietnamese stock market, ATO/ATC orders will not be prioritized over previously entered limit orders when matching orders (currently, ATO/ATC orders will be prioritized over limit orders).
ATO/ATC orders will be displayed at a specified price as limit orders (currently ATO/ATC orders are displayed at prices marked “ATO” “ATC”);
The new display rules are as follows:
- In case there is only remaining buy or sell order of ATO or ATC order: The displayed price of ATO/ATC buy or sell order is the expected matching price. In case there is no expected matching price, the displayed price is the most recent matching price or reference price (in case there is no most recent matching price).
- In case there is still a buy or sell surplus of the limit order:
+ The displayed price of the ATO/ATC buy order is the highest remaining buy price plus 01 quote unit (if this determined price is higher than the ceiling price, it will be displayed as the ceiling price).
+ The displayed price of the ATO/ATC sell order is the lowest remaining sell price minus 01 quotation unit (if this determined price is lower than the floor price, it is displayed as the floor price).
About editing and canceling matching transaction orders
When applying the new information technology system to the Vietnamese stock market, investors are allowed to correct the price or volume of unexecuted limit orders (LO orders) or the remaining part of unexecuted orders during the continuous order matching period according to the principle: Orders to correct volume reduction will not change the order's priority; orders to correct volume increase or price will change the order's priority.
About the deal
When applying the new information technology system to the Vietnamese stock market, investors are not allowed to correct or cancel transactions that have been executed on the trading system (currently, it is allowed to correct incorrectly entered transactions during trading hours by canceling the incorrect transaction and entering the correct transaction).
On securities transactions of foreign investors
- For stock and closed-end fund certificate matching transactions:
When applying the new information technology system to the Vietnamese stock market, the room (the remaining volume allowed to be purchased by foreign investors) is reduced when foreign investors' purchase orders are entered into the trading system (according to current regulations, the room is reduced immediately after foreign investors' purchase orders are executed).
In case a foreign investor's purchase order is cancelled by the investor or the trading system, the room increases by the cancelled volume; in case a foreign investor's purchase order is revised to decrease the volume, the room increases by the decreased volume of the order.
- For stock and closed-end fund certificate transactions:
When applying the new information technology system to the Vietnamese stock market, the room decreases when a foreign investor's bid is entered into the trading system in the case of a negotiated transaction between a foreign investor buying and a domestic investor selling (according to current regulations, the room decreases immediately after the negotiated transaction between a foreign investor buying and a domestic investor selling is executed).
In case a foreign investor cancels a bid to a domestic investor, the room will be increased immediately after the cancellation order is entered into the trading system.
About odd lot trading
When applying the new information technology system to the Vietnamese stock market, odd-lot transactions will be carried out according to the periodic order matching method, continuous order matching method and negotiated transaction method (currently odd-lot transactions are carried out according to the continuous order matching method and negotiated transaction method).
On the trading of securities subject to trading restrictions
When applying the new information technology system to the Vietnamese stock market, securities subject to restricted trading will be traded all day and will apply the periodic order matching trading method, including: periodic order matching session to determine the opening price, then periodic order matching sessions each lasting 15 minutes and periodic order matching session to determine the closing price (according to current regulations, securities subject to restricted trading can only be traded in the afternoon trading session by order matching and negotiation method).
About displaying information on the 3 best bid and offer prices in the periodic order matching session
When applying the new information technology system to the Vietnamese stock market, during the periodic order matching session, the information of the 3 best bid and offer prices displayed are the best bid and offer prices expected to remain after the order matching (currently displaying information of the 3 best bid and offer prices of all orders on the trading order book).
Investors can find out more detailed and complete information in the Regulations on listing and trading of listed securities issued by the Vietnam Stock Exchange to ensure compliance with regulations on securities trading on the Ho Chi Minh City Stock Exchange.
Source: https://nhandan.vn/bay-thay-doi-quan-trong-ve-quy-dinh-giao-dich-khi-ap-dung-he-thong-cong-nghe-nghe-thong-moi-cho-thi-truong-chung-khoan-post865015.html
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