HNX is ready to operate a separate corporate bond trading floor

In order to organize a private corporate bond trading market to meet the requirements of Decree 65, the Ministry of Finance has assigned the Hanoi Stock Exchange (HNX) to build a private corporate bond trading system.

Identifying this as an important task, the individual corporate bond trading system must be built and put into operation safely, effectively, and on schedule according to the direction of the management agency, meeting the actual requirements of the market, HNX has coordinated with relevant units to implement the system construction project in the most urgent manner.

Up to now, HNX has completed the construction of phase 1 of the system. From June 2023, the system has completed testing with members, the Vietnam Securities Depository Center and is ready for all technical conditions for official operation.

“Putting the individual corporate bond trading system into operation will contribute to increasing transparency, limiting risks for investors in individual corporate bond trading, contributing to promoting liquidity for the corporate bond market, and at the same time creating conditions for the primary market for individual corporate bonds to develop more sustainably,” HNX emphasized.

To ensure that the system functions are operated correctly, HNX has organized many testing sessions. The results of testing with members over 2 sessions showed that the system has operated stably, meeting the requirements of members in entering orders and looking up information, meeting the requirements of HNX in managing and operating the system, and transaction data has been transferred completely and accurately to VSD for payment.

HNX has also completed the construction of documents and records and organized two training sessions to issue certificates for system users.

Finance - Banking - HNX is ready to operate a separate corporate bond trading floor — The TPDN information page is being upgraded to publish information on individual TPDN transactions.

Recently, the corporate bond information page was built by HNX to publish information on private corporate bond issuance, thereby meeting the information needs of all investors, as well as serving the statistical work and reporting to the Ministry of Finance.

Currently, the corporate bond information page is being upgraded by HNX not only to serve the purpose of disclosing information on issuance activities but also to disclose information on individual corporate bond transactions in accordance with the regulations under Decree No. 65 and Circular No. 30.

Specifically, the individual corporate bond trading system allows trading members to connect and send orders to the HNX trading system.

The system currently supports two types of orders: electronic agreement and regular agreement (transaction report). For electronic orders, members can choose to send the offer to certain members or send the order to all members of the market and only members who receive the offer can confirm the order.

The system allows the exchange of transaction information and depository information with the VSD system. Payment for individual corporate bond transactions is made by the instant payment method for each transaction, similar to the payment method currently applied in the derivatives market, or the order will be paid at the end of the trading day according to the investor's choice.

Regarding the technology platform, HNX said that core applications run on the Linux platform to ensure optimization of speed and hardware resource usage; user-side applications use web-based technology to facilitate quick deployment from members .

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