Service Manual

HSX (Ho Chi Minh Stock Exchange)

HNX (Hanoi Stock Exchange)

1. Market sessions: 9:00 AM – 3:00 PM from Monday to Friday with an intermission from 11:30 AM – 1:00 PM, excluding holidays (Labor Code).

- 9:00 – 9:15 AM: Periodic trading to determine opening price. Order types: ATO, LO.

- 9:15 – 11:30 AM, 1:00 – 2:30 PM: Continuous trading. Order types: LO, MP.

- 2:30 – 2:45 PM: Periodic trading to determine closing price. Order types: ATC, LO.

- 9:00 – 11:30 AM & 1:00 – 3:00 PM: Put-through trading.

- 9:00 – 11:30 AM, 1:00 – 2:30 PM: Continuous trading. Order types: LO, MTL, MOK, MAK.

- 2:30 – 2:45: Periodic trading to determine closing price. Order types: ATC, LO

- 2:45 – 3:00: After-hour trading. Order types: PLO

- 9:00 – 11:30 & 1:00 – 3:00: Put-through trading.

2. Trading methods

1.Periodic Trading: Stock exchanges execute periodic trades by matching buyers and sellers at the specified time. Principle of price determination:

• The price with the largest order volume.
• For different prices with the same largest order volume, the price matching or closest to the latest order matching will be selected.

2.Continuous Trading: Stock exchanges execute trades continuously throughout the trading day by matching buyers and sellers immediately after the orders are posted. Principle of price determination: the pending price in the order book.

3.Put-through Trading: Counterparties negotiate with each other on trading terms and have the results posted on trading system by securities firms. Buyer or seller can also ask securities firm to match them with a compatible counterparty.

3. Matching principles

1. Price priority:

Highest priority is given to orders at the best prices

• Best bids for buy orders.
• Best offers for sell orders.

2. Timing priority:

For orders at the same price, priority will be given to the one that comes first.

4. Editing and canceling orders

1. Only unmatched orders and unmatched part of orders are allowed for cancellation.

2. Cancellation is disallowed during periodic trading session to determine opening and closing prices (including orders in previous continuous trading session).

3. Put-through trading is not subject to cancellation.

1. Changes and cancellation are only allowed with orders that have yet to be executed or unexecuted part of the order.

2. Continuous trading sessions: An LO can be edited to change price and volume and canceled during the trading session. Order priority may change accordingly:

a) Order priority remains unchanged with only volume decreases;

b) Order priority will be updated once edited orders with increases in volume or changes in price are posted.

3. Periodic closing trading sessions: LOs and ATCs are not subject to editing and cancellation (including LOs from previous continuous trading sessions). (including LOs from previous continuous trading sessions).

4. After-hour trading sessions: PLO is not subject to changes or cancellation.

5. Price tick

1. Stocks and CEF certificates:

- < VND10,000: VND10.

- VND10,000 – VND49,950: VND50.

- VND50,000: VND100.

Put-through transaction: not specified.

1. Stocks:

• Matching orders: VND100.
• Put-through transaction: VND1.

2. ETF certificates: VND10

2. ETF certificates: VND1

3. Bonds: VND1

3. Bonds: VND1

4. Covered warrants: VND10.

6. Trading Unit

1. Stocks, closed-end fund (CEF) and ETF certificates, and covered warrants:

a. Round lot transactions:

- Trading unit10 stocks, closed-end fund and ETF certificates, and covered warrants.

- Each transaction is under the upper limit of 500,000 stocks, CEF and ETF certificates, and covered warrants.

b. Put-through transactions:

- Put-through transactions must have a minimum volume of 20,000 stocks, CEF and ETF certificates, and covered warrants.

c. Odd lot transactions:

01 – 09 stocks, CEF and ETF certificates, and covered warrants.

1. Stocks and ETF certificates:

a. Round lot transactions:

- 100 stocks and ETF certificates.

b. Put-through transactions:

- No trading unit is specified for stocks and ETF certificates.

- Put-through transactions must have a minimum volume of 5,000 stocks and ETF certificates.

c. Odd lot transactions:

- 01 – 99 stocks and ETF certificates.

1. Bonds:

No trading unit is specified for bond transactions.

1. Bonds:

a. Order matching transactions: 100 bonds.

b. Put-through transactions: 1 bond.

7. Daily price limit

1. Stocks, CEF/ETF certificates: ± 7%

Ceiling = Ref + 7%

Floor = Ref – 7%

(Reference price is the close price of the last trading session).

- If after three (03) consecutive trading sessions, the close price of newly listed stocks and CEF and ETF certificates cannot be determined, the issuing agent needs to reevaluate reference price.

1. Stocks and ETF certificates: ±10%

Ceiling = Ref + 10%

Floor = Ref – 10%

(Reference price is the close price of the last trading session).

If after three (03) consecutive trading sessions, the close price of newly listed stocks and ETF certificates cannot be determined to set reference for the next trading session, the listing organization, fund management company, and listing consultancy organization (if any) must reevaluate the reference price.

2.  Bonds: Not specified.

2.  Bonds: Not specified.

3. Covered warrants:

Ceiling = Ref-warrant + (Ceiling-stock – Ref-underlying share) x 1/Conversion rate

Floor = Ref-warrant – (Ref-stock – Floor-underlying share) x 1/ Conversion rate.

If Floor-warrant is equal or less than 0, Floor-warrant will be 10.

(Reference price of covered warrants = Issue price of warrants x (Reference price of underlying shares on the first trading day of warrants/Reference price of underlying shares on the day of warrant issuance) x (Conversion rate on the date of warrants issuance/Conversion rate on the first trading day)).

8. Settlement

1. Stocks, CEF/ETF certificates, covered warrants: T+2.

1. Stocks and ETF certificates: T+2.

2. Bonds: T+1.

2. Bonds: T+1

9. Foreign investors

1. Order matching transactions:

a. Foreign investors’ share purchase volume shall be deducted from the purchase limit once the buy order is executed. The number of shares sold by foreign investors shall be added to the purchase limit immediately after the transaction settlement.

b. Foreign investors’ buy order or part of a buy order will not be executed if foreign investors have reached the purchase limit and further purchase order entered into the trading system will not be executed.

2. Put-through transactions:

a. Foreign investors’ purchase room will decrease once a put-through transaction is executed if a foreign investor purchases stocks from a domestic investor.

b. Foreign investors’ purchase room will increase immediately after the transaction settlement if a foreign investor sells stocks to a domestic investor.

c. Foreign investors’ purchase room will remain unchanged if a put-through transaction is made between foreign investors. The system allows put-through transactions between two foreign investors even if volume of the put-through transactions exceed foreign investors’ remaining purchase room.