Transaction Regulation on HSX

1. TRADING HOURS Trading time is from Monday to Friday every week except for public holidays regulated by Vietnam’s Labor Code Stocks, Closed-end Fund

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Transaction Regulation on HSX

Trading time is from Monday to Friday every week except for public holidays regulated by Vietnam’s Labor Code

Stocks, Closed-end Fund Certificates, ETFs, Covered Warrant:

Trading Hours

Trading Methods

Orders (*)

9h00 - 9h15

Periodic Order Matching

ATO, LO

Orders cannot be cancelled

9h15 - 11h30

Continuous Order Matching I

LO, MP

Orders can be cancelled

11h30 - 13h00

Intermission

 

13h00 - 14h30

Continuous Order Matching II

LO, MP

Orders can be cancelled

14h30 - 14h45

Closing Periodic Order Matching

ATC, LO

Orders cannot be cancelled

9h00 - 11h30 & 13h00 - 15h00

Put-through

Put-through order

(*) Note:

ATO/ ATC – At-the-open/ At-the-close: The order at opening price or closing price, which is not given a specific price, is called ATO/ATC. ATO/ATC Orders have higher priority to match than Limit Orders. At the end of the effective session, unmatched ATO/ATC Orders or unmatched volume of partially matched ATO/ATC Orders will automatically be cancelled.

LO – Limit Order: LO is a buying or selling order at a specific price or at a better price, is given a specific price, and validates until the end of trading day or until the order is cancelled.

MP – Market Price Order: Orders to match at the best counter-bids/asks available in the market at the time of input and shall match forward to the next best prices available. Market Price Order is only available and effective during Continuous Matching period. Should there be no counter LO at the time of input of Market Price Orders, the Market Price Orders will automatically be cancelled.

Bonds: Put-through traded from 9h00 - 11h30 and from 13h00 - 15h00.

Periodical Order Matching: The method is made on the basis of comparing buy orders and sell orders of stocks at a specified time. Principles to determine the price as below:

  • The matching price is the price at which the greatest matching volume can be generated based on the bids and asks available at the time ending the period.
  •  If there are many prices satisfying the above condition, the price which has the same value or the nearest value to the executed price of the latest match will be chosen to be the matching price.

Continuous Order Matching: The method is made on the basis of comparing buy orders and sell orders immediately when they are input into the trading system. The principle to determine the price is based on the price of counter orders waiting on the order book.

Put - through: Put-through is a trading method by which buyers and sellers set out mutual agreed trading conditions by themselves. After that, buyers and sellers inform the securities incorporate to record that trading result into transaction system. Buyers and sellers can find counterparty for counter put-through blocks through securities incorporates.

1. Price priority
  • Buy orders at higher price takes precedence
  • Sell orders at lower price takes precedence
2. Time priority

In the case that buy orders or sell orders are at the same price, the orders which enter the transaction system first will take priority in execution

Trading unit of even lot transactions: A common multiple of 10; From 10 to 500,000 shares, Closed-end Fund Certificates, ETFs.

Trading volumes of put-through transactions: From 20,000 shares, closed-end fund certificates, ETFs and above. There is no regulation on trading unit.

For Stocks, Closed-end Fund Certificates

Trading methods

Price level (VND)

Price tick (VND)

Order matching

< 10,000

10

10,000 – 49,950

50

≥ 50,000

100

Put-through

Unregulated

For ETFs: Price tick is 10 VND for all price levels

For Bonds: No price tick is applied

Open account Equity market Derivatives market Price board
SSI