Transaction Regulation on UPCOM

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

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Transaction Regulation on UPCOM

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

Trading Hours

Trading Methods

Orders (*)

9:00 - 11:30

Continuous Order Matching I


Orders can be cancelled/amended

11:30 - 13:00



13:00 - 15:00

Continuous Order Matching II


Orders can be cancelled/amended

9:00 - 11:30 & 13:00 - 15:00


Put-through order

(*) Note:

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

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: 100 shares

Put-through transactions: No regulation on trading units

Put-through transaction is not allowed on the first trading day of newly listed stocks or on the re-trading day after a 25-continuous-day temporarily stopped trading period. After a reference price is set from the result of continuous order matching, put-through transaction is possible.

Type of securities

Trading method

Price tick (VND)


Order matching



Not regulated

Price range regulated on a daily basis applied to stocks: ± 15% against reference price

Max price (Ceiling price) = Reference price x (100% + Price range)

Min price (Floor price) = Reference price x (100% - Price range)

Reference price is the weighted average of even lot trading prices calculated from continuous order matching method of the latest trading day

For newly listed stocks or stocks re-traded after an above 25-day temporarily stop trading period, price range on the first trading day is ±40% against reference price.

In cases of paying dividends/ bonuses by fund stocks for current shareholders in the days when rights have not been executed; or the dividends paid in cash is higher or equivalents to weighted average price of the nearest trading day before the day when rights are not executed, price range is ± 40% against reference price.

Type of securities

Cash/ securities blockades

Cash payment

Securities payment

Buy/sell order of Stocks

From T+0 to before 1:00pm T+2  Before 1:00pm T+2  Before 1:00pm T+2


T: Trading date according to order matching methods or put through

Cash blockade is applied to buying orders, securities blockade is applied to selling order

Cash payment:  Credit/debit to customers’ securities buying/selling account

Securities payment :   Credit/debit to customers’ securities selling/buying account.

Trading method: Continuous order matching and put-through.

Order volume: From 01 to 99 stocks.

Odd lot trading is not permitted on the first trading day for newly listed stocks and on the re-trading day for stocks temporarily postponed trading in 25 days. After a reference price is set from the result of continuous order matching, odd lot transaction is possible.

In order matching session:

Amendment (for price, volume) and cancellation of orders is available for unmatched orders. The priority of orders is defined as below:

  • Decrease volume: Order’s priority is unchanged
  • Increase volume or change the price: Order’s priority is recognized since the moment amended order is input into transaction system

In put-through session:

Put-through transactions which have been executed in UPCOM transaction system cannot be cancelled
Open account Equity market Derivatives market Price board