1. Types of traded securities

Securities of public companies not yet listed.

3. Trading method: 

Continuous order matching and put through (applicable to both board-lot and odd-lot trading)

4. Order matching principles

Price precedence: An order with the best price rate shall take precedence (Buying order of higher price/selling order of lower price shall take precedence.)

– Time precedence:

• Where multiple selling or buying orders are of the same price, the order that is first entered into the trading system shall take precedence.
• In the continuous order matching session, the exercise price shall be the price of order entered into the trading system earlier if sell order and buy order have the same price.

5. Quote unit and tick size

• Board lot: 100 shares/bonds
• Odd lot: 1-99 shares (both order matching and put through)
• Negotiation: no limit of quote unit.

• Predetermined reference price of a stock on the first trading day is proposed by issuing organization or at the advice of a consulting organization (if any) and approved by HNX. The stock on the first trade date or the resumed trade date of an existing stock after being suspended for trading in 25 trading days or more, buying/selling orders performed in negotiation trading method are not allowed to be performed until the reference price is determined in the continuous order-matching session.

6. Tick size:

– The tick size of price is VND100 for share

– No tick size is applied to bonds

7. Collar

• – Collar for a stock in a trading day is 15% to the either side of the reference price.

  – Collar on the first trading or on the re-trading day (after 25 days or more untraded) is 40% to the either side of the reference price.

  – Collar is not applicable to bond transactions.

8. Reference price

– Predetermined reference price of a stock on the first trading day is proposed by issuing organization or at the advice of a consulting organization (if any) and approved by HNX.

– The stock on the first trade date or the resumed trade date of an existing stock after being suspended for trading in 25 trading days or more, buying/selling orders performed in negotiation trading method are not allowed to be performed until the reference price is determined in the continuous order-matching session.

9. Modification or cancellation

– A modification or cancellation can be made to an order untraded or partially untraded.

– The order can only be modified/canceled during the trading time. The precedence of such order is determined from the time the modified order is entered into the trading system.

• The order of precedence is unchanged if the quantity is reduced.
• The order of precedence is applied to the order modified if the quantity is increased and/or the price is changed.

– Modification procedures are set by the HNX.