Business

Finance ministry orders to reduce trading lot on HoSE back to 10 shares

The Ministry of Finance (MoF) has sent a document to the State Securities Commission (SSC) on reviewing the measures to prevent overloading on the Ho Chi Minh Stock Exchange.
Finance ministry orders to reduce trading lot on HoSE back to 10 shares ảnh 1Outside of the Ho Chi Minh Stock Exchange (HoSE) in District 1, HCM City (Photo: VNA)
Hanoi (VNS/VNA) - The Ministry of Finance (MoF) has sent a document tothe State Securities Commission (SSC) on reviewing the measures to preventoverloading on the Ho Chi Minh Stock Exchange.

Since July 5, the new securities trading system has officially operated on theHo Chi Minh Stock Exchange (HoSE) and received positive feedback from thebusiness community and investors.

The order congestion problem has been basically solved, contributing tostabilising market sentiment, improving prestige and demonstrating the drasticdirection and management of the ministry.

In order to further strengthen the role of securities market management andadministration, the ministry requires the SSC to:

(1) Direct securities companies, especially those with large brokerage markets,to report their information technology system infrastructure, ensuring a stableand smooth connection with HoSE's new trading system, as well as urgentlyreview and solve existing issues to ensure the full operation of transactionfeatures according to regulations.

(2) Review to ensure the operation of the new trading system as soon as anofficial announcement allowing HoSE to receive new listing registrationdocuments to be issued.

Securities firms also have to support businesses wishing to move their listingsfrom the Hanoi Stock Exchange (HNX) to HoSE, especially those affected bycongestion on HoSE. And urgently report the application of the 10 minimumtrading lot to ensure the interests of investors.

(3) Strengthen communication, promptly announce policies to stabilise marketsentiment and improve the prestige in the direction and management of the MoF.

Previously, the massive influx of investors into the stock market led tooverloading on HoSE since the end of 2020. During that period, HoSE had to applya number of technical measures such as increasing the trading lot from 10 to100 shares and fund certificates, temporarily changing the listing of somestocks from HoSE to HNX or limiting cancellation or correction of orders tolimit order congestion, but the situation did not improve much.

By early July, the new trading system supported by FPT was put into operation,thereby solving the long-standing congestion on HoSE./.
VNA
#Ministry of Finance #State Securities Commission #overloading #Ho Chi Minh Stock Exchange #Vietnam #Vietnamplus #Vietnam News Agency
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