Circular No. 101/2021/TT-BTC stipulates service fees in the securities sector applicable at the Securities Trading Exchange and the Vietnam Securities Depository and Central Counterparty Corporation.

MINISTRY OF FINANCE -------	SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ---------------
Number: 101/2021/TT-BTC	Hanoi, November 17, 2021

CIRCULAR

REGULATIONS ON SERVICE FEES IN THE SECURITIES FIELD APPLICABLE AT THE HO CHI MINH CITY SECURITIES EXCHANGE AND THE NATIONAL SECURITIES DEPOSITORY CORPORATION OF VIETNAM

Pursuant to the Securities Law dated November 26, 2019;

Pursuant to the Law on Fees and Charges dated November 25, 2015;

Pursuant to the Law on Prices dated June 20, 2012;

Pursuant to the Law on State Debt Management dated November 23, 2017;

Pursuant to the Law on Environmental Protection dated November 17, 2020;

Pursuant to the Law on Management and Use of State Capital for Investment and Business at Enterprises dated November 26, 2014;

Pursuant to Decree No. 177/2013/ND-CP dated November 14, 2013 of the Government detailing and guiding the implementation of certain provisions of the Law on Prices and Decree No. 149/2016/ND-CP dated November 11, 2016 of the Government amending and supplementing certain provisions of Decree No. 177/2013/ND-CP dated November 14, 2013;

Pursuant to Decree No. 155/2020/ND-CP dated December 31, 2020 of the Government detailing the implementation of certain provisions of the Securities Law;

Pursuant to Decree No. 158/2020/ND-CP dated December 31, 2020 of the Government on derivative securities and the derivative securities market;

Pursuant to Decree No. 91/2018/ND-CP dated June 26, 2018 of the Government on issuance and management of government guarantees;

Pursuant to Decree No. 93/2018/ND-CP dated June 30, 2018 of the Government on local government debt management;

Pursuant to Decree No. 95/2018/NĐ-CP dated June 30, 2018 of the Government on the issuance, registration, registration custody, listing, and trading of government debt instruments on the securities market;

Pursuant to Decree No. 91/2015/ND-CP dated October 13, 2015 of the Government on state capital investment in enterprises and management and use of capital and assets at enterprises; Decree No. 126/2017/ND-CP dated November 16, 2017 of the Government on converting state-owned enterprises and limited liability companies wholly owned by state-owned enterprises into joint-stock companies; Decree No. 32/2018/ND-CP dated March 8, 2018 of the Government amending and supplementing certain provisions of Decree No. 91/2015/ND-CP dated October 13, 2015; Decree No. 140/2020/ND-CP dated November 30, 2020 of the Government amending and supplementing certain provisions of Decree No. 126/2017/ND-CP dated November 16, 2017, Decree No. 91/2015/ND-CP dated October 13, 2015, and Decree No. 32/2018/ND-CP dated March 8, 2018;

Pursuant to Decree No. 87/2017/NĐ-CP dated July 26, 2017, issued by the Government, stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;

Upon the proposal of the Director of the Price Management Department and the Chairman of the State Securities Commission;

The Minister of Finance issues this Circular regulating service fees in the securities field applicable at the Ho Chi Minh City Securities Exchange and the National Securities Depository Corporation of Vietnam.

Article 1. Scope of Regulation

This Circular regulates service fees in the securities field applicable at the Ho Chi Minh City Securities Exchange, the Hanoi Securities Exchange, the Ho Chi Minh City Securities Exchange (hereinafter referred to as "SGDCK") and the National Securities Depository Corporation of Vietnam (hereinafter referred to as "VSDC") in accordance with the law.

Article 2. Applicability

1. Organizations providing services in the securities field as prescribed in this Circular include: SGDCK, VSDC established and operating in Vietnam.

2. Organizations and individuals using securities services provided by the organizations providing securities services mentioned in Clause 1 of this Article include: members of SGDCK; members of VSDC; organizations registering for listing; listed organizations; securities investment fund management companies; issuers; organizations opening accounts directly at VSDC; individuals and organizations transferring ownership of securities outside the trading system of SGDCK; State Treasury; organizations issuing government-guaranteed bonds in accordance with the Law on State Debt Management; People's Committees of provinces and cities issuing local government bonds.

3. Other organizations and individuals related thereto.

Article 3. Service fees in the securities sector applicable at the Stock Exchange and the Securities Depository Center

1. Service fees in the securities sector applicable at the Stock Exchange and the Securities Depository Center are detailed in the Service Fee Schedule and its attached Appendices in this Circular.

2. Service fees in the securities sector stipulated in this Circular are not subject to value-added tax as prescribed by the Law on Value Added Tax and any subsequent amendments or supplements thereto (if any).

3. For other services not specified in the Schedule, the Stock Exchange and the Securities Depository Center shall independently set their service fees and bear responsibility for the service fee levels they provide, which must be consistent with the actual provision of services, price regulations, securities laws, and related laws.

4. The Stock Exchange and the Securities Depository Center must publicly list and disclose service fees in accordance with the laws on prices, securities laws, and relevant guiding documents.

5. Service fees for market-making members' trading transactions may be reduced up to a maximum of 80% of the service fee level specified in Point 4, Section II, Part A of the Schedule, and up to a maximum of 70% of the service fee level specified in Point 3, Section II, Part B of the Schedule after market-making members have fulfilled their market-making obligations as prescribed by law and specific conditions set forth by competent authorities.

6. Issuers and green bond investors, as defined in the Environmental Protection Law and related guiding documents, may have their service fees for listing registration, listed management, trading, securities registration, partial cancellation of securities registration, and securities custody reduced by 50%, as specified in Points 2 and 3, Section II, Part A of the Schedule, and Points 12 and 13, Section III, Part A of the Schedule issued together with this Circular.

Article 4. Provisions on payment of service usage fees in the securities sector

1. In cases where an organization re-registers its membership status with the Stock Exchange, it shall pay service usage fees for derivative securities member registration, member management, derivative securities member management, periodic connection maintenance, and terminal equipment usage as if it were a new member registration, except for the case of member registration under point b, Clause 10, Article 310 of Decree 155/2020/NĐ-CP dated December 31, 2020, detailing certain provisions of the Securities Law.

In cases where an organization re-registers its depositary member or clearing member status with the Securities Depository Center, it shall pay service usage fees for depositary member management, clearing member management, derivative securities clearing member management, clearing member registration, and derivative securities clearing member registration as if it were a new member registration.

2. In cases where a Stock Exchange member is suspended from trading or trading activities, or has its online connection terminated and carries over into the following year without being revoked of its membership status, it must still pay service usage fees for member management, derivative securities member management, periodic connection maintenance, and terminal equipment usage in the following year.

In cases where a Securities Depository Center member is suspended from securities depositary, clearing, and transaction settlement services, or has its depositary, clearing, and transaction settlement activities suspended and carries over into the following year without being revoked of its membership status, it must still pay service usage fees for depositary member management, clearing member management, and derivative securities clearing member management in the following year.

3. In cases where a Stock Exchange member is suspended from trading or trading activities, or has its online connection terminated for revocation of its membership status within that year, it does not need to pay service usage fees for member management, derivative securities member management, periodic connection maintenance, and terminal equipment usage in subsequent years.

In cases where a Securities Depository Center member is suspended from securities depositary, clearing, and transaction settlement services, or has its depositary, clearing, and transaction settlement activities suspended for revocation of its membership status within that year, it does not need to pay service usage fees for depositary member management, clearing member management, and derivative securities clearing member management in subsequent years.

4. Service fees in the securities sector are collected in Vietnamese Dong. For foreign currency government bonds, the service fees are calculated based on the average central exchange rates published by the State Bank of Vietnam in the month when the service related to foreign currency government bonds arises.

Article 5. Provisions on the time for collecting, paying, and refunding service usage fees in the securities sector

1. For annual periodic fees specified in the Service Fee Schedule attached to this Circular, organizations and individuals using services shall be responsible for paying to the Stock Exchange and the Securities Depository Corporation before January 31 each year.

2. For monthly periodic fees specified in the Service Fee Schedule attached to this Circular, organizations and individuals using services shall be responsible for paying to the Stock Exchange and the Securities Depository Corporation no later than the 15th day of the following month.

3. For organizations registering as new members of the Stock Exchange and the Securities Depository Corporation and newly registering for listing, they shall implement payment for service usage fees for registering as derivative securities member services, member management services, derivative securities member management services, initial online connection services, regular connection maintenance services, terminal device usage services, clearing member registration services, derivative securities clearing member registration services, depository member management services, clearing member management services, derivative securities clearing member management services, listing registration services, and listed management services within five (5) working days from the date the Stock Exchange issues the Decision approving member status, Decision approving online trading connection, Decision approving listing, Decision approving remote trading connection, and the Securities Depository Corporation issues the Member Depositary Certificate, clearing member certificate, or derivative securities clearing member certificate.

4. The Stock Exchange and the Securities Depository Corporation shall refund service usage fees for member management services, derivative securities member management services, regular connection maintenance services, terminal device usage services, depository member management services, clearing member management services, and derivative securities clearing member management services to Stock Exchange members and Securities Depository Corporation members within five (5) working days from the date the Stock Exchange issues the Decision revoking member status or the Securities Depository Corporation issues the Decision revoking the Member Depositary Certificate or revoking member status.

5. The Stock Exchange shall collect additional or refund service usage fees for listed management services from listed organizations and securities investment fund management companies within seven (7) working days from the date the Stock Exchange issues the Decision approving changes to listing or the date the Stock Exchange announces changes in the number of listed securities for listing changes or the effective date of delisting for delisting cases.

6. In the case of transferring listed stock trading from the Hanoi Stock Exchange to the Ho Chi Minh City Stock Exchange before the mandatory transfer period or according to the provisions of Circular No. 57/2021/TT-BTC dated July 12, 2021, of the Minister of Finance on the roadmap for restructuring the stock trading market, bond trading market, derivatives securities trading market, and other types of securities trading markets (hereinafter referred to as Circular No. 57/2021/TT-BTC), the Hanoi Stock Exchange shall be responsible for determining the amount of listed management service fees provided and transferring the remaining portion of the year to the Ho Chi Minh City Stock Exchange based on the date when the listed stocks stop trading at the Hanoi Stock Exchange to transfer trading to the Ho Chi Minh City Stock Exchange; the Ho Chi Minh City Stock Exchange shall not charge the initial listing registration service fee for listed organizations with transferred listed stocks.

In the case of transferring listed bond trading from the Ho Chi Minh City Stock Exchange to the Hanoi Stock Exchange according to the roadmap stipulated in Circular No. 57/2021/TT-BTC, the Hanoi Stock Exchange shall not charge the initial listing registration service fee for listed organizations with transferred listed bonds.

Article 6. Management and use of revenue from service provision in the securities sector

1. After fulfilling state budget obligations as prescribed by law, the remaining revenue from service provision shall be managed and used by the Stock Exchange and the Central Depository Center in accordance with the provisions of the law.

2. Revenue from the Central Depository Center's securities ownership transfer service, as stipulated in Point 17 (excluding Points 17.1c and 17.4) of Section III Part A of the Service Fee Schedule attached to this Circular, shall be regulated by the Central Depository Center to the Stock Exchange according to the agreement in the Service Provision Contract to ensure that the maximum amount transferred does not exceed 50% of the revenue received for listed or registered securities ownership transfers on the Stock Exchange.

3. Organizations and individuals who fail to pay service fees on time or in full shall have their payment deadlines extended or be dealt with in accordance with the law by the Stock Exchange and the Central Depository Center based on each specific case.

4. When collecting service fees in the securities sector, the Stock Exchange and the Central Depository Center shall use invoices in accordance with the law.

Article 7. Implementation Provisions

1. This Circular takes effect from January 1, 2022 and replaces the following Circulars: Circular No. 127/2018/TT-BTC dated December 27, 2018 of the Minister of Finance prescribing service prices applicable at the Stock Exchange and the Vietnam Securities Depository Center, Circular No. 14/2020/TT-BTC dated March 18, 2020 of the Minister of Finance amending and supplementing certain articles of Circular No. 127/2018/TT-BTC dated December 27, 2018 of the Minister of Finance prescribing service prices applicable at the Stock Exchange and the Vietnam Securities Depository Center to support organizations and individuals affected by the COVID-19 pandemic, Circular No. 70/2020/TT-BTC dated July 17, 2020 of the Minister of Finance extending the implementation period of Circular No. 14/2020/TT-BTC dated March 18, 2020 amending and supplementing certain articles of Circular No. 127/2018/TT-BTC dated December 27, 2018 of the Minister of Finance prescribing service prices applicable at the Stock Exchange and the Vietnam Securities Depository Center to support organizations and individuals affected by the COVID-19 pandemic, Circular No. 30/2021/TT-BTC dated May 14, 2021 of the Minister of Finance extending the implementation period of Circular No. 14/2020/TT-BTC dated March 18, 2020 of the Minister of Finance amending and supplementing certain articles of Circular No. 127/2018/TT-BTC dated December 27, 2018 of the Minister of Finance prescribing service prices applicable at the Stock Exchange and the Vietnam Securities Depository Center to support organizations and individuals affected by the COVID-19 pandemic.

2. Prior to the Central Depository Center officially operating in accordance with the Securities Law No. 54/2019/QH14, the regulations on service prices applicable to the Central Depository Center in this Circular shall be implemented by the Vietnam Securities Depository Center.

The Central Depository Center continues to apply the service fee for position management as stipulated in Clause 6 of Section II Part B of the Service Fee Schedule prescribed in Article 1 of Circular No. 14/2020/TT-BTC dated March 18, 2020 of the Minister of Finance amending and supplementing certain articles of Circular No. 127/2018/TT-BTC dated December 27, 2018 of the Minister of Finance prescribing service prices applicable at the Stock Exchange and the Vietnam Securities Depository Center to support organizations and individuals affected by the COVID-19 pandemic until the Central Depository Center officially implements securities settlement and transaction clearing activities using new information technology systems for the securities market. After this period, it will be implemented according to the service fee for derivative securities settlement as stipulated in Clause 6 of Section II Part B of the Service Fee Schedule attached to this Circular.

3. In cases where organizations and individuals have already paid amounts before this Circular takes effect and there is a difference with the amount payable under this Circular, the Stock Exchange and the Central Depository Center will neither refund nor collect additional amounts due to such differences.

4. During the implementation process, if there are any difficulties, organizations and individuals are requested to promptly reflect them to the Ministry of Finance for research and supplementary guidance.

Place of Receipt: - Prime Minister, Deputy Prime Ministers; - Government Office; - Central Party Office; - General Secretary's Office; - National Assembly's Office; - President's Office; - Supreme People's Procuracy; - Supreme People's Court; - State Audit Agency; - Ministries, agencies equivalent to ministries, and government agencies; - Provincial People's Councils, Provincial People's Committees; - Central Agencies of Mass Organizations; - Official Gazette; - Provincial Departments of Finance, Taxation Bureaus, State Treasury Offices under the central government; - Legal Documents Inspection Bureau (Ministry of Justice); - Units under the Ministry of Finance; - Vietnam Chamber of Commerce and Industry; - Government website; - Ministry of Finance website; - To be filed: VT, QLG (400).

DEPUTY MINISTER DEPUTY MINISTER Ta Anh Tuan

SERVICE FEES SCHEDULE APPLICABLE AT THE STOCK EXCHANGE AND THE VIETNAM SECURITIES DEPOSITORY AND CLEARING CORPORATION

(Annexed to Circular No. 101/2021/TT-BTC dated November 17, 2021 of the Minister of Finance)

A. SERVICE FEES APPLICABLE IN THE PRIMARY SECURITIES MARKET

Serial number		NAME OF SERVICE FEE	PRICE LEVEL	PAYERS	PAYMENT TIME	SCOPE OF APPLICATION
I		SERVICE FEES APPLICABLE AT THE VIETNAM STOCK EXCHANGE
1		Service fee for member management	20 million VND/year	Members of the Stock Exchange	Annually	Applies a uniform fee rate for all members without charging separately based on individual market categories (stocks, bonds, fund certificates, warrant certificates)
II		SERVICE FEES APPLICABLE AT THE HO CHI MINH CITY STOCK EXCHANGE AND THE HANOI STOCK EXCHANGE
2		Listing registration service fee
2.1		Initial listing registration service fee
a		For stocks, corporate bonds, investment fund certificates, and debt instruments as prescribed by the Public Debt Management Law	10 million VND	Issuing organization (organization applying for initial listing)	Within five working days from the date the Stock Exchange issues the approval decision for listing (one-time payment)	Not applicable to government debt instruments, government-guaranteed bonds, local government bonds, and organizations listed on the UPCOM
The Standing Office of the Council for International Cooperation on Non-Governmental Organizations (Vietnam Friendship Association) is the agency responsible for receiving registration dossiers, leading, and coordinating with member agencies of the Council to examine dossiers and return results of reviews of registration dossiers of foreign non-governmental organizations in Vietnam.		For warrant certificates	300 million VND
2.2		Listing registration change service fee
a		For stocks, corporate bonds, investment fund certificates, and debt instruments as prescribed by the Public Debt Management Law	5 million VND/per listing registration change	Listed organizations; Investment Fund Management Companies with listed fund certificates	Within seven working days from the date the Stock Exchange issues the approval decision for listing changes	Not applicable to government debt instruments, government-guaranteed bonds, local government bonds, organizations listed on the UPCOM, and situations involving ETF fund certificate swaps
The Standing Office of the Council for International Cooperation on Non-Governmental Organizations (Vietnam Friendship Association) is the agency responsible for receiving registration dossiers, leading, and coordinating with member agencies of the Council to examine dossiers and return results of reviews of registration dossiers of foreign non-governmental organizations in Vietnam.		For warrant certificates	2 million VND/per listing registration change	Issuing organization of warrant certificates
3		Listing management service fee
3.1		For shares (listed value based on par value)		Listed organization	Annually
a		Listed value under 100 billion VND	15 million dong
The Standing Office of the Council for International Cooperation on Non-Governmental Organizations (Vietnam Friendship Association) is the agency responsible for receiving registration dossiers, leading, and coordinating with member agencies of the Council to examine dossiers and return results of reviews of registration dossiers of foreign non-governmental organizations in Vietnam.		Listed value from 100 billion to under 500 billion VND	20 million dong
of		Listed value from 500 billion VND and above	20 million VND + 0.001% of the listed value but not exceeding a total of 50 million VND
3.2		For corporate bonds, investment fund certificates (excluding ETFs), debt instruments as prescribed in the Law on Public Debt Management (listed value based on par value)		Listed organizations; Investment Fund Management Companies with listed fund certificates	Annually	Not applicable to government debt instruments, government-guaranteed bonds, local government bonds listed on the Stock Exchange
a		Listed value under 80 billion VND	15 million dong
The Standing Office of the Council for International Cooperation on Non-Governmental Organizations (Vietnam Friendship Association) is the agency responsible for receiving registration dossiers, leading, and coordinating with member agencies of the Council to examine dossiers and return results of reviews of registration dossiers of foreign non-governmental organizations in Vietnam.		Listed value from 80 billion to under 200 billion VND	20 million dong
of		Listed value from 200 billion VND and above	20 million VND + 0.001% of the listed value but not exceeding a total of 50 million VND
3.3		For ETFs	30 million VND/year	Securities investment fund management company with listed fund certificates	Annually
3.4		For warrant certificates	1 million VND/month	Issuing organization of warrant certificates	Annually
4		Trading service fee
4.1		Regular trading service fee		Members of the Stock Exchange	Monthly and no later than the 15th day of the following month
a		Listed shares, investment fund certificates (excluding ETF certificates)	0.027% of the transaction value
The Standing Office of the Council for International Cooperation on Non-Governmental Organizations (Vietnam Friendship Association) is the agency responsible for receiving registration dossiers, leading, and coordinating with member agencies of the Council to examine dossiers and return results of reviews of registration dossiers of foreign non-governmental organizations in Vietnam.		Listed ETF certificates	0.018% of the transaction value
of		Corporate Bonds	0.0054% of the transaction value
For coal-fired thermal power plants where the enterprise holds 100% of the registered capital and uses 100% of its own capital to invest in the project approved by the competent authority, E is determined as 100%;		Debt instruments as prescribed in the Law on Public Debt Management	0.0042% of the transaction value
đ		Registered-trading shares (UPCOM)	0.018% of the transaction value
Average loan repayment period is 10 years;		Warrant certificates with guarantees	0.018% of the transaction value
4.2		Trading service fee for repurchase transactions (repo) of debt instruments as prescribed in the Law on Public Debt Management
a		Term up to 2 days	0.00035% of the transaction value
The Standing Office of the Council for International Cooperation on Non-Governmental Organizations (Vietnam Friendship Association) is the agency responsible for receiving registration dossiers, leading, and coordinating with member agencies of the Council to examine dossiers and return results of reviews of registration dossiers of foreign non-governmental organizations in Vietnam.		Term from 3 to 14 days	0.0028% of the transaction value
of		Term over 14 days	0.0042% of the transaction value
4.3		Trading service fee for sale combined with repurchase of debt instruments as prescribed in the Law on Public Debt Management	0.0042% of the transaction value
4.4		Trading service fee for borrowing and lending debt instruments as prescribed in the Law on Public Debt Management
a		Term up to 2 days	0.00035% of the transaction value	Member borrowing and lending debt instruments as prescribed in the Law on Public Debt Management
The Standing Office of the Council for International Cooperation on Non-Governmental Organizations (Vietnam Friendship Association) is the agency responsible for receiving registration dossiers, leading, and coordinating with member agencies of the Council to examine dossiers and return results of reviews of registration dossiers of foreign non-governmental organizations in Vietnam.		Term from 3 to 14 days	0.0028% of the transaction value
of		Term over 14 days	0.0042% of the transaction value
5		Online connection service fee
5.1		Initial online connection service fee	150 million VND/member	Members of the Stock Exchange	Within five working days from the date the Stock Exchange approves the online trading connection
5.2		Periodic online connection maintenance service fee	50 million VND/member/year	Members of the Stock Exchange	Annually
6		Terminal equipment usage service fee	20 million VND/year	Members of the Stock Exchange	Annually
7		Auction, competitive bidding, and book-building service fee	0.15% of the total actual value of shares, capital contributions, and securities sold, with a maximum of 150 million VND per auction, competitive bidding, or book-building event, and a minimum of 20 million VND per auction, competitive bidding, or book-building event	Enterprises, organizations, and individuals selling shares, capital contributions, and securities through auctions, competitive bidding, or book-building as prescribed by law	After the completion of the auction, competitive bidding, or book-building period
8		Auction issuance service fee for Government bonds, national construction bonds, government-guaranteed bonds, and local government bonds	0.0125% of the nominal value of issued bonds/national construction bonds through auction method, but not exceeding 500 million VND per auction session (including additional tender sessions if any)	State Treasury; organizations issuing government-guaranteed bonds as prescribed by the Law on Public Debt Management; People's Committees of provinces and cities issuing local government bonds	Monthly and no later than the 15th day of the following month for Government bonds, national construction bonds, and government-guaranteed bonds; within five working days from the date of the local government bond auction
9		Auction repurchase service fee for Government debt instruments, government-guaranteed bonds, and local government bonds	0.00375% of the repurchase value of debt instruments/bonds through auction method, but not exceeding 150 million VND per auction session	State Treasury; organizations issuing government-guaranteed bonds as prescribed by the Law on Public Debt Management; People's Committees of provinces and cities issuing local government bonds	Within five working days from the date of the debt instrument/bond auction
10		Auction swap service fee for Government debt instruments, government-guaranteed bonds, and local government bonds	0.00375% of the swapped value of debt instruments/bonds through auction method, but not exceeding 150 million VND per auction session	State Treasury; organizations issuing government-guaranteed bonds as prescribed by the Law on Public Debt Management; People's Committees of provinces and cities issuing local government bonds	Within five working days from the date of the debt instrument/bond auction
III		SERVICE FEES APPLIED AT THE NATIONAL SECURITIES DEPOSITORY AND CLEARING CORPORATION OF VIETNAM
11		Member depository management service fee	20 million VND/year	Depository member	Annually
12		Securities registration and partial cancellation registration service fee
12.1		Initial securities registration service fee		Issuing organization	Within five working days from the date the National Securities Depository Corporation issues the initial securities registration certificate	Applies to shares, corporate bonds, investment fund certificates (including ETFs), warrant certificates with guarantees Not applicable to Government debt instruments, government-guaranteed bonds, and local government bonds
a		Securities registration value under 80 billion VND	10 million VND
The Standing Office of the Council for International Cooperation on Non-Governmental Organizations (Vietnam Friendship Association) is the agency responsible for receiving registration dossiers, leading, and coordinating with member agencies of the Council to examine dossiers and return results of reviews of registration dossiers of foreign non-governmental organizations in Vietnam.		Securities registration value from 80 billion to under 200 billion VND	15 million dong
of		Securities registration value from 200 billion VND and above	20 million dong
12.2		Additional securities registration or partial cancellation registration service fee
a		Shares, corporate bonds, investment fund certificates (excluding ETF certificates)	5 million VND/per additional securities registration or partial cancellation registration		Within five working days from the date the National Securities Depository Corporation issues the adjusted securities registration certificate	Not applicable to Government debt instruments, government-guaranteed bonds, and local government bonds
The Standing Office of the Council for International Cooperation on Non-Governmental Organizations (Vietnam Friendship Association) is the agency responsible for receiving registration dossiers, leading, and coordinating with member agencies of the Council to examine dossiers and return results of reviews of registration dossiers of foreign non-governmental organizations in Vietnam.		ETF certificates, warrant certificates with guarantees	500,000 VND/per additional securities registration and/or partial cancellation registration		For ETF certificates: Monthly and no later than the 15th day of the following month For warrant certificates with guarantees: Within five working days from the date the securities registration becomes effective
13		Securities depository service fee
13.1		Shares, fund certificates, warrant certificates with guarantees	0.27 VND/share, fund certificate, warrant certificate with guarantees/month	Depository member, organization opening direct accounts	Monthly and no later than the 15th day of the following month	Not applicable to securities held in proprietary accounts of the State Bank
13.2		Corporate Bonds	0.18 VND/corporate bond/month, maximum 2,000,000 VND/month/bond code
13.3		Debt instruments as prescribed in the Law on Public Debt Management	0.14 VND/debt instrument/month, maximum 1,400,000 VND/month/instrument code as prescribed in the Law on Public Debt Management
14		Securities transfer service fee
14.1		Securities transfer service fee between investor accounts at different depository members	0.3 VND/security/transfer/session/code (maximum 300,000 VND/transfer/session/code)	Depository member, organization opening direct accounts	Monthly and no later than the 15th day of the following month	This provision does not apply to the transfer of negotiable instruments for money market operations with the State Bank.
14.2		The service fee for securities transfer to execute payment transactions	0.3 dong per security per transfer per security code (maximum not exceeding 300,000 dong per transfer per security code)
15		Service fee for exercising rights
15.1		Less than 500 investors	3.5 million dong per exercise of rights	Issuing organization	Collected immediately each time within five working days from the date VSDC establishes the list of right holders for the issuer	This provision does not apply to government bonds, guaranteed bonds, and local government bonds
15.2		From 500 to less than 1,000 investors	7 million dong per exercise of rights
15.3		From 1,000 to 5,000 investors	10.5 million dong per exercise of rights
15.4		More than 5,000 investors	14 million dong per exercise of rights
16	Service fee for post-trade error processing
16.1	Service fee for post-trade correction		500,000 dong per transaction correction	Depository member/ Central counterparty/ Direct account opening organization	Monthly and no later than the 15th day of the following month
16.2	Service fee for processing delayed settlement transactions		1,000,000 dong per delayed settlement transaction
16.3	Service fee for processing errors in proprietary trading transactions		500,000 dong per error processing transaction
16.4	Service fee for cash settlement		5,000,000 dong per cash settlement transaction	Depository members lacking securities must settle in cash
17	Service fee for transferring ownership of securities outside the stock exchange trading system
17.1	Transfer of ownership of securities					This provision does not apply to the following cases: a) Transferring negotiable instruments from money market operations of the State Bank; b) Transferring ownership of securities between organizations established in Vietnam where the transferring party holds 100% of the charter capital of the receiving party or the receiving party holds 100% of the charter capital of the transferring party; transferring ownership of securities between subsidiaries within the same state economic group or state corporation where the parent company holds 100% of the charter capital of these subsidiaries; c) Transferring ownership due to the purchase and recovery of shares by the trade union of the issuer from employees who have left their jobs; using shares to reward or distribute to employees; the issuer using treasury shares to distribute rewards to existing shareholders or to reward or distribute to employees; d) Transferring ownership of securities registered as collateral due to the disposal of collateral assets at the request of authorized state agencies under item 17.1.e.
a	Transfer of shares of founding shareholders during the restricted transfer period as prescribed by law		0.1% of the value of the transferred ownership	Parties executing the transfer of ownership	Within five working days from the date VSDC confirms the transfer of ownership of securities
The Standing Office of the Council for International Cooperation on Non-Governmental Organizations (Vietnam Friendship Association) is the agency responsible for receiving registration dossiers, leading, and coordinating with member agencies of the Council to examine dossiers and return results of reviews of registration dossiers of foreign non-governmental organizations in Vietnam.	Transfer of ownership of securities registered centrally at VSDC approved by the Securities Commission		+ 0.1% of the value of the transferred ownership for stocks, fund certificates, warrant certificates + 0.005% of the value of the transferred ownership for corporate bonds, debt instruments as stipulated in the Law on Public Debt Management
of	Transfer of ownership of privately issued corporate bonds registered with VSDC but not traded on the Stock Exchange		0.005% of the value of the transferred ownership
For coal-fired thermal power plants where the enterprise holds 100% of the registered capital and uses 100% of its own capital to invest in the project approved by the competent authority, E is determined as 100%;	Transfer of ownership of securities due to division, merger, consolidation, contribution of shares to a business; establishment, increase in charter capital of a single private securities investment company; increase or decrease in charter capital of a fund member		0.02% of the value of the transferred ownership
Average loan repayment period is 10 years;	Transfer of ownership of securities due to the disposal of collateral securities registered and frozen at VSDC		+ 0.02% of the value of the transferred ownership for stocks, fund certificates, warrant certificates + 0.005% of the value of the transferred ownership for corporate bonds, debt instruments as stipulated in the Law on Public Debt Management	Parties transferring ownership	Within five working days from the date VSDC confirms the transfer of ownership of securities
17.2	Gift or inheritance of securities according to the Civil Code, except for gifts or inheritances between spouses, between biological parents and children, adoptive parents and adopted children, between in-laws, between grandparents and grandchildren, between siblings, provided that such transfers do not exceed the maximum foreign ownership ratio for those shares and the agreed price is higher than the ceiling price of the shares on the stock exchange trading system at the time of transaction		+ 0.1% of the value of the transferred ownership for stocks, fund certificates, warrant certificates + 0.005% of the value of the transferred ownership for corporate bonds, debt instruments as stipulated in the Law on Public Debt Management	Party receiving the transfer of ownership	Within five working days from the date VSDC confirms the transfer of ownership of securities
17.3		Transfer of ownership due to the execution of a public tender offer	0.03% of the value of the transferred ownership	Parties executing the transfer of ownership	Within five working days from the date VSDC confirms the transfer of ownership of securities
17.4		Transfer of ownership of securities in ETF share swap transactions or the execution of warrant certificates	0.05% of the nominal value of the underlying securities swapped in ETF share swaps, or the nominal value of the underlying securities transferred in warrant certificate executions	Investors executing swaps (buying, selling back ETF fund certificates) with ETF funds, investors requesting the execution of warrant certificates	Monthly and no later than the 15th day of the following month
17.5		Transfer of ownership of stocks between foreign investors when they have reached the maximum foreign ownership ratio for those stocks and the agreed price is higher than the ceiling price of the stocks on the stock exchange trading system at the time of transaction	0.1% of the value of the transferred ownership	Parties transferring ownership	Within five working days from the date VSDC confirms the transfer of ownership of securities
17.6		Transfer of ownership of securities for issuance or cancellation of depositary receipts in transactions between investors and issuers of depositary receipts abroad	0.05% of the nominal value of the underlying securities transferred in ownership	The transferring party in the transaction transferring ownership of securities for issuance of depositary receipts or the receiving party in the transaction transferring ownership for cancellation of depositary receipts	Within five working days from the date VSDC confirms the transfer of ownership of securities
18		Service fee for securities lending and borrowing through the VSDC system
18.1		Service fee for managing securities lending and borrowing transactions	+ 0.027% of the loan value on the contract establishment date for stocks, fund investment certificates, ETF fund certificates, warrant certificates, minimum 500,000 dong for settlement support loans + 0.0054% of the loan value for corporate bonds, minimum 500,000 dong for settlement support loans + 0.0042% value of the loan for debt instruments under the Law on State Debt Management, with a minimum of 500,000 VND for settlement support loans	The borrower and lender shall pay the service fee to VSDC through Depository Members	Monthly and no later than the 15th day of the following month
18.2		Service fee for managing collateral assets	0.0024% cumulative balance value of collateral assets (cash + par value of securities)/contract (maximum 1,600,000 VND per contract, minimum 100,000 VND per contract)	The borrower shall pay the service fee to VSDC through Depository Members	Monthly and no later than the 15th day of the following month
19		Service fee for principal and interest payments, government bond repurchase, construction bonds, government-guaranteed bonds, and local government bonds	0.01% value of principal, interest, and bond repurchase transactions actually settled, but not exceeding 20 million VND per transaction	State Treasury; organizations issuing government-guaranteed bonds as prescribed by the Law on Public Debt Management; People's Committees of provinces and cities issuing local government bonds	Monthly and no later than the 15th day of the following month
20		Service fee for principal and interest payments, and treasury bill repurchase	0.005% value of treasury bills actually settled and repurchased, but not exceeding 10 million VND per transaction	State Treasury	Monthly and no later than the 15th day of the following month
21		Service fee for registering security pledge measures with VSDC		Individuals and organizations requesting to register security pledge measures, provide information on secured transactions, and obtain copies of registration confirmation documents shall pay the service fee to VSDC through Depository Members	Monthly and no later than the 15th day of the following month
21.1		Service fee for registering security pledge measures
a		Initial registration of secured transactions and freezing of securities	80,000 VND per application
The Standing Office of the Council for International Cooperation on Non-Governmental Organizations (Vietnam Friendship Association) is the agency responsible for receiving registration dossiers, leading, and coordinating with member agencies of the Council to examine dossiers and return results of reviews of registration dossiers of foreign non-governmental organizations in Vietnam.		Registration of changes to registered secured transactions	60,000 VND per application
of		Registration of notification documents regarding the handling of secured assets	30,000 VND per application
For coal-fired thermal power plants where the enterprise holds 100% of the registered capital and uses 100% of its own capital to invest in the project approved by the competent authority, E is determined as 100%;		Cancellation of registration of secured transactions	20,000 VND per application
đ		Service fee for providing copies of registration confirmation documents	25,000 VND per application
21.2		Service fee for providing information on secured transactions	30,000 VND per application			Not applicable to entities required to provide information as stipulated in Clause 2, Article 171 of Decree No. 155/2020/NĐ-CP dated December 31, 2020
22		Service fee for freezing securities at the request of investors	+ 0.1% value of frozen securities for shares, fund certificates, guaranteed warrant certificates, maximum 10 million VND per security code + 0.01% value of frozen securities for corporate bonds, debt instruments under the Law on State Debt Management, maximum 10 million VND per security code	Investors requesting to freeze securities shall pay the service fee to VSDC through Depository Members	Within five working days from the date VSDC confirms the freezing of securities
23		Service fee for registering clearing members	20 million dong	Organizations approved by VSDC to become clearing members	Within five working days from the date VSDC issues the Clearing Member Certificate (one-time payment)	Apply a common service fee management rate for all general clearing members and direct clearing members
24		Service fee for managing clearing members	20 million VND/year	Clearing member	Annually	Apply a common service fee management rate for all general clearing members and direct clearing members
25		Service fee for netting	0.018% value of position transactions	Depository Members during the 12-month period from the official launch of the central counterparty mechanism/clearing member	Monthly and no later than the 15th day of the following month

B. PRICES OF SERVICES APPLICABLE IN THE DERIVATIVES MARKET

Serial number	NAME OF SERVICE FEE	PRICE LEVEL	PAYERS	PAYMENT TIME	SCOPE OF APPLICATION
I	SERVICE FEES APPLICABLE AT THE VIETNAM STOCK EXCHANGE
1	Service fee for registering derivative securities members	20 million dong	Organizations approved by the Stock Exchange to become derivative securities members	Within five working days from the date the Stock Exchange issues the Decision approving the membership status of derivative securities members (one-time payment)	Apply a common service fee rate for both regular and special market derivative securities members
2	Service fee for managing derivative securities members	20 million VND/year	Derivative securities member	Annually	Apply a common service fee rate for both regular and special market derivative securities members
II	SERVICE FEES APPLICABLE AT THE HO CHI MINH CITY STOCK EXCHANGE AND THE HANOI STOCK EXCHANGE
3	Service fee for trading derivative securities
a	Futures index contract	2,700 VND per contract	Derivative securities member	Monthly and no later than the 15th day of the following month
The Standing Office of the Council for International Cooperation on Non-Governmental Organizations (Vietnam Friendship Association) is the agency responsible for receiving registration dossiers, leading, and coordinating with member agencies of the Council to examine dossiers and return results of reviews of registration dossiers of foreign non-governmental organizations in Vietnam.	Government bond futures contract	4,500 VND per contract
III	SERVICE FEES APPLICABLE AT THE TOTAL COMPANY OF SECURITIES DEPOSITORY AND DERIVATIVES CLEARING
4	Service fee for registering derivatives clearing members	20 million dong	Organizations approved by VSDC to become derivatives clearing members	Within five working days from the date VSDC issues the Clearing Member Certificate (one-time payment)	Apply a common service fee management rate for all general clearing members and direct clearing members
5	Service fee for managing derivatives clearing members	30 million VND/year	Derivatives clearing member	Annually	Apply a common service fee management rate for all general clearing members and direct clearing members
6	Service fee for netting derivatives	2,550 VND per position contract	Derivatives clearing member	Monthly and no later than the 15th day of the following month	Effective from the date VSDC officially launches derivative securities netting and settlement activities using the new IT system for the securities market
7	Service fee for managing margin assets	0.0024% cumulative balance value of margin assets (cash + par value of securities)/account/month (maximum 1,600,000 VND per account/month, minimum 100,000 VND per account/month)	Derivatives clearing member	Monthly and no later than the 15th day of the following month
8	Service fee for post-trade correction of derivative securities transactions	500,000 VND per correction transaction	Derivatives clearing member	Monthly and no later than the 15th day of the following month	Effective from the date VSDC officially launches derivative securities netting and settlement activities using the new IT system for the securities market

ANNEX

GUIDELINES FOR SERVICE FEES IN THE SECURITIES FIELD IN THE PRICING TABLE

(Annexed to Circular No. 101/2021/TT-BTC dated November 17, 2021 of the Minister of Finance)

A. SERVICE FEES APPLICABLE IN THE PRIMARY SECURITIES MARKET

1. Service fee for managing members

Service fee	=	Price level	x	Time for calculating service fees (month)
		Twelve months

a) The fee level specified in Point 1, Section I, Part A of the Pricing Table.

b) Time for calculating service fees

- In cases where an organization is currently a member of the Stock Exchange and does not have its membership revoked within the year, the time for calculating service fees is twelve months from January 1st of the calculation year.

- In cases where an organization is newly approved as a member of the Stock Exchange and does not have its membership revoked within the same year, the time for calculating service fees is calculated from the month following the month in which the Stock Exchange issues the Decision approving the membership status until the end of December of that year.

- In cases where an organization is currently a member of the Stock Exchange and has been suspended from trading or had its trading activities halted by the Stock Exchange to revoke its voluntary or mandatory membership within the year, the time for calculating service fees is calculated from the beginning of the year until the month in which the Stock Exchange implements the suspension of trading or halts trading activities to revoke the membership.

- In cases where an organization is newly approved as a member of the Stock Exchange and has been suspended from trading or had its trading activities halted by the Stock Exchange to revoke its voluntary or mandatory membership within the year, the time for calculating service fees is calculated from the month following the month in which the Stock Exchange issues the Decision approving the membership status until the month in which the Stock Exchange implements the suspension of trading or halts trading activities to revoke the membership.

c) In the case where a member of the Stock Exchange is formed after a merger, consolidation, division, separation, conversion, acquisition, and must go through new membership registration procedures, they shall pay service fees similar to the case of registering as a new member.

d) Refund of service fees:

In the case where a member of the Stock Exchange terminates their membership status, the Stock Exchange will refund the member the difference between the price of the membership code paid for that year and the actual service fee payable calculated according to the formula and guidance provided in Points a and b of this Clause.

2. Service fee for listing registration

a) The level of fee prescribed in Point 2 Section II Part A Price List.

b) In the case where an organization registers for securities listing, which is approved for listing but subsequently has its listing forcibly terminated or voluntarily terminated, the listed organization, investment fund management company, and security warrant issuing organization shall not be refunded the service fee for listing registration.

3. Service fee for managing listings

a) The service fee for managing listings of shares, corporate bonds, investment fund certificates, and debt instruments is regulated under the Law on Public Debt Management.

Service fee	=	Price level	X	Time for calculating service fees (month)
		Twelve months

a1) Level of fee

- The level of fee prescribed in Points 3.1 and 3.2 Section II Part A Price List applies correspondingly to each type of security and the listing value.

- In the case where an organization lists multiple types of securities on the same Stock Exchange, the fee is calculated separately for each type of security.

a2) Time period for calculating service fees

- For securities that are listed and not delisted during the year, the time period for calculating service fees is twelve months from January 1 of the calculation year.

- For organizations that list for the first time and are not delisted during the year, the time period for calculating service fees in the first year will be from the month following the month when the Stock Exchange issues the Decision approving the listing until December of that year.

- For securities that are listed but delisted during the year, the time period for calculating service fees is from the beginning of the year to the end of the month when the delisting becomes effective.

- For securities that are newly listed but delisted during the year, the time period for calculating service fees is from the month following the month when the Stock Exchange issues the Decision approving the listing until the end of the month when the delisting becomes effective.

a3) In the case where a listed organization, investment fund management company changes its listing registration leading to a change in the service fee payable (not applicable to Exchange-Traded Funds (ETFs)), the service fee for managing listings is calculated as the sum of:

- The fee calculated based on the corresponding level with the old type of security, listing value, and the time period for calculating service fees from the start of the year (or from the month following the month when the Stock Exchange issues the Decision approving the listing for new listings within the year) until the end of the month when the Stock Exchange issues the next Decision approving the listing change within the year.

- The fee calculated based on the corresponding level with the new type of security, listing value, and the time period for calculating service fees from the month following the month when the Stock Exchange issues the previous Decision approving the listing change within the year until the end of the month when the next Decision approving the listing change is issued or until the end of December of that year.

a4) Refund or additional collection of service fees for managing listings of shares, corporate bonds, investment fund certificates, and debt instruments according to the Law on Public Debt Management.

- In the case where securities are delisted during the year, the Stock Exchange refunds the listed organization, investment fund management company the difference between the amount paid by these organizations for the year and the actual amount payable calculated according to the formula and guidance provided in Points a1 and a2 of this Clause.

- In the case where a change in listing leads to an increase or decrease in the service fee payable after the change compared to the service fee already paid, the Stock Exchange recalculates the difference to collect additional amounts or refund to the listed organization, investment fund management company.

b) Service fee for managing listings of guaranteed warrants

Service fee = Level of fee x Time period for calculating service fees (months)

b1) The level of fee prescribed in Point 3.4 Section II Part A Price List.

b2) Time period for calculating service fees

- The time period for calculating service fees is from the month when the Stock Exchange issues the Decision approving the listing of guaranteed warrants until the last month of the term of the guaranteed warrants. For guaranteed warrants listed for the first time during the year, the time period for calculating service fees in the first year is from the month when the Stock Exchange issues the Decision approving the listing of guaranteed warrants until December of that year and does not exceed the term of the guaranteed warrants.

- In the case where guaranteed warrants are listed but delisted during the year, the time period for calculating service fees is from the month when the Stock Exchange issues the Decision approving the listing until the end of the month when the delisting becomes effective.

b3) Refund of service fees for managing listings of guaranteed warrants

In the case where guaranteed warrants are delisted, the Stock Exchange refunds the listed organization the difference between the amount paid by these organizations and the actual amount payable calculated according to the formula and guidance provided in Points b1 and b2 of this Clause.

4. Service fee for trading

a) Service fee for trading shares, investment fund certificates, corporate bonds, and debt instruments according to the Law on Public Debt Management, and guaranteed warrants.

Service fee

=

Price level

x

Total transaction value of each member

Where:

- Total transaction value of each member

=

Value of purchased securities

+

Value of sold securities

- The level of fee prescribed in Point 4 Section II Part A Price List.

b) Service fee for repurchase transactions (repo) of debt instruments according to the Law on Public Debt Management is charged only once based on the initial transaction value (purchase transaction), and not charged for subsequent sale transactions.

c) Service fee for combined sale and repurchase transactions of debt instruments according to the Law on Public Debt Management: charged only once based on the initial transaction value (sale transaction), and not charged for subsequent purchase transactions.

d) Service fee for borrowing and lending transactions of debt instruments according to the Law on Public Debt Management: charged only once based on the borrowing and lending transaction value, and not charged for repayment transactions.

5. Service fee for online connection

The price of online connection services includes the initial service connection price and the periodic connection maintenance service price.

a) Initial service connection price

- The level of price specified at Point 5.1 Section II Part A Price List.

- In cases where members are formed after mergers, acquisitions, divisions, spin-offs, conversions, or takeovers, the initial online connection service price shall be calculated as follows:

+ Charge the initial online connection service price for members operating without relying on the existing physical infrastructure, information technology systems, and transaction software of one of the participating members in the merger, acquisition, division, spin-off, conversion, or takeover.

+ Do not charge the initial online connection service price for members operating based on the existing physical infrastructure, information technology systems, and transaction software of one of the participating members in the merger, acquisition, division, spin-off, conversion, or takeover.

b) Periodic connection maintenance service price

Service fee	=	Price level	x	Time for calculating service fees (month)
		Twelve months

- The level of price specified at Point 5.2 Section II Part A Price List.

- Time for calculating service prices:

+ For members who are not suspended from online trading connections by the Stock Exchange to revoke their membership status within the year, the time for calculating service prices is 12 months starting from January 1 of the pricing year.

+ For members newly approved for online trading connections and not suspended from online trading connections by the Stock Exchange to revoke their membership status within the year, the time for calculating service prices starts from the month immediately following the month when the Stock Exchange approves the online trading connection until December of that year.

+ For members currently connected to online trading and suspended from online trading connections to revoke their membership status within the year, the time for calculating service prices is from the beginning of the year until the month when the Stock Exchange implements the suspension of online trading connections to revoke the membership status.

+ For members newly approved for online trading connections and suspended from online trading connections to revoke their membership status within the year, the time for calculating service prices starts from the month immediately following the month when the Stock Exchange approves the online trading connection until the month when the Stock Exchange implements the suspension of online trading connections to revoke the membership status.

c) In cases where members of the Stock Exchange are formed after mergers, acquisitions, divisions, spin-offs, conversions, or takeovers and must go through new registration procedures for online trading connections, they must pay the periodic connection maintenance service price similar to the case of registering as new online trading members.

d) Refund of service usage fees

In cases where members suspend online trading connections to revoke their membership status, the Stock Exchange refunds the difference between the service fee paid by the member during the year and the actual service fee payable according to the guidance at Point b Clause this.

6. Service price for terminal equipment usage

Service fee	=	Price level	x	Time for calculating service fees (month)
		Twelve months

a) The level of price specified at Point 6 Section II Part A Price List.

b) Time for calculating service fees

- For members of the Stock Exchange who have not been suspended from trading or had their trading activities halted to revoke their membership status voluntarily or compulsorily in the same year, the time for calculating service prices is 12 months starting from January 1 of the pricing year.

- For organizations newly approved as members of the Stock Exchange and have not been suspended from trading or had their trading activities halted to revoke their membership status voluntarily or compulsorily in the same year, the time for calculating service prices starts from the month immediately following the month when the Stock Exchange issues the Decision approving remote trading connections until December of that year.

- For securities companies currently members of the Stock Exchange and suspended from trading or had their trading activities halted to revoke their membership status voluntarily or compulsorily in the same year, the time for calculating service prices is from the beginning of the year until the month when the Stock Exchange implements the suspension of trading or halting of trading activities against the member to revoke the membership status.

- For organizations newly approved as members of the Stock Exchange and suspended from trading or had their trading activities halted to revoke their membership status voluntarily or compulsorily in the same year, the time for calculating service prices starts from the month immediately following the month when the Stock Exchange issues the Decision approving remote trading connections until the month when the Stock Exchange implements the suspension of trading or halting of trading activities against the member to revoke the membership status.

c) In cases where members of the Stock Exchange are formed after mergers, acquisitions, divisions, spin-offs, conversions, or takeovers and must go through new registration procedures, they must pay the service price for terminal equipment usage similar to the case of registering as new members.

d) Refund of service usage fees

In cases where members of the Stock Exchange revoke their membership status, the Stock Exchange refunds the difference between the service fee paid by the member during the year and the actual service fee payable according to the formula and Points a, b Clause this.

7. Service price for auction, competitive bidding, and book-building at the Stock Exchange

a) The level of price specified at Point 7 Section II Part A Price List.

b) The value of shares/equity contributions/securities sold used to calculate the service price for one auction/competitive bidding/book-building includes the sale value through direct negotiation with investors who participated in the auction (in cases where the Stock Exchange conducts a negotiated sale of remaining shares/securities not sold from the auction).

c) In cases where conditions for organizing auctions/competitive bidding/book-building are not met or the service user requests a temporary halt to the organization of auctions/competitive bidding/book-building, the Stock Exchange still collects a minimum of 20 million dong per event.

8. Service price for managing depositary members

Service fee	=	Price level	x	Time for calculating service fees (month)
		Twelve months

a) The level of price specified at Point 11 Section III Part A Price List.

b) Time for calculating service fees

- For organizations currently depositary members of VSDC and not having their Depositary Membership Certificate revoked by VSDC within the year, the time for calculating service prices is 12 months starting from January 1 of the pricing year.

- In the case where an organization is newly approved as a depository participant and does not have its Depository Participant Membership Certificate revoked by VSDC in the same year, the period for calculating service fees shall be from the month immediately following the month in which VSDC issues the Decision to issue the Depository Participant Membership Certificate until the end of December of that year.

- In the case where an organization is currently a depository participant of VSDC and has its Depository Participant Membership Certificate revoked by VSDC in the same year, the period for calculating service fees shall be from the beginning of the year until the end of the month in which VSDC issues the Decision to revoke the Depository Participant Membership Certificate.

- In the case where an organization is newly approved as a depository participant and has its Depository Participant Membership Certificate revoked by VSDC in the same year, the period for calculating service fees shall be from the month immediately following the month in which VSDC issues the Decision to issue the Depository Participant Membership Certificate until the end of the month in which VSDC issues the Decision to revoke the Depository Participant Membership Certificate.

c) In the case where a depository participant is formed through merger, consolidation, division, spin-off, conversion, or acquisition and must go through procedures to register as a depository participant with VSDC, it shall pay the service fee as in the cases of newly registering as a depository participant.

d) Refund of service usage fees

In the case where a depository participant has its Depository Participant Membership Certificate revoked, VSDC shall refund the difference in service fees paid by the depository participant in the year based on the service fee amount paid by the depository participant minus the actual service fee amount payable calculated according to the formula and guidance set out in Point a and Point b of this Clause.

9. Service fee for securities registration and partial deregistration

a) The level of fee prescribed in Point 12 Section III Part A Fee Schedule.

b) In the case where an issuer is approved for securities registration and subsequently has its registration canceled either compulsorily or voluntarily, the issuer shall not be entitled to a refund of the service fee for securities registration.

10. Service fee for securities depositary

Service fee	=	Price level	x	ΣVi
		30 days

a) The level of fee prescribed in Point 13 Section III Part A Fee Schedule.

b) Method of calculation ΣWith

Vi is the quantity of securities deposited on day i determined by accumulating the balance of securities deposited across all securities deposit accounts of brokerage activities as well as proprietary trading on that day.

i = 1 → n are the days in the month when there is a balance of securities deposited.

The daily balance of securities deposited is calculated at the end of each day based on documents confirmed effective by VSDC.

c) Exemption from payment of securities depositary service fee

Exemption from payment of securities depositary service fee applies to shares of public companies but not yet listed or traded on the Stock Exchange.

11. Service fee for securities transfer between accounts

a) The service fee payable in the month is the total of the service fee for securities transfer on day i

(i = 1 → n are the days in the month when there is a transaction of transferring securities between investor accounts at different depository participants)

The service fee for securities transfer on day i = Σ(Level of fee x Vj)

- Level of fee prescribed in Point 14.1 Section III Part A Fee Schedule.

Where:

- Vj is the total number of securities of code j on each securities deposit account according to the securities transfer request on day i of the transferring depository participant confirmed by VSDC on the effective date of transfer (j = 1 → m are the security codes involved in the transfer transactions between investor accounts at different depository participants on day i).

b) Service fee for securities transfer for settlement purposes

The service fee payable in the month is the total of the service fee for securities transfer for settlement on day i (i = 1→n are the days in the month when there is a transaction of transferring securities for settlement in connection with securities sale transactions)

The service fee for securities transfer for settlement on day i = Σ(Level of fee x Pj)

- Level of fee prescribed in Point 14.2 Section III Part A Fee Schedule.

Where:

- Pj is the total number of securities of code j (j = 1→m are the security codes involved in the settlement transactions on day i) according to the transaction result notification issued by VSDC.

12. Service fee for exercising rights

a) The level of fee prescribed in Point 15 Section III Part A Fee Schedule.

b) The service fee for exercising rights is calculated based on the number of security holders of the issuing organization (including both registered and unregistered holders) on the consolidated list of security holders compiled by VSDC according to each announcement of the final record date for exercising rights.

13. Service fee for post-trade error processing

The service fee for post-trade error processing includes the service fee for correcting post-trade errors, the service fee for processing delayed settlement transactions, the service fee for processing proprietary trading errors, and the service fee for cash settlement.

a) Service fee for correcting post-trade errors:

Service fee = Level of fee x n

- Level of fee prescribed in Point 16.1 Section III Part A Fee Schedule.

- n is the number of erroneous transactions approved by VSDC for correction.

b) Service fee for processing delayed settlement transactions:

- Level of fee prescribed in Point 16.2 Section III Part A Fee Schedule.

- Level of fee prescribed in Point 16.1 Section III Part A Fee Schedule.

- n is the number of delayed settlement transactions approved by VSDC for processing.

c) Service fee for processing proprietary trading errors

- Level of fee prescribed in Point 16.3 Section III Part A Fee Schedule.

- Level of fee prescribed in Point 16.1 Section III Part A Fee Schedule.

- n is the number of proprietary trading transactions approved by VSDC for processing.

d) Service fee for cash settlement

- Level of fee prescribed in Point 16.4 Section III Part A Fee Schedule.

- Level of fee prescribed in Point 16.1 Section III Part A Fee Schedule.

- n is the number of cash settlement transactions approved by VSDC for processing.

đ) In the case where trade errors occur due to unforeseeable technical failures, the service fee for post-trade error processing shall be calculated according to Point a, Point b, Point c, and Point d of this Clause, but the total service fee for post-trade error processing that each depository participant and clearing member must pay shall not exceed 100 million dong/member/failure.

14. Service fee for transferring ownership of securities outside the stock exchange trading system

Value of transferring ownership of securities

Service fee

=

Price level

x

Quantity of securities transferred

Quantity of securities transferred

=

Security price

x

a) The level of fee prescribed in Point 17 Section III Part A Fee Schedule.

b) The security price for calculating the value of the securities ownership transfer transaction is determined as follows:

- For securities of organizations listed or traded:

- With respect to securities of organizations that are listed or registered for trading:

+ In the case of transfer, the price of securities shall be calculated based on the price recorded in the transfer contract but not lower than the reference price of the securities on the day VSDC performs the transfer of ownership rights.

+ In the case of gift, inheritance, or a contract without a transfer price or a transfer contract, the price of securities shall be calculated based on the reference price of the securities on the day VSDC performs the transfer of ownership rights.

+ In the case where there is no reference price for bonds, the price of securities shall be calculated based on the face value of the bonds.

- For securities of organizations that have not been listed or registered for trading, the price of securities shall be calculated based on the face value of the securities.

c) The service fee for transferring ownership rights of securities is paid by the parties performing the transfer (at Point 17.1, Point 17.3, Point 17.5 Section III Part A Price List) or the party receiving the transfer of ownership rights (at Point 17.2 Section III Part A Price List) or the investor executing the swap (buying, selling back ETF certificates) with the ETF fund and the investor requesting to execute guaranteed warrant (at Point 17.4 Section III Part A Price List) or the party transferring ownership rights in transactions transferring ownership rights serving issuance of depositary receipts/the party receiving ownership rights in transactions transferring ownership rights serving cancellation of depositary receipts (at Point 17.6 Section III Part A) through the custodian member where the parties perform the transfer of ownership rights open a securities custody account for deposited securities or through the issuer for non-deposited securities.

15. Service fee for borrowing and lending securities through the VSDC system

15.1. Service fee for managing borrowing and lending securities transactions

Service fee for borrowing and lending securities

=

Price level

x

Value of the loan at the date of establishing the loan contract

Where:

The price specified at Point 18.1 Section III Part A Price List.

The service fee for borrowing and lending securities is charged only once when borrowing securities, not when returning.

15.2. Service fee for managing collateral assets

Service fee for managing collateral assets = Price level x ΣVi

Where:

The price level specified at Point 18.2 Section III Part A Price List.

Vi: Collateral asset value (cash and securities calculated at face value) on day i

i = 1 → n is the number of borrowing days.

16. Service fee for freezing securities upon investor's request

Service fee for freezing securities

=

Price level

x

Value of frozen securities

Value of frozen securities

=

Quantity of frozen securities

x

V

Where:

a) The price level specified at Point 22 Section III Part A Price List.

b) V: Security price calculated at face value for stocks, bonds, fund certificates, ETF certificates and calculated at issue price for guaranteed warrants

17. Service fee for registering clearing members

Where:

a) The price level specified at Point 23 Section III Part A Price List.

b) In the case where a clearing member ceases its status as a mandatory or voluntary clearing member, it will not be refunded the service fee for registering as a clearing member.

18. Service fee for managing clearing members

Service fee	=	Price level	x	Time for calculating service fees (month)
		Twelve months

a) The price level specified at Point 24 Section III Part A Price List.

b) Calculation period - In the case where an organization is currently a clearing member of VSDC and is not revoked its Clearing Member Certificate by VSDC during the year, the calculation period for the service fee is 12 months from January 1 of the pricing year.

- In the case where an organization is newly approved as a clearing member and is not revoked its Clearing Member Certificate by VSDC during the same year, the calculation period for the service fee starts from the month following the month VSDC issues the Decision to grant the Clearing Member Certificate until December of that year.

- In the case where an organization is currently a clearing member of VSDC but is revoked its Clearing Member Certificate by VSDC during the year, the calculation period for the service fee is from the beginning of the year until the month VSDC issues the Decision to revoke the Clearing Member Certificate.

- In the case where an organization is newly approved as a clearing member but is revoked its Clearing Member Certificate by VSDC during the same year, the calculation period for the service fee starts from the month following the month VSDC issues the Decision to grant the Clearing Member Certificate until the month VSDC issues the Decision to revoke the Clearing Member Certificate.

c) Clearing members formed after merger, consolidation, division, spin-off, conversion, acquisition and must go through procedures to register as clearing members with VSDC shall pay the service fee as new clearing member registration cases.

d) Refund of service usage fees

In the case where a clearing member is revoked its Clearing Member Certificate, VSDC will refund the difference to the clearing member based on the service fee paid by the clearing member in the year minus the actual service fee payable according to the formula and guidance at Point a, Point b Clause this.

19. Service fee for netting

Service fee = Price level x Total net position transaction value of each member

Where:

- Total net position transaction value of each member

=

Value of purchased securities

+

Value of sold securities

- The price level specified at Point 25 Section III Part A Price List.

B. PRICES OF SERVICES APPLICABLE IN THE DERIVATIVES MARKET

1. Service fee for registering derivative securities members

a) The price level specified at Point 1 Section I Part B Price List.

b) In the case where a derivative securities member voluntarily or compulsorily terminates its membership, it will not be refunded the service fee for registering as a derivative securities member.

2. Service fee for managing derivative securities members

Service fee	=	Price level	x	Time for calculating service fees (month)
		Twelve months

a) The price level specified at Point 2 Section I Part B Price List.

b) Time for calculating service fees

- In the case where an organization is currently a derivative securities member of the Stock Exchange and does not generate termination of membership during the year, the calculation period for the service fee is 12 months from January 1 of the pricing year.

- In the case where an organization is newly approved as a derivative securities member and does not generate termination of membership during the same year, the calculation period for the service fee starts from the month following the month the Stock Exchange issues the Decision to approve derivative securities member status until December of that year.

- In the case where an organization is currently a derivative securities member and is suspended or halted from derivative securities trading activities by the Stock Exchange to terminate its membership voluntarily or compulsorily during the year, the calculation period for the service fee is from the beginning of the year until the month the Stock Exchange implements suspension or halt of derivative securities trading activities to terminate membership.

- In the case where an organization newly approved as a derivative securities member of the Stock Exchange and is suspended or halted from derivative securities trading by the Stock Exchange to revoke its membership voluntarily or compulsorily within the year, the period for calculating service fees shall be counted from the month immediately following the month in which the Stock Exchange issues the Decision approving derivative securities member status until the end of the month when the Stock Exchange suspends or halts derivative securities trading to revoke the member's status.

c) In the case where a derivative securities member is formed through merger, consolidation, division, spin-off, conversion, or acquisition and must go through new registration procedures as a derivative securities member, they must pay service usage fees similar to the case of registering as a new derivative securities member.

d) Refund of service fees:

In the case where a derivative securities member revokes their membership status, the Stock Exchange shall refund the service usage fee to the derivative securities member for the difference between the service fee paid by the member during the year minus the actual service fee payable calculated according to the formula and guidance provided at Point a and Point b of this Clause.

3. Service fee for derivative securities trading

Service fee for futures contract trading

=

Price level

x

Total number of contracts of each member

Where:

- Total number of contracts of each member = Number of buy contracts + Number of sell contracts.

- The price level specified in Point 3 Section II Part B Price List.

4. Service fee for registering as a derivative securities clearing member

a) The price level specified in Point 4 Section III Part B Price List.

b) In the case where a derivative securities clearing member revokes their clearing member status voluntarily or compulsorily, they will not be refunded the service usage fee for registering as a derivative securities clearing member.

5. Service fee for managing derivative securities clearing members

Service fee	=	Price level	x	Time for calculating service fees (month)
		Twelve months

a) The price level specified in Point 5 Section III Part B Price List.

b) Time for calculating service fees

- In the case where an organization currently is a derivative securities clearing member of VSDC and is not revoked of its clearing member status by VSDC within the year, the period for calculating service fees shall be twelve months starting from January 1st of the calculation year.

- In the case where an organization newly approved as a derivative securities clearing member and is not revoked of its clearing member status within the same year, the period for calculating service fees shall be counted from the month immediately following the month in which VSDC issues the Certificate of Derivative Securities Clearing Member to the end of December of that year.

- In the case where an organization currently is a derivative securities clearing member of VSDC but is revoked of its clearing member status within the year, the period for calculating service fees shall be counted from the beginning of the year to the end of the month in which VSDC issues the Decision revoking the clearing member status.

- In the case where an organization newly approved as a derivative securities clearing member but is revoked of its clearing member status within the same year, the period for calculating service fees shall be counted from the month immediately following the month in which VSDC issues the Certificate of Derivative Securities Clearing Member to the end of the month in which VSDC issues the Decision revoking the clearing member status.

c) A derivative securities clearing member formed through merger, consolidation, division, spin-off, conversion, or acquisition and must go through new registration procedures with VSDC as a clearing member shall make payment for service fees as in the cases of registering as a new clearing member.

d) Refund of service usage fees

In the case where a derivative securities clearing member is revoked of its clearing member status, VSDC shall refund the member the difference based on the service fee paid by the derivative securities clearing member during the year minus the actual service fee payable calculated according to the formula and guidance provided at Point a and Point b of this Clause.

6. Service fee for derivative securities settlement

Service fee = Price level x ΣVi

a) The price level specified in Point 6 Section III Part B Price List.

b) Method of calculation ΣWith

- V (VND/year): is the total investment capital allocated annually for the usable area of social housing for rent, ensuring the preservation of capital, calculated according to the following formula:_{international} is the number of contracts substituted on day i determined by accumulating the quantity of contracts substituted across all investor accounts and clearing member accounts.

i = 1 → n are the days in the month with transactions occurring.

7. Service fee for managing margin assets

Service fee for managing margin assets submitted by clearing members in the month:

P = P₁ + P₂

Where:

P is the service fee for managing margin assets;

P1 is the service fee for managing margin assets in cash;

P2 is the service fee for managing margin assets in securities;

- Managing margin assets in cash

Payee: derivative securities clearing members with cash margin asset balances generated

Service fee for managing cash margin assets submitted by clearing members in the month: P₁ = ΣPi

Pi = Price level x cash margin balance on day i

Where:

"5. The pre-tax weighted average cost of capital i (%) is determined according to the formula below:_{international} is the service fee for managing margin assets on day i

i = 1 → n are the days in the month with cash margin balances.

The price level specified in Point 7 Section III Part B Price List.

- Managing margin assets in securities

Payee: derivative securities clearing members with securities margin asset balances generated

Service fee for managing securities margin assets submitted by clearing members in the month: P₂ = ΣP_{international}

"5. The pre-tax weighted average cost of capital i (%) is determined according to the formula below:_{international}= Price level x Σ(V_{9. Travel distance is the distance traveled without using mechanical means (cars, motorcycles, motorboats) to reach locations for implementing technical forest management measures and patrolling to protect forests.} x k)

Where:

"5. The pre-tax weighted average cost of capital i (%) is determined according to the formula below:_{international} is the service fee for managing securities margin assets on day i;

i = 1 → n are the days in the month with securities margin balances;

k is the par value of security code j with balances generated on day i;

V_{international} is the total securities margin balance of code j on the securities margin account at VSDC on day i;

j = 1 → m are the security codes with balances generated on day i;

The price level specified in Point 7 Section III Part B Price List.

8. Service fee for post-trade error correction in derivative securities

- Level of fee prescribed in Point 16.1 Section III Part A Fee Schedule.

- The price level specified in Point 8 Section III Part B Price List.

- n is the number of trade errors accepted for processing by VSDC.