Circular No. 139/2025/TT-BTC amends and supplements certain provisions of Circular No. 57/2021/TT-BTC dated July 12, 2021, issued by the Minister of Finance, regulating the timeline for restructuring the stock trading market, the bond trading market, the derivatives securities trading market, and other types of securities markets amended and supplemented by Circular No. 69/2023/TT-BTC dated November 15, 2023, issued by the Minister of Finance.

CIRCULAR

Circular amending and supplementing certain Articles of Circular No. 57/2021/TT-BTC dated July 12, 2021, of the Minister of Finance on the roadmap for restructuring the stock market, bond market, derivatives securities market, and other types of securities markets amended and supplemented by Circular No. 69/2023/TT-BTC dated November 15, 2023, of the Minister of Finance

Pursuant to Securities Law No. 54/2019/QH14 amended and supplemented by Law No. 56/2024/QH15;

Pursuant to Decree No. 155/2020/NĐ-CP dated December 31, 2020 of the Government detailing the implementation of certain provisions of the Securities Law amended and supplemented by Decree No. 245/2025/NĐ-CP dated September 11, 2025;

Pursuant to Decree No. 29/2025/NĐ-CP dated February 24, 2025 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance amended and supplemented by Decree No. 166/2025/NĐ-CP;

Pursuant to Decision No. 37/2020/QĐ-TTg dated December 23, 2020 of the Prime Minister establishing, organizing, and operating the Vietnam Stock Exchange;

At the proposal of the Chairman of the State Securities Commission;

The Minister of Finance hereby promulgates this Circular amending and supplementing certain Articles of Circular No. 57/2021/TT-BTC dated July 12, 2021 of the Minister of Finance on the roadmap for restructuring the stock market, bond market, derivatives securities market, and other types of securities markets amended and supplemented by Circular No. 69/2023/TT-BTC dated November 15, 2023 of the Minister of Finance

Article 1. Amending and supplementing certain Points and Clauses of Article 4 of Circular No. 57/2021/TT-BTC amended and supplemented by Clause 2 and Clause 3 of Article 1 of Circular No. 69/2023/TT-BTC

1. Amending Point d Clause 2 of Article 1 as follows:

“d) By no later than December 31, 2026: The Ho Chi Minh City Stock Exchange completes the process of receiving stocks of listed organizations from the Hanoi Stock Exchange;”

2. Amending Point d Clause 3 of Article 1 as follows:

“d) By no later than December 31, 2026: The Hanoi Stock Exchange completes the process of transferring stocks of listed organizations from the Hanoi Stock Exchange to the Ho Chi Minh City Stock Exchange;”

Article 2. Implementation clause

1. This Circular takes effect from December 30, 2025.

2. The Vietnam Stock Exchange, the Hanoi Stock Exchange, the Ho Chi Minh City Stock Exchange, listed organizations, registration organizations, public companies, and other related organizations and individuals are responsible for implementing this Circular.