Decision No. 50/2003/QÐ-BTC amends and supplements certain articles in the regulations on membership, listing, information disclosure, and securities trading. This document focuses on adjusting provisions related to orders executed at the matching price (ATO), order entry methods and cancellation, as well as the minimum margin requirement for purchasing securities.
적용 범위
Investors, securities market members, representatives of members, and the Securities Trading Center
핵심 사항
- Investors may execute purchase or sale orders for securities at the matching price (ATO) Article 2 Clause 20.
- Orders executed through the matching method cannot be canceled during the same matching session but can cancel the remaining portion of the original order that has not been executed Article 46.
- The transaction unit must execute orders through the matching method with a minimum quantity of 10 shares, bonds, or investment fund certificates Article 48.
- On the first day of trading for newly listed securities, the Securities Trading Center only accepts limit orders and does not apply price fluctuation limits Article 49.
- When placing a purchase order for securities, customers must deposit a minimum margin of 70% of the value of the securities being purchased Article 57.
🌐 이 문서의 사회적 영향
- Enhancing transparency and efficiency in securities trading.
- Establishing specific rules on order cancellation, modification, and minimum margin requirements helps protect investors' rights.
- Investors who are unfamiliar with new regulations may face risks when executing securities transactions.
❓ 자주 묻는 질문
What is a purchase or sale order for securities at the matching price (ATO)?
This is a purchase or sale order for securities without specifying a price, which the investor provides to the broker to execute at the matching price Article 2 Clause 20.
Is it permissible to cancel an order during the same matching session?
No, orders entered into the system cannot be canceled during the same matching session Article 46.
What is the minimum quantity for executing a purchase or sale order for securities?
The transaction unit must execute orders through the matching method with a minimum quantity of 10 shares, bonds, or investment fund certificates Article 48.
Is there an application of price fluctuation limits on the first day of trading for newly listed securities?
No, the Securities Trading Center only accepts limit orders and does not apply price fluctuation limits Article 49.
What is the minimum margin required when placing a purchase order for securities?
Customers must deposit a minimum margin of 70% of the value of the securities being purchased Article 57.
전문
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MINISTRY OF FINANCE |
SOCIALIST REPUBLIC OF VIETNAM |
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Number: 50/2003/QĐ-BTC |
Hanoi, April 15, 2003 |
Pursuant to …;
OF THE MINISTER OF FINANCE NUMBER 50/2003/QĐ-BTC DATED APRIL 15, 2003 ON AMENDING AND SUPPLEMENTING CERTAIN PROVISIONS OF THE REGULATIONS ON MEMBERSHIP, QUOTATION, DISCLOSURE OF INFORMATION, AND SECURITIES TRANSACTIONS ISSUED TOGETHER WITH DECISION NO. 79/2000/QĐ-UBCK DATED DECEMBER 29, 2000 OF THE CHAIRMAN OF THE STATE SECURITIES COMMISSION
THE MINISTER OF FINANCE
Pursuant to the Law on Organization of the Government dated December 25, 2001;
Pursuant to Decree No. 48/1998/NĐ-CP dated July 11, 1998 of the Government on securities and the securities market;
Pursuant to Decision No. 127/1998/QĐ-TTg dated July 11, 1998 of the Prime Minister on the establishment of the Securities Trading Center;
Pursuant to Circular No. 1046/VPCP-KTTH dated March 10, 2003 of the Office of the Government on amending Decision No. 79/2000/QĐ-UBCK and Decision No. 05/2000/QĐ-UBCK;
AMENDMENTS AND SUPPLEMENTS TO CERTAIN ARTICLES OF THE REGULATIONS ON SECURITIES REGISTRATION, SAFEKEEPING, NETTING, AND SETTLEMENT ISSUED TOGETHER WITH DECISION NO. 60/2004/QD-BTC DATED JULY 15, 2004 OF THE MINISTER OF FINANCE ARE AS FOLLOWS:
DECISION:
Article 1.
Amending and supplementing certain provisions of the Regulations on membership, quotation, disclosure of information, and securities transactions issued together with Decision No.
79/2000/QĐ-UBCK dated December 29, 2000 of the Chairman of the State Securities Commission as follows:1. Supplement Clause 20, Article 2 as follows:
20. An order to trade at the matching price (ATO) is an order to buy or sell securities without specifying the price beforehand, which is provided by the investor to the broker for execution at the matching price.
2. Article 46 is amended as follows:
1. Orders to trade through the matching method include limit orders and orders to trade at the matching price, entered into the trading system by the trading representative of the member.
2. Orders entered into the trading system may not be canceled during the same matching session.
3. It is permissible to cancel the remaining part of the original order or the unexecuted portion of the original order from the previous matching session.
4. Orders entered into the system remain effective until the end of the trading day.
5. The trading representative is permitted to correct an order if it was incorrectly entered, but must present the original order and obtain approval from the Securities Trading Center. The correction of the order will only take effect if the original order has not been executed or if the remaining portion of the original order has not been executed.
3. Clause 1, Article 48 is amended as follows:
Trading units shall execute according to the matching method as follows:
Shares: 10 shares
Bonds: 10 bonds
Investment fund certificates: 10 certificates.
4. Subparagraph b, Clause 3, Article 49 is amended as follows:
In the case of newly listed securities, on the first day of trading, the Securities Trading Center will only accept limit orders, without applying price fluctuation limits, and will match only once. If there is no matching price in the first matching session, additional orders can be accepted in subsequent matching sessions. The price from this matching session will serve as the reference price for the next trading day. Price fluctuation limits will be applied from the next trading day.
5. Clause 1, Article 57 is amended as follows:
When placing a sell order for securities, the customer must have sufficient quantity of securities available for sale in their securities account opened at the member. When placing a buy order for securities, the balance in the customer's cash account opened at the member must meet the minimum margin requirement of 70% of the value of the securities being purchased.
Article 2.
This Decision takes effect 15 days after its publication in the Official Gazette. Any previous regulations that conflict with this Decision are no longer in effect.
Article 3.
The Chairman of the State Securities Commission, the Director of the Securities Trading Center, and the Heads of related units are responsible for implementing this Decision.
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Le Thi Bang Tam (Signed) |
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