Knowledge

Knowledge

HNX Trading Regulations


  Trading Method   Trading Time
  Continuous Order-matching I   09:00 – 11:30
  Continuous Order Matching II   13:00 – 14:30
  Closing Periodic Order Matching   14:30 – 14:45
  Post-session Order Matching   14:45 – 15:00
  Put through     09:00 – 15:00
  • Stocks: ± 10% against reference price
  • Stocks and ETFs that are newly listed for trading or are available for trading after more than 25 days of suspension: ± 30% against reference price
  • Stocks that are paying cash or stock dividends to shareholders: ± 30% against reference price at the ex-day. 
  • Bonds: No price range
  •   Order matching and put-through
  • Price priority
  • Time priority
  • Trading unit of even-lot transactions: 100 shares, ETFs, or bonds
  • Volume of put-through transactions: At or above 5,000 shares, or ETFs. There is no limit on trading unit of put-through transactions of stocks and ETFs.
  • Trading unit and the minimum volume of put-through transactions of bonds are 1 bond.
  • Odd-lot transactions having volume from 1 to 99 shares, ETFs, or bonds are executed by either continuous order matching or put-through.
  • Put-through and odd-lot transactions cannot be executed on the first trading date of newly listed stocks nor on the first trading day after a session of 25 day suspension until closing prices of the stocks are determined. 
  • Matching orders of stocks and bonds: VND 100 
  • Put-through orders of stocks and bonds: VND 1
  • ETFs: VND 1 
  • Closing price is price of the last order matching transaction in a trading day but before the post-session order matching.  
  • Reference price is the closing price of the previous trading day.
  • LO orders are valid till the end of closing session or at the time of cancellation
  • Market order is valid during continuous order matching session

- Market to Limit (MTL) is similar to MP in HSX

- Fill or Kill (MOK) order must be filled in entirely or canceled

- Fill and Kill (MAK) order can be filled partially and canceled the remaining volume

- ATC Order is valid on periodic order matching session

  • PLO orders are specified as follows:

- The PLO orders are buy or sell orders at the closing price after the closing session.

- The PLO orders can be placed into the system only after closing session.

- The PLO orders are matched immediately upon entering the system if counterpart orders are available. Execution price is the closing price of the trading day.

- PLO orders cannot be amended or cancelled.

- In cases where the execution price from continuous order- matching and closing session cannot be determined, PLO orders cannot be placed.

  • Amendment of price and volume and cancellation of orders can only be carried out when an order or a part of that order has not been executed. 

  • During continuous order matching session, limit orders can be cancelled, and theirs price and volume can be amended. The priority of orders is determined as follows:

    • Order priority will not change if volume is decreased.

    • New order priority will be established right after volume is increased and/ or price amendments of existing orders are entered into system. 

  • During the closing periodic order matching session (ATC), limit orders and ATC orders including orders transferred from the continuous order matching session cannot be cancelled and their prices and volume cannot be amended. 

  • PLO orders cannot be amended or cancelled.