Knowledge
1.1. HSX Trading Regulations
Trading hours are from Monday to Friday, excluding the Public holidays.
1.1. Stocks, closed-end fund certificates, ETF certificates, and covered warrants
| Sessions | Trading methods | Trading hours | Trading types |
|---|---|---|---|
| Morning Session | Periodical Order Matching – At the opening | 09h00 - 09h15 | Even lot: LO, ATO Odd lot: LO |
| Continuous Order Matching session I | 09h15 - 11h30 | Even lot: LO, MTL Odd lot: LO |
|
| Put through | 09h00 – 11h30 | ||
| Intermission | 11h30 - 13h00 | ||
| Afternoon Session | Continuous Order Matching session II | 13h00 - 14h30 | Even lot: LO, MTL Odd lot: LO |
| Periodical Order Matching – At the closing | 14h30 – 14h45 | Even lot: LO, ATC Odd lot: LO |
|
| Put through | 13h00 – 15h00 | ||
Note: During the intermission session, the following actions are not allowed:
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Taking, amending, or canceling orders.
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Taking or canceling advertised put-through transactions.
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Executing put-through transactions or canceling awaiting put-through transactions.
1.2. Restricted Stocks (PCA)
| Trading method | Trading hours | Trading types |
|---|---|---|
| Periodical Order Matching – At the opening | 09h00 – 09h15 | LO, ATO |
| Periodical Order Matching 1 | 09h15 – 09h30 | LO |
| Periodical Order Matching 2 | 09h30 – 09h45 | LO |
| Periodical Order Matching 3 | 09h45 – 10h00 | LO |
| Periodical Order Matching 4 | 10h00 – 10h15 | LO |
| Periodical Order Matching 5 | 10h15 – 10h30 | LO |
| Periodical Order Matching 6 | 10h30 – 10h45 | LO |
| Periodical Order Matching 7 | 10h45 – 11h00 | LO |
| Periodical Order Matching 8 | 11h00 – 11h15 | LO |
| Periodical Order Matching 9 | 11h15 – 11h30 | LO |
| Intermission | 11h30 – 13h00 | |
| Periodical Order Matching 10 | 13h00 – 13h15 | LO |
| Periodical Order Matching 11 | 13h15 – 13h30 | LO |
| Periodical Order Matching 12 | 13h30 – 13h45 | LO |
| Periodical Order Matching 13 | 13h45 – 14h00 | LO |
| Periodical Order Matching 14 | 14h00 – 14h15 | LO |
| Periodical Order Matching 15 | 14h15 – 14h30 | LO |
| Periodical Order Matching – At the closing | 14h30 – 14h45 | LO, ATC |
Note:
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Restricted stocks can only be traded in lot sizes through the periodic order matching method, including the opening periodic matching session, the subsequent periodic sessions (each lasting 15 minutes), and the closing periodic matching session.
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During the opening and closing periodic matching sessions, investors are not permitted to amend or cancel orders. In periodic matching sessions 1 through 15, order amendments and cancellations are prohibited during the final 5 minutes of each session.
| Contents | Details | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2.1 Trading Units | |||||||||
| Stocks, closed-end fund certificates, ETF certificates, and covered warrants | 100 | ||||||||
| - Trading units for even lot transactions | 100, maximum volume is 500.000 | ||||||||
| - Trading units for odd lot transactions | 1, maximum volume is 99 | ||||||||
| - Trading units for block trade | 1, minimum volume is 20.000 | ||||||||
| 2.2 Tick size | |||||||||
| Stocks, closed-end fund certificates |
|
||||||||
| ETF certificates, covered warrants | apply a base unit of VND 10 for all prices | ||||||||
| Tick size for put-through transactions | 1 dong |
| Contents | Price limits |
|---|---|
| Stocks, closed-end fund certificates, ETF certificates, and covered warrants | ± 7% relative to the reference price |
| Stocks on the ex-rights date in cases of share offering to existing shareholders | ± 7% relative to the reference price |
| First trading day of stocks, closed-end fund certificates, and ETF certificates | ± 20% relative to the reference price |
| Stocks, closed-end fund certificates, and ETF certificates resuming trading after a trading halt or suspension lasting twenty-five (25) or more consecutive trading days | |
| Stocks, closed-end fund certificates, and ETF certificates on the ex-rights date in the following cases: listed company spin-offs, dividend/bonus share distributions to existing shareholders, cash dividends equal or greater than the closing price on the preceding trading day, and resumption of trading following listed company spin-offs not related to the ex-rights date |
Expiration of Covered Warrants
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If investors hold covered warrants until expiration, they will be automatically settled if they are in-the-money.
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Last trading day: as announced by the issuer (T)
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Last registration date / Covered warrant expiration date: T+2 after the last trading day
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Settlement date: T+7
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Payment amount per covered warrant = (Covered warrant settlement price – Covered warrant exercise price) / (Conversion ratio)
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Settlement price (for covered warrants with underlying assets being stocks): the average closing price of the underlying stock over the 5 trading days before the expiration date, excluding the expiration date
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Payment method: Cash
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Method: Direct allocation to the securities account
Example: Calculation of Settlement Price and Payment Amount
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Covered warrant exercise price: 20.000 VNĐ
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Last trading day of the covered warrant: 10/12/2019
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Covered warrant expiration date: 12/12/2019
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Covered warrant settlement price calculation dates: 05/12, 06/12, 09/12, 10/12, 11/12
- Closing prices of the underlying security on these dates:
Date Closing price of the underlying security 05/12 20.500 06/12 21.000 09/12 21.800 10/12 21.400 11/12 21.200 5-day average price 21.180