An investor standing in front of a stock trading screen. Photo tuoitre.vn

HÀ NỘI — The State Securities Commission (SSC) sent an official dispatch to stock exchanges, requesting disclosure of information for proprietary trading of securities companies and information related to firms influencing stocks that hit ceiling or floor prices for five consecutive sessions.

According to the document, based on the reports of stock exchanges on the trading situation on the stock market and Circular 96/2020/TT-BTC guiding the disclosure of information on the stock market, approved by the Ministry of Finance, SSC requested the Việt Nam Stock Exchange (VNX) to direct the Hồ Chí Minh Stock Exchange (HoSE) and the Hà Nội Stock Exchange (HNX) to disclose information on total volume and total value of proprietary trading - buying and selling transactions - for each securities code at the end of a trading day. 

The document also said that SSC directs HOSE and HNX to require listing organisations to register for trading within 24 hours from the time that shares hit the ceiling or floor prices for at least five consecutive sessions to report and disclose information related to companies that affect the stock price movements.

Stock exchanges, at the same time, publish on their website the content of the explanation report of the listing organisations or organisations that register for trading.

SSC proposed that stock exchanges implement the above solutions before May 23.

In an announcement, HoSE says that the exchange will publish self-trading data of securities companies at the end of Tuesday’s trade. Meanwhile, according to HNX, due to some technical issues, it will take more time, but the information will be disclosed before May 23.

On May 16, the Ministry of Finance said it would continue to carry out inspections and examinations of public companies, securities trading organisations and audit firms, which are approved on the basis of the adjusted plan, and to strictly handle violations based on monitoring results.

In addition, from now until the end of 2022, the Ministry of Finance would urgently implement and review problems and shortcomings in the securities law and decrees guiding the 2019 Securities Law.

The ministry would closely monitor securities transactions showing signs of abnormality, and promptly coordinate with stock exchanges in assessing, analysing and inspecting transactions showing signs of violations.

It also said that it would implement a plan to inspect and examine audit firms providing services for listed companies and public companies, paying attention to businesses whose customers have made false financial statements or made errors.

At the same time, it would boost inspection and supervision of the issuance of corporate bonds, especially those without collateral, and continue to implement the stock market restructuring project in accordance with the roadmap and legal regulations.

Moreover, to limit the possibility of the price impact of the derivatives market on underlying securities, SSC has approved Việt Nam Securities Depository (VSD) to issue a regulation on margin, clearing and settlement of derivative securities, of which, one of the new points of the regulation is to adjust the final settlement price of the VN30-Index futures contract.

Accordingly, the final settlement price will be the simple arithmetic average value of the VN30-Index in the last 30 minutes of the expiration date, consisting of 15 minutes of continuous order matching and 15 minutes at the close (ATC) orders, after subtracting the three highest and three lowest index values ​​of the continuous matching session, instead of just taking the VN30-Index value at the ATC session like it did before.

The final settlement price calculation according to the above method will be applied by VSD after stock exchanges complete the adjustment of the sample contract information and publish it at least seven working days under current regulations. VNS