Requirements for disclosing proprietary trading data of securities companies

Requirements for disclosure of proprietary trading data of securities companies - 1

The Stock Exchanges shall disclose information on proprietary trading transactions of securities companies.

Facing the very sharp declines in the stock market in recent trading sessions, recently, the State Securities Commission together with the Vietnam Stock Exchange (VNX) chaired a meeting with the Ho Chi Minh Stock Exchange (HOSE), the Hanoi Stock Exchange (HOSE) and the Hanoi Stock Exchange (HNX). HNX), Depository Center Vietnam Securities (VSD) and 23 member securities companies leading the market in terms of capital and stock brokerage market share to identify and evaluate the stock market situation and propose solutions to soon stabilize the market.

The State Securities Commission and other securities companies are of the same opinion that, Vietnam stock market’s decline in recent years mainly stems from the downward trend of the world stock market and a number of domestic reasons. However, in the medium and long term, Vietnam’s stock market still has potential for growth as many positive factors continue to be maintained.

The committee will assign VNX to direct HNX and HOSE to issue warnings and request listed companies to disclose information when stocks show signs of increasing or decreasing at ceiling or floor prices from 5-10 sessions. Disclosure of information on proprietary transactions of securities companies must be made. In the coming time, the State Securities Commission will submit amendments and supplements to Circular 96/2020/TT-BTC dated November 16, 2020 of the Ministry of Finance guiding information disclosure on the stock market.

Along with that, in order to limit the possibility of price impact from the derivatives stock market on the underlying stock market, the State Securities Commission has approved for VSD to issue the Regulation on margin, clearing and settlement of derivative securities. In which, one of the new points of this 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 of the VN30 index in the last 30 minutes of the expiration date (including 15 minutes of continuous order matching and 15 minutes of periodic closing). after subtracting the 3 highest and 3 lowest index values ​​of the continuous matching session, instead of just taking the VN30 index value of the periodic closing session as calculated before. this.

The calculation of the final payment price according to the above method will be applied by VSD after the Exchange completes the adjustment of the sample contract information and publishes it at least 7 working days after the current regulations.“, the leader of the State Securities Commission said.

Previously, talking to the press recently, the State Securities Commission said that in the current volatile market context, the State Securities Commission is prioritizing many short-term solutions to stabilize the stock market; at the same time, insist on medium and long-term solutions for the stock market to develop sustainably and transparently.

At the same time, improve the operational efficiency, service quality, financial capacity, and professional ethics of service providers in the market, especially securities companies and independent auditing companies. …

In addition, continue to step up the inspection, inspection and supervision of market activities to promptly prevent and strictly handle violations, protect the legitimate rights and interests of participants. market share.

According to Clause 1, Article 72 of the Law on Securities, Securities Company licensed to perform one, several or all securities business operations, including securities brokerage, securities trading, securities underwriting and securities investment consulting. The Ministry of Finance said that securities companies licensed to conduct proprietary trading, customer account management and securities investment consulting may have conflicts of interest between securities companies and customers. Therefore, in order to prevent, the Law on Securities (Article 89) and its guiding documents have regulated to limit conflicts of interest between customers and securities companies. benefit and protect customer assets.

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