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Guide stock trading

Stock Trading Guide

1. General overview of stock trading

1.1. How to make stock transactions

Customers can make stock transactions by Counter transactions, placing orders by phone or placing orders online.

  • Counter transactions: You come directly to NVS’s headquarters to make transactions

  • For the service of placing orders by phone: You need to register your phone number and password for placing orders by phone. Your orders will only be accepted when placed from the registered phone number.

  • For the online trading order service: Customers log in to the online trading system. The system will prompt customers to activate their account and create a password immediately upon access. Customers have full authority to change their login password within the system.

1.2. Transaction time

From Monday to Friday every week, except holidays as prescribed by the Labor Code and notices of HSX/HNX

Exchange HSX HNX UPCOM ODD LOT
Time Transaction method Order used Transaction method Order used Transaction method Order used Transaction method Order used
9h00 – 9h15 Periodically Open ATO, LO
No cancellation / modification of orders		 Continuous I LO, MTL, MOK, MAK
Cancel / modify order possible		 Continuous I LO
Cancel / modify order possible		 Periodically Open LO
No cancellation / modification of orders
9h15 – 9h30 Continuous I LO, MP
Cancel / modify order possible		 Continuous I LO
Cancel / modify order possible
11h30 – 13h00 Break between sessions
13h00 – 14h30 Continuous II LO, MP
Cancel / modify order possible		 Continuous II LO, MTL, MOK, MAK
Cancel / modify order possible		 Continuous II LO
Cancel / modify order possible		 Continuous II LO
Cancel / modify order possible
14h30 – 14h45 Periodically Close ATC, LO
No cancellation / modification of orders		 Periodically Close ATC, LO
No cancellation / modification of orders		 Periodically Close LO
No cancellation / modification of orders
14h45 – 15h00 After-hours PLO
No cancellation / modification of orders
9h00 – 11h30 &
13h00 – 15h00		 Put through PT orders Put through PT orders Put through PT orders Put through PT orders

Note:

For unexecuted limit orders (LO orders) or the remaining part of unexecuted orders during continuous order matching time:

    • Do not simultaneously edit volume & price;
    • An order to increase volume or change price will change the order’s priority;
    • An order to decrease volume will not change the order’s priority.

Display information on the Electronic Price Board: Display the volume corresponding to the 3 best remaining buy/sell prices after the expected match of each security.

1.3. Price unit

Stock HSX HNX UPCOM
Stocks, closed-end fund certificates Price  Price unit 100 VND 100 VND
≤ 10,000 10 VND
10,000 – 49,950 50 VND
≥ 50,000 100 VND
ETF fund certificates, warrants 10 VND
Private Bonds 01 VND

1.4. Transaction unit

HSX HNX UPCOM
Even lot order matching transaction: Even lot order matching transaction: Even lot order matching transaction:
Multiples of 100; from 100 to 500,000 shares.
 Multiples of 100  Multiples of 100
PT transaction volume: >=20,000 shares PT transaction volume: >=5,000 shares
No PT transaction unit specified
Put through transactions do not apply on the first trading day of listed stocks, ETF certificates, closed-end fund certificates, listed covered warrants and securities whose trading is suspended or suspended for more than 25 consecutive days Put through transactions are not allowed on the first trading day of a newly listed stock or the day of resumption of trading after a trading suspension of 25 consecutive days until a closing price is established Put through transactions are not allowed on the first trading day of newly listed stocks or the day of resumption of trading after 25 consecutive trading days of suspension until a reference price is established from the results of the continuous order matching method

1.5. Types of orders

  • Put-through order:
    • It is a method in which the buyer and seller agree on the transaction conditions such as price, volume, payment method and then notify the securities companies of both parties. In case the investor wants to negotiate but has not yet determined the partner, he/she can contact the securities company to enter a buy or sell order. When a partner is found and an agreement is reached, the securities company will represent the investor in the transaction;
    • Put-through transactions are carried out throughout the session, except for lunch break. The agreement order is only valid for the day and the price must be within the fluctuation range of that day. Investors are not allowed to negotiate on the first day that stocks or fund certificates are listed or registered for trading on the stock exchange.
    • The buyer or seller can initiate a negotiation order, the other party confirms/rejects the transaction;
    • The executed agreement order cannot be modified/cancelled;
    • The unexecuted agreement order, the party initiating the agreement order is allowed to cancel the initiated order;
    • The system automatically cancels the order with the unexecuted agreement order that was placed before 14:45. Investors need to place a new order if needed.
  • Limit order (LO)
    • Is an order to buy or sell securities at a specified price or better; specify the specific price;
    • Limit orders are valid from the time the order is entered into the trading system until the end of the trading day or until the order is canceled.
  • Order to trade at the opening price (ATO)
    • Only applicable at HSX;
    • Is an order to buy or sell securities at the opening price;
    • ATO orders will be displayed at a specified price like limit orders;
    • ATO orders are not given priority over limit orders during order matching;
    • ATO orders are entered into the trading system during the periodic order matching period to determine the opening price and will be automatically canceled after the time of determining the opening price if the order is not executed or not fully executed.
  • Order to trade at the closing price (ATC)
    • Is an order to buy or sell securities at the closing price;
    •  ATC orders will be displayed at a specified price like limit orders;
    • ATC orders are not given priority over limit orders during order matching;
    • ATC orders are entered into the system during the periodic order matching period to determine the closing price and will be automatically canceled after the closing price determination time if the order is not executed or not fully executed.

Note: The price display principle for ATO/ATC orders is as follows:

  • In case there is only a buy or sell surplus of ATO or ATC orders: The displayed price of the ATO/ATC buy or sell order is the expected matching price. In case there is no expected matching price, the displayed price is the closest matching price or the reference price (in case there is no closest matching price).
  • In case there is a buy or sell surplus of a limit order:
    • The displayed price of the ATO/ATC buy order is the highest buy surplus price plus 01 quotation unit (if this determined price is higher than the ceiling price, it is displayed as the ceiling price).
    • The displayed price of the ATO/ATC sell order is the lowest sell surplus price minus 01 quotation unit (if this determined price is lower than the floor price, it is displayed as the floor price).
  • Market Limit Order (MTL):
    • Applicable at HNX, HSX;
    • Is an order to buy securities at the lowest selling price or an order to sell securities at the highest buying price currently available on the market;
    • Used in continuous order matching sessions and will be canceled when there is no corresponding limit order at the time of order entry;
    • Is a market order entered, if not fully matched, the remaining part will be converted to a limit order.
    • Allowed to be modified when becoming a limit order (LO):

(1) MTL buy order: Last matched price + 1 quote unit

(2) MTL sell order: Last matched price – 1 quote unit

(3) In case the last execution price is the ceiling price with MTL buy order, the price of the remaining part is still the ceiling price

(4) In case the last execution price is the floor price with MTL sell order, the price of the remaining part is still the floor price

  • Market Order Fill All or Cancel (MOK):
    • Only applicable at HNX;
    • Is an order to buy securities at the lowest selling price or an order to sell securities at the highest buying price currently available on the market;
    • Used in continuous order matching sessions and will be canceled when there is no corresponding limit order at the time of order entry;
    • Is a market order entered, if not fully matched, the entire order will be canceled.
  • Market to Match and Cancel (MAK) Order:
    • Only applicable at HNX;
    • Is an order to buy securities at the lowest selling price or an order to sell securities at the highest buying price currently available on the market;
    • Used in continuous order matching sessions and will be canceled when there is no corresponding limit order at the time of order entry;
    • Is a market order entered, if not fully matched, the remaining part of the order will be canceled.
  • After Hours Order (PLO):
    • Only applicable at HNX;
    • Is an order to buy/sell securities at the closing price; used in after-hours trading sessions;
    • Only accept orders for the first 10 minutes, continue to accept orders and return matching results continuously for the next 5 minutes;
    • PLO orders are not entered into the system if there is no matching order in the continuous order matching session and the closing periodic order matching session;
    • Order modification/cancellation is not allowed.

1.6. Odd Lot Securities Trading

  • How to place an order: Buy and sell transactions on the exchange. Customers place orders to sell odd lots at the counter, by phone or online
  • Settlement time: Odd lot orders after being matched will also be cleared like normal trading orders
  • Order type: only use LO order, allowed to edit/cancel order (for HSX, HNX and UPCOM floors)
  • Order volume: from 01 to 99 shares
  • Transaction price:
    • The price of odd lot orders must comply with the same transaction price regulations as even lot orders;
    • Odd lot orders cannot be used to determine reference prices or index prices.
  • Other regulations:

Odd-lot trading of stocks is not allowed on the new listing day, or the day of resumption of trading after being suspended or suspended from trading for 25 consecutive trading days or more until:

(1) a closing price is established (for HSX and HNX exchanges).

(2) a reference price is established from the results of the continuous order matching method (for UPCOM exchange).

1.7. Regarding the trading of securities subject to trading restrictions

No. Criteria Exchange
HOSE Order Used HNX UPCOM
Time
1 Restricted securities (with C&R/RES status) Securities subject to restricted trading are subject to the PCA multiple-time KLĐK trading method:

 

Trading is allowed during the KLĐK session to determine the opening price, then the PCA KLĐK sessions, each lasting 15 minutes and trading during the KLĐK session to determine the closing price.

 

Investors are not allowed to modify or cancel orders during the opening KLĐK session, the closing KLĐK session and in the last 5 minutes of the PCA KLĐK session.

 

Only limit orders (LO) are allowed during the PCA KLĐK sessions

 

Unmatched orders from the previous KLĐK session can continue to wait for matching for the next KLĐK session

 

Time to receive order matching results: End of each KLĐK session 15 minutes

 

Even lot order matching transactions

Only available on Fridays

Even Lot Matching
2 PCA Periodic Order Matching PCA open: 09:00 – 09:15

 

PCA 1: 09:15 – 09:30

 

PCA 2: 09:30 – 09:45

 

PCA 3: 09:45 – 10:00

 

PCA 4: 10:00 – 10:15

 

PCA 5: 10:15 – 10:30

 

PCA 6: 10:30 – 10:45

 

PCA 7: 10:45 – 11:00

 

PCA 8: 11:00 – 11:15

 

PCA 9: 11:15 – 11:30

 

Break time: 11:30 – 13:00

 

PCA 10: 13:00 – 13:15

 

PCA 11: 13:15 – 13:30

 

PCA 12: 13:30 – 13:45

 

PCA 13: 13:45 – 14:00

 

PCA 14: 14:00 – 14:15

 

PCA 15: 14:15 – 14:30

 

PCA closed: 14:30 – 14:45

Limit order (LO)

 Not applicable

1.8. Regarding securities transactions of foreign investors (FIIs)

  • For matched transactions of stocks and closed-end fund certificates:
    • Room (the remaining volume allowed to be purchased by the FIE) decreases when the FIE’s purchase order is entered into the trading system;
    • In case the FIE’s purchase order is cancelled by the investor or the trading system, the room increases by the cancelled volume;
    • In case the FIE’s purchase order is revised to decrease in volume, the room increases by the reduced volume of the order.
  • For negotiated transactions of stocks and closed-end fund certificates:
    • Room decreases when the FIE’s purchase order is entered into the trading system in the case of a negotiated transaction between a FIE buying and a domestic selling investor;
    • In case the FIE cancels the purchase order with a domestic investor, the room will be increased immediately after the cancellation order is entered into the trading system.

1.9. Transaction payment method and time

a) Order matching method

  • Order matching method on HSX
    • Periodic order matching: Is a trading method performed by the system based on matching buy and sell orders of securities at a specified time.
      The principle of determining the execution price is as follows:+ The execution price at which the trading volume reaches the largest and all buy orders with higher prices and sell orders with lower prices than the selected price must be fully executed.+ In case there are many prices satisfying point a, the selected execution price is the price at which the order of one party must be fully executed, the orders of the opposite party must be fully or partially executed;+ In case there are many prices satisfying point b, the selected price is the price that is the same or close to the nearest execution price of the day; in case there is no execution price, the selected price is the price that is the same or close to the reference price.+ In case there is no price satisfying point b of this Clause, the selected price is the price that satisfies point a of this Clause and is the same or close to the nearest execution price of the day; in case there is no execution price, the selected price is the price that is the same or close to the reference price.
    • Continuous order matching: is a trading method performed by the system based on matching buy and sell orders of securities as soon as the orders are entered into the trading system.
      Principle of determining execution price: is the price of the corresponding orders waiting on the order book
    • PT order matching: Is a trading method in which the buyer and seller agree on the transaction conditions, then notify the securities company to record the transaction results in the trading system. Or the buyer/seller goes through the securities company to find a counterparty for the transaction.
  • Order matching method on HNX
    • Periodic order matching: Is a trading method performed by the system based on matching buy and sell orders of securities at a specified time.
      The principle of determining the execution price is as follows:
    • + The execution price that achieves the largest trading volume.
    • + If there are many prices that satisfy the above conditions, the price that is the same or closest to the execution price of the most recent order matching will be selected
    • Continuous order matching: is a trading method performed by the system based on matching buy and sell orders of securities as soon as the orders are entered into the trading system.
      Principle of determining execution price: is the price of the corresponding orders waiting on the order book.
    • PT order matching: Is a trading method in which the buyer and seller agree on the transaction conditions, then notify the securities company to record the transaction results in the trading system. Or the buyer/seller goes through the securities company to find a counterparty for the transaction.
  • Order matching method on UPCOM
    • Continuous order matching: is a trading method performed by the system based on matching buy and sell orders of securities as soon as the orders are entered into the trading system. The matching price is the price of the corresponding limit orders waiting on the order book
    • PT order matching: Is a trading method in which the buyer and seller agree on the transaction conditions, then notify the securities company to record the transaction results in the trading system. Or the buyer/seller goes through the securities company to find a counterparty for the transaction

b) Payment time

Transaction type Payment time
Stocks, fund certificates T+2
Bonds T+1

2. Order placement instructions

2.1. Instructions for placing orders by phone

Step 1: You use the registered phone number to place an order by phone to call the NVS Order Receiving Center to meet the transaction officer. Please provide the following information:

  1. Account number (sub-account) to place the order.
  2. Full name
  3. ID card number or Passport number (for foreign clients)
  4. Order Password.

The dealer will compare the calling phone number and the information on the account (sub-account) provided:

  1. If the calling phone number and the information provided are correct, please continue to Step 2.
  2. If the calling phone number or the information provided is incorrect, the order will be invalid. Please use the correct phone number and provide correct information according to the instructions of the dealer

Phone number for receiving orders: 076 724 5999

Step 2: When placing an order, please provide clear information about the order type:

  1. Buy/Sell
  2. Stock code, quantity and transaction price.

The dealer will check the validity of the order.

Note: In case you call to Cancel/Modify the order, please provide clear information about the order type:

  1. Cancel/Edit.

  2. Buy/Sell.

  3. Stock code and Reset order information (if any).

The dealer will confirm with the you immediately after completing the order.

(Note: NVS will execute your orders in accordance with the provisions of law and regulations of the Exchanges).

2.2. Instructions for placing online orders

See details here

3. Order matching principle

Price Priority:

  • Buy orders at higher prices are executed first.
  • Sell orders at lower prices are executed first.

Time Priority:

  • In case buy or sell orders have the same price, the order entered into the trading system first will be executed first.

Support Contact Information

During the transaction, if you need support to answer any questions, please contact the hotline: 076 724 5999 (from 8:00 am to 5:00 pm, Monday to Friday every week, except holidays and Tet).