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HNX: Some changes on Trading Regulations on HNX Listed stock market from 26/03/2012
Some changes on Trading Regulations on Listed stock market on the Hanoi Stock Exchange from 26/03/2012
From 26/03/2012, Trading Regulations at the Hanoi Stock Exchange attached to Decision No.54/QĐ-SGDHN dated 05/03/2012 comes into effect. There are some changes need to be noted in this Trading Regulations.
1. Investors can trade odd-lots on the trading system of the HNX
Investors can trade odd-lots (from 1 to 99 shares) on the trading system of the HNX via negotiation.
Order placing is the same as that of conventional negotaion.
2. Reference price of listed stocks
Reference price of a stock is the base price of the most recent trading day. Base price is the average weighted price of executed orders for the last 15 minutes of the trading day via the continuous order matching method. In case there is no transaction for the last 15 minutes of the trading day, base price is the price of the last executed order of the trading day via continuous order matching method.
3. Adjusting ceiling and floor prices in some special cases of reference price
- In case ceiling price and floor price are equal to reference price:
o Adjusted ceiling price = Reference price + 01 tick value (VND100)
o Adjusted floor price = Reference price - 01 tick value (VND100)
- In case reference price is VND100:
o Adjusted ceiling price = Reference price + 01 tick value (VND100)
o Adjusted floor price = Reference price
4. In case listed companies want to repurchase shares for treasury stock or sell treasury shares:
Trading volume relating to share repurchase/sale of treasury shares:
- During each trading day, the listed company is allowed to place buy/sell order with the minimum volume of 3% and maximum volume of 5% of total expected treasury shares (excluding the volume cancelled by the listed company).
- In case the listed company wants to trade more than 5% of the total expected volume or trade in big lot via negotiation, they must gain approval from the HNX.
- In case the remaining of expected volume is less than 3%, the listed company is allowed to trade less than the minimum of 3%.
Collar:
- Highest bid/ask price = reference price + (Reference price x 50% collar of the trading day)
- Lowest bid/ask price = reference price - (Reference price x 50% collar of the trading day)
Change in share repurchase/sale of treasury shares plan:
- The listed company is not allowed to change the plan on share repurchase or sale of treasury shares which has been reported and disclosed. In case of force majeur, the company must report to the State Securities Commission (SSC) and get the approval from the SSC at least 03 days before the change.
- The listed company has to announce the reasons for the change on mass media, and report to the SSC within 24 hours since the decision on changing the share repurchase or sale of treasury shares plan is approved by the company.
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