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HoSE to provide odd-lot trading starting from June
Investors will likely be able to perform odd-lot trading on the southern bourse starting from June after all necessary tests are completed.
An odd lot refers to an order amount lower than the normal unit of trading. Trading a number of shares from 1 to 99 is classified as odd lot trading.
Speaking on national television, Phạm Hồng Sơn, Vice Chairman of the State Securities Commission (SSC), said that SSC has directed the introduction of odd-lot trading.
The Hồ Chí Minh Stock Exchange (HoSE) is working with securities companies to test the system and will complete it next week.
After everything is accomplished, investors will likely be able to trade odd lots from early June.
Last week, HoSE asked member securities companies to test odd-lot trading from May 9 to 20. After the testing period, securities firm must submit their reports before May 25.
From the beginning of 2021, in order to minimise order congestion on stock exchanges, the regulator required all three exchanges – HoSE, the Hà Nội Stock Exchange (HNX) and UPCoM – to apply lots of 100 units, meaning that investors have to trade at least 100 shares, and they must be a multiple of 100.
With the odd-lot trading feature on HoSE, investors can only place orders to sell directly if securities firms provide this service.
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