return icon Vietnamnet.vn

Investors to be able to trade stocks on T+2 settlement cycle

According to the new draft, securities will be transferred to investors' accounts within the trading hours of T+2.

Two traders study the market's movements through charts. — Photo baodautu.vn

The Vietnam Securities Depository (VSD) is getting consultations on a draft regulation on clearing and settlement of securities transactions, under the direction of adjusting the payment time for completing the T+2 settlement cycle of the State Securities Commission (SSC).

There have been some changes to the draft. One is that depository members have to confirm whether they have enough money to pay for securities transactions, no later than 4:45pm on the trade date plus one day (T+1).

Another change is the adjustment of time for VSD and clearing banks to complete payment from 3:30pm to 4:00pm to from 11:30am to 12:30pm on T+2.

This is good news for investors, as securities will be transferred to investors' accounts within the trading hours of T+2, meaning that stocks will be in their accounts between 11:30am and 12:30pm of T+2, and investors can trade within the same day, one day earlier than at the moment.

According to current regulations, securities will be transferred to accounts between 3:30-4:00pm on T+2, when the market closes, so investors can only trade new stocks the next day, T+3.

One more change in the draft is that depository members are responsible for immediately distributing money and securities to customers after VSD and clearing banks complete the payment (after 12:00pm) to ensure investors can trade before the closing time.

This is similar to stocks as the money for securities transactions will also be transferred to investors’ account at noon on T+2, and investors can use it in the afternoon trading session on T+2.

The draft also stipulates that depository members shall notify VSD of the results of money and securities allocation to investors no later than 16:30 on T+2.

In addition, VSD also drafted a rule to replace the regulation of depository members, which added some cases of handling violations of regulations on clearing and settlement of securities transactions.

The new regulation on clearing and payment of securities transactions is expected to be applied as of August.

According to a notice sent to participants, VSD is collecting members' opinions on the draft regulation before July 5.

Source: VNS

MORE NEWS

Domestic securities companies face losses

Several deep and prolonged corrections in the stock market of late have caused many domestic securities companies to face heavy losses, after a phase of continuous profit-making.

VIETNAM BUSINESS NEWS AUGUST 12

Vietnam to host Mekong Tourism Forum in October

Five different COVID-19 vaccines put through clinical trials

The vaccines include Nanocovax, COVIVAC, ARCT-154, COVID-19 HIPRA and S – 268019.

VIETNAM NEWS HEADLINES AUGUST 12

Ministry proposes keeping COVID-19 in Group A of infectious diseases

Provincial leaders, finance official face disciplinary action

The Party Central Committee’s Inspection Commission held its 18th session in Hanoi from August 10-11 to discuss wrongdoings by several Party bodies and impose disciplinary measures against the officials involved.

Rise of screen time puts children at high risk of social media addiction

The National Children's Hospital has recently received more child patients with mental illnesses attributed to the increased screen time they spent during the COVID-19 pandemic when outdoor physical social activities were limited.

Transport firms continue to reap high profits as ocean rates fall slowly

Sea freight rates are expected to fall in the second half of 2022, but at a glacial pace, allowing transport firms to reap high profits for another six months, according to experts.

Entry policies could be relaxed as tourism authorities seeks visa waivers

In a bid to boost inbound tourism, Vietnam is considering increasing the number of nationalities eligible for visa exemptions.

2G networks to be phased out from end of 2022

Vietnam is expected to phase out 2G networks by the end of this year given the emergence of new mobile technologies like 5G, according to the Vietnam Telecommunications Authority (VNTA) under the Ministry of Information and Communications.

Industrial Zone land rents rise as big companies flock to Vietnam

Industrial real estate has shown positive signs after the country began reopening international air routes. However, higher leasing fees are a concern.

Transport ministry clamps down on taxi drivers overcharging at Tan Son Nhat Airport

The Ministry of Transport has announced a plan to strengthen inspection and crack down on taxi drivers' illegal practices, such as enticing passengers, overcharging or refusing to take passengers at Tan Son Nhat International Airport in HCM City.

Education investment dips increasingly into edtech

Despite the influx of investment and the rapid pace of development, at the moment, there is no specific legal framework for edtech under Vietnamese law.

Automobile sale strongly rebounds in 7 months

Automobile sales in Vietnam posted a month-on-month increase of 20% and a year-on-year surge of 88% in July, the Vietnam Automobile Manufacturers’ Association (VAMA) reported on August 11.

Authorities warn transport companies on fare prices

Fuel prices have fallen back to the pre-January level, but many transport firms still refuse to adjust their fares, according to authorities.

Hanoi handles over 700 long-stalled projects

Hanoi City has reviewed and handled over 700 long-delayed projects covering a total area of more than 5,000 hectares to speed up the investment in and completion of the projects and avoid a waste of land.
back_to_top