Quyết định 50/2003/QD-BTC

DECISION

AMENDING AND SUPPLEMENTING A NUMBER OF ARTICLES OF THE REGULATION ON SECURITIES MEMBERSHIP, LISTING, INFORMATION DISCLOSURE AND TRADING, ISSUED TOGETHER WITH DECISION No. 79/2000/QD-UBCK OF DECEMBER 29, 2000 OF THE CHAIRMAN OF THE STATE SECURITIES COMMISSION

THE MINISTER OF FINANCE

Pursuant to the December 25, 2001 Law on Organization of the Government;
Pursuant to the Government's Decree No. 48/1998/ND-CP of July 11, 1998 on securities and securities market;
Pursuant to the Prime Minister's Decision No. 127/1998/QD-TTg of July 11, 1998 on the establishment of the Securities Trading Center;
Pursuant to the Government Office's Official Dispatch No. 1046/VPCP-KTTH of March 10, 2003 amending Decision No. 79/QD-UBCK and Decision No. 05/QD-UBCK;
At the proposal of the Chairman of the State Securities Commission,

DECIDES:

Article 1.- To amend and supplement a number of articles of the Regulation on securities membership, listing, information disclosure and trading, issued together with Decision No. 79/2000/QD-UBCK of December 29, 2000 of the Chairman of the State Securities Commission, as follows:

1. To add Clause 20 to Article 2 as follows:

20. Trading orders at order-matching prices (ATO) mean securities-buying or -selling orders without offering prices in advance, which are placed by an investor for his/her broker to execute at the order-matching prices.

2. Article 46 is amended as follows:

1. Trading orders processed by the order-matching mode include limit orders and ATO entered into the trading system at the Securities Trading Center by members' trading representatives.

2. It is not allowed to cancel orders entered into the trading system at the same order-matching drive.

3. It is allowed to cancel the remainder of the original orders or the original orders which have not yet been executed at the preceding order-matching time.

4. Orders entered into the system shall be valid till the end of the trading day.

5. Trading representatives are allowed to correct orders when incorrectly entering customers' trading orders but must produce the original orders, and such correction must be approved by the Securities Trading Center. The correction of trading orders shall be valid only when the original orders have not yet been executed or the remainder of the original orders has not yet been executed.

3. Clause 1 of Article 48 is amended as follows:

The trading units effect the order-matching mode as follows:

a/ Shares: 10 shares

b/ Bonds: 10 bonds

c/ Investment fund certificates: 10 certificates.

4. Item b, Clause 3 of Article 49 is amended as follows:

For newly listed securities, on the first trading day the Securities Trading Center shall receive only limit orders, not apply price fluctuation range and match orders only once. If, in the first order matching there is no order-matching price, it is allowed to receive the next orders in the subsequent order-matching drive. Prices of this order-matching time shall serve as the reference price for the succeeding trading day. Price fluctuation range shall apply as from the succeeding trading day.

5. Clause 1 of Article 57 is amended as follows:

When securities selling orders are placed, customers must have full volume of securities ordered to sell on securities accounts opened at members. When securities-buying orders are placed, the cash balance of accounts opened by customers at members must satisfy the requirement that the deposit is equal to at least 70% of the value of securities ordered to buy.

Article 2.- This Decision takes implementation effect 15 days after its publication on the Official Gazette. All the previous regulations contrary to this Decision shall be no longer effective.

Article 3.- The Chairman of the State Securities Commission, the manager of the Securities Trading Center and the heads of the concerned units shall have to implement this Decision.