The trading band applied for share transactions will be 10 per cent while no daily trading band is applied on bonds.
HASTC Deputy Director Nguyen Vu Quang Trung said "The trading band of 10 per cent, although not really attractive, will help limit market corner transactions."
The minimum allowed transaction volume for unlisted shares traded through HASTC will be 10 shares or bonds, and new shares registered for their first day of transactions will be traded electronically only by the negotiation method, without using a daily trading band.
Similar to the regulation on the official market, investors are allowed to open a single trading account and not permitted to buy and sell shares under the same code within a single session.
Public companies register for trading at the center are also required to publicize information on financial annual report, and information that may have impact on investor interest or securities prices. "This will help reduce risks for investors," HASTC Director Tran Van Dung said.
However, the ministry has still not ratified any regulation on foreign ownership in unlisted shares. The rate is expected at 49 per cent for firms, and 30 per cent for banks.
Specific rules issued by the Ministry of Finance will help create legal framework for the management of the Hanoi bourse on the securities trading market for public companies (UpCoM market) soon.
Vietnam has 1,500 public companies but only 300 of them are listed on the official stock exchanges currently. (Labor, VNS)
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