Stock Investors Allowed to Open Multiple Accounts, Performing Reverse Trading

On June 1, 2011, the Vietnamese Ministry of Finance issued the Circular No. 74/2011/TT-BTC on new securities transaction regulations which are described to facilitate trading practices and boost up the market liquidity.

 

Accordingly, an investor is allowed to open more than one securities trading accounts at different securities companies instead of only one account at only one securities company at present. He/she must declare the number of accounts and account identity numbers he/she has opened in other companies.

 

In addition, the investor is also permitted to perform reverse trading (buying and selling a stock within the same day). However, reserve trading order is only allowed when he/she completed the previous order for the same stock.

 

However, he/she is not permitted to trade the same stock if his/her orders do not result to a change in his/her ownership on the same day.