In order to implement Decision 37/2020/QD-TTg dated December 23rd 2020 on establishing, organizing and operating Vietnam Stock Exchange, the Ministry of Finance has drafted the Circular regulating the roadmap for reorganizing the stock trading market, bond trading market, derivative securities trading market and other securities trading market.
The roadmap for reorganizing the bond trading market is specified in Article 5. Rearrangement of the bond trading market is as follows:
1. No later than December 31, 2022, the Hanoi Stock Exchange has agreed to organize a bond trading market in accordance with the Law on Securities and its guiding documents.
2. Before the regulated time specified in Clause 1 of this Article, the Hanoi Stock Exchange and the Ho Chi Minh City Stock Exchange shall organize the bond trading market as follows:
a) The Hanoi Stock Exchange organizes a market for trading Government bonds, government-guaranteed bonds and municipal bonds; organizes the market for trading bonds of listed enterprises; organizes the private issuing corporate bond trading market; receives listed corporate bonds from the Ho Chi Minh City Stock Exchange and receive documents of registration for newly listed bonds.
b) The Ho Chi Minh City Stock Exchange continues to organize a local government bond trading market listed before January 1, 2021 until the maturity date; transfers listed corporate bonds from Ho Chi Minh City Stock Exchange to Hanoi Stock Exchange and not receiving documents of registration for newly listed bonds.
c) No later than December 31, 2021, the Ho Chi Minh City Stock Exchange will complete the transfer of listed corporate bonds from the Ho Chi Minh City Stock Exchange to the Hanoi Stock Exchange.
3. The Vietnam Stock Exchange shall formulate a plan to transfer corporate bonds listed on the Ho Chi Minh City Stock Exchange to the Hanoi Stock Exchange according to the provisions of Point c, Clause 2 of this Article and must report to the State Securities Commission for approval before issuing.
In case before September 30, 2021, the Vietnam Stock Exchange has not come into operation yet, the Ho Chi Minh City Stock Exchange is responsible for developing a plan to transfer corporate bonds listed at the Ho Chi Minh City Stock Exchange to the Hanoi Stock Exchange in accordance with the provisions of Point c, Clause 2 of this Article on the basis of coordination with the Hanoi Stock Exchange and must report to the State Securities Commission for approval before issuing.
Please click here for the full Draft Circular. Please send your comments to VBMA before April 21st, 2021. Thank you!
