3. UPCOM |
TRANSACTION TIME |
Continuous order matching I and put-through |
9h00 – 11h30 |
Break |
11h30 – 13h00 |
Continuous order matching II and put-through |
13h00 – 15h00 |
TRADING METHOD |
Continuous order matching method |
Put-through method |
PRINCIPAL OF ORDER MATCHING |
Price precedence |
- The buying order with highers price shall take precedence |
- The selling order with lower price shall take precedence |
Time precedent |
In case, multiple selling and buying orders of the same price, the order which is entered into the trading system first shall take precedence |
TRADING UNIT |
Even-lot, bonds |
- Trading unit of even-lot: 100 shares / ETFs |
- There is no trading unit applicable for put-through transactions |
Odd-lot |
- Trading unit of odd-lot: 01 – 99 shares / ETFs |
- Odd-lot is executed by either continuous order matching or put-through |
Put-through and odd-lot transactions cannot be executed on the first trading date of newly listed stocks nor on the first trading day after a session of 25 day suspension until closing prices of the stocks are determined. |
PRICE TICK |
- Matching orders of stock: 100 VND |
- Bonds and put-through transaction: no price tick |
PRICE RANGE |
Stocks |
Price range of: ±10% against reference price |
Bonds |
No price range |
Stocks and ETFs that are newly listed for trading or are available for trading after more than 25 days of suspension: ± 40% against reference price |
REFERENCE PRICE |
Reference price is calculated using the weighted average method in which prices of transactions are executed in the continuous order matching sessions in the previous day. |
TYPES OF ORDERS |
Limit order (LO) |
LO is an order to buy or sell securities at a predetermined price or better price. An LO shall be effective since it is placed into the trading system until the close of the trading day or until the rescission of the order |
ORDER CANCELLATION AND AMENDMENT |
In continuous order matching session |
Limit orders can be cancelled, and theirs price and volume can be amended. The priority of orders is determined as follows: |
- Order priority will not change if volume is decreased. |
- New order priority will be established right after volume is increased and/ or price amendments of existing orders are entered into system. |
Amendment of price and volume and cancellation of orders can only be carried out when an order or a part of that order has not been executed. |
PAYMENT PERIOD |
Stocks |
T+2 |
Bonds |
T+1 |