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The Prime Minister has just issued Decision No. 37/2020 / QD-TTg to establish the Vietnam Stock Exchange (Vietnam Stock Exchange) according to the parent-subsidiary model based on the reorganization of the Ha. Noi Stock Exchange ( HNX) and the Ho Chi Minh City Stock Exchange (HoSE).
Consequently, Vietnam Exchange, with a registered capital of VND 3 billion, is a parent company organized on the model of a one-member limited liability company with 100% of the capital stock held by the State. The abbreviated name VNX is VNX, the head office is located in Hanoi and it owns 100% of the share capital of 2 departments of HNX and HoSE. This Decision comes into force as of February 20, 2021.
VNX has the objective of formulating strategies, investment plans for development, commercial and production plans for 5 years and annually; Develop and issue regulations on listing, securities trading, and publication of information; Manage and supervise 2 Transaction Offices in accordance with the law; Inform and propose to the State Securities Commission of measures to respond and overcome incidents, events and fluctuations that affect the security, stability and integrity of the Vietnam stock market, International cooperation in securities and stock market with stock exchanges throughout world …
A noteworthy point in the Prime Minister’s decision is to assign the main tasks of the HNX and HoSE.
Inside, The HNX will be responsible for organizing and operating the derivatives stock market and the bond trading market. and the market for other types of securities transactions in accordance with the law. While, The HoSE will be responsible for organizing and operating the stock market. and the market for transactions of other types of securities in accordance with the law.
In addition, HoSE and HNX will have other functions, such as monitoring securities transactions; monitor the information disclosure activities of the listed organizations; Invest, develop technological systems, develop new products according to assigned tasks; Warn, control and restrict securities transactions in accordance with the law; Suspension or suspension of transactions for one or more securities in the event that the price or volume of securities transactions fluctuate; Approve, change or cancel the listing and registration of securities transactions; Provision of bidding and auction services; Report to the Vietnam Stock Exchange, to propose to the State Securities Commission to handle trade violations …
According to Business and Marketing
