{"id":1758,"date":"2025-09-24T15:34:52","date_gmt":"2025-09-24T08:34:52","guid":{"rendered":"https:\/\/sbsc.com.vn\/ho-tro\/hnx-trading-regulations\/"},"modified":"2026-03-10T08:35:22","modified_gmt":"2026-03-10T01:35:22","slug":"hnx-trading-regulations","status":"publish","type":"ho-tro","link":"https:\/\/sbsc.com.vn\/en\/support\/hnx-trading-regulations\/","title":{"rendered":"HNX trading regulations"},"content":{"rendered":"

1. Trading Hours<\/strong><\/p>\n

\n\n\n\n\n\n\n\n\n
Trading Hours<\/td>\nOrder Types<\/td>\nTrading Sessions<\/td>\n<\/tr>\n
09h00 \u2013 11h30<\/td>\n\u00a0LO, MTL, MOK, MAK<\/td>\nContinuous Matching I<\/td>\n<\/tr>\n
11h30 \u2013 13h00<\/td>\n<\/td>\nMid-Session Break<\/td>\n<\/tr>\n
13h00 \u2013 14h30<\/td>\nLO, MTL, MOK, MAK<\/td>\nContinuous Matching II<\/td>\n<\/tr>\n
14h30 \u2013 14h45<\/td>\nATC, LO<\/td>\nPeriodic Auction Matching<\/td>\n<\/tr>\n
14h45 \u2013 15h00<\/td>\nPLO<\/td>\nContinuous Matching<\/td>\n<\/tr>\n
09h00 \u2013 15h00<\/td>\n<\/td>\nPut-through<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

2. Order Matching Methods<\/strong><\/span><\/p>\n

Periodic Auction Matching:<\/strong><\/span>
A trading method in which buy and sell orders are matched at a specified time based on the aggregated orders in the system.<\/span><\/p>\n

Continuous Matching:<\/strong><\/span>
A trading method whereby buy and sell orders are matched immediately upon entry into the trading system.<\/span><\/p>\n

Negotiated (Put-through) Transactions:<\/strong><\/span>
A trading method in which trading members mutually agree on the terms and conditions of the transaction.<\/span><\/p>\n

3. Order Matching Principles<\/strong><\/span><\/h3>\n

Price Priority<\/strong><\/span><\/p>\n

    \n
  • \n

    Buy orders with higher prices<\/strong> are executed before those with lower prices.<\/span><\/p>\n<\/li>\n

  • \n

    Sell orders with lower prices<\/strong> are executed before those with higher prices.<\/span><\/p>\n<\/li>\n<\/ul>\n

    Time Priority<\/strong><\/span><\/p>\n

      \n
    • \n

      Where buy or sell orders have the same price<\/strong>, the order entered earlier into the trading system<\/strong> shall receive execution priority.<\/span><\/p>\n<\/li>\n<\/ul>\n

      4. Trading Unit<\/strong><\/span><\/h3>\n
        \n
      • \n

        Standard lot:<\/strong> 100 shares \/ fund certificates.<\/span><\/p>\n<\/li>\n

      • \n

        Put-through transactions:<\/strong> Minimum of 5,000 shares<\/strong>.<\/span><\/p>\n<\/li>\n<\/ul>\n

        Odd-lot transactions with volumes from 01 to 99 shares or fund certificates<\/strong> may be executed through continuous matching or negotiated transactions<\/strong>.<\/span><\/p>\n

        Put-through transactions and odd-lot transactions are not permitted on the first trading day of newly listed shares<\/strong>.<\/span><\/p>\n

        5. Price Quotation Unit (Tick Size)<\/strong><\/span><\/h3>\n
          \n
        • \n

          Order-matching transactions (shares):<\/strong> VND 100<\/strong>.<\/span><\/p>\n<\/li>\n

        • \n

          Put-through transactions (shares):<\/strong> VND 1<\/strong>.<\/span><\/p>\n<\/li>\n<\/ul>\n

          6. Price Fluctuation Limits<\/strong><\/span><\/h3>\n
            \n
          • \n

            Shares:<\/strong> \u00b1 10%<\/strong> compared to the reference price.<\/span><\/p>\n<\/li>\n

          • \n

            Shares and fund certificates on the first trading day<\/strong>, or the first trading day after a suspension of more than 25 days:<\/strong> \u00b1 30%<\/strong> compared to the reference price.<\/span><\/p>\n<\/li>\n<\/ul>\n

            7. Reference Price<\/strong><\/span><\/h3>\n

            The reference price<\/strong> is determined as the closing price of the immediately preceding trading day<\/strong>.<\/span><\/p>\n

            8. Order Types<\/strong><\/span><\/h3>\n

            Limit Order (LO):<\/strong><\/span>
            Valid from the time it is entered into the trading system until the end of the closing periodic auction session<\/strong> or until the order is cancelled.<\/span><\/p>\n

            Market Orders<\/strong> may only be entered during the continuous matching session<\/strong>.<\/span><\/p>\n

              \n
            • \n

              Market-to-Limit Order (MTL):<\/strong><\/span>
              Functions similarly to the MP order<\/strong> on the Ho Chi Minh Stock Exchange<\/span><\/span>.<\/span><\/p>\n<\/li>\n

            • \n

              Market Order \u2013 Fill or Kill (MOK):<\/strong><\/span>
              A market order that is automatically cancelled if it cannot be fully executed<\/strong> upon entry into the trading system.<\/span><\/p>\n<\/li>\n

            • \n

              Market Order \u2013 Immediate or Cancel (MAK):<\/strong><\/span>
              A market order that may be partially or fully executed<\/strong>; any unfilled portion will be immediately cancelled<\/strong> after matching.<\/span><\/p>\n<\/li>\n<\/ul>\n

              ATC Order (At-the-Close Order):<\/strong><\/span>
              Valid during the closing periodic auction session<\/strong>.<\/span><\/p>\n

               <\/p>\n

              PLO Order (Post-Limit Order)<\/strong><\/span><\/h3>\n
                \n
              • \n

                A buy or sell order placed at the closing price<\/strong> after the closing periodic auction session.<\/span><\/p>\n<\/li>\n

              • \n

                PLO orders may only be entered during the after-hours trading session<\/strong>.<\/span><\/p>\n<\/li>\n

              • \n

                PLO orders are matched immediately<\/strong> upon entry if a corresponding counter order is available. The execution price is the closing price of the trading day<\/strong>.<\/span><\/p>\n<\/li>\n

              • \n

                PLO orders cannot be amended or cancelled.<\/strong><\/span><\/p>\n<\/li>\n

              • \n

                If the continuous matching session or closing periodic auction session fails to determine an execution price<\/strong>, PLO orders cannot be entered into the system.<\/span><\/p>\n<\/li>\n

              • \n

                At the end of the after-hours trading session<\/strong>, any unexecuted PLO orders or remaining portions of such orders will be automatically cancelled<\/strong>.<\/span><\/p>\n<\/li>\n<\/ul>\n

                9. Order Amendment \/ Cancellation<\/strong><\/span><\/h3>\n

                Order amendments (price or quantity) and cancellations are only applicable to orders that have not yet been executed or to the unfilled portion of partially executed orders<\/strong>.<\/span><\/p>\n

                During the Continuous Matching Session:<\/strong><\/span><\/p>\n

                Limit orders may be amended (price or quantity) or cancelled<\/strong> during the trading session. Order priority after amendment is determined as follows:<\/span><\/p>\n

                  \n
                • \n

                  Priority remains unchanged<\/strong> if only the order quantity is reduced<\/strong>.<\/span><\/p>\n<\/li>\n

                • \n

                  Priority is recalculated from the time the amended order is entered<\/strong> into the trading system in cases where the order quantity is increased and\/or the price is amended<\/strong>.<\/span><\/p>\n<\/li>\n<\/ul>\n

                  During the Closing Periodic Auction Session (ATC):<\/strong><\/span><\/p>\n

                    \n
                  • \n

                    LO and ATC orders cannot be amended or cancelled<\/strong>, including LO orders carried forward from the continuous matching session.<\/span><\/p>\n<\/li>\n<\/ul>\n

                    During the After-Hours Trading Session:<\/strong><\/span><\/p>\n

                      \n
                    • \n

                      PLO orders cannot be amended or cancelled.<\/strong><\/span><\/p>\n<\/li>\n<\/ul>\n","protected":false},"template":"","danh-muc-ho-tro":[213],"class_list":["post-1758","ho-tro","type-ho-tro","status-publish","hentry","danh-muc-ho-tro-trading-regulations"],"acf":[],"yoast_head":"HNX trading regulations - SBS Securities Joint Stock Company (SBS)<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbsc.com.vn\/en\/support\/hnx-trading-regulations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HNX trading regulations - SBS Securities Joint Stock Company (SBS)\" \/>\n<meta property=\"og:description\" content=\"1. 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