HCMC – Prime Minister Nguyen Xuan Phuc has signed a decision to establish the Vietnam Exchange (VNX), which will regulate and supervise two stock exchanges in Hanoi and HCMC.
The decision will take effect on February 20, 2021, the local media reported.
VNX, which will be headquartered in Hanoi and have charter capital of VND3 trillion, will run as a single-member limited liability company whose entire charter capital is held by the State. It will hold all the charter capital of the Hanoi and HCMC stock exchanges.
The exchange will build investment and development plans and strategies, issue regulations on listing and trading shares and information publication, manage and supervise the two bourses in line with the law, propose solutions to respond to incidents and fluctuations affecting the safety and stability of the Vietnamese stock market to the State Securities Commission of Vietnam and boost international cooperation in stock trading.
Under the decision, the Hanoi Stock Exchange (HNX) will be responsible for organizing and operating the derivatives and bond markets and the market of other kinds of securities.
Meanwhile, the Hochiminh Stock Exchange (HOSE) will take charge of trading stocks and other kinds of securities.
Both HoSE and HNX will supervise the stock transaction and information disclosure of listing firms; develop new technology and products; control stock transactions; suspend the trading of certain stocks; approve, change or cancel the listing of firms; provide bidding services; make reports to VNX and propose the State Securities Commission of Vietnam address violators.