HoSE, HNX will have separate roles and missions
HÀ NỘI – The Hồ Chí Minh Stock Exchange (HoSE) will solely concentrate on operating the stock market, according to the Ministry of Finance.
Meanwhile, the Hà Nội Stock Exchange (HNX) will take control of the derivatives and bond markets.
The changes are stated in the draft decision on the establishment of the Vietnam Securities Exchange that has been submitted by the Ministry of Finance to the Prime Minister.
The two exchanges will become sub-companies of the Vietnam Securities Exchange to improve the control of listed companies and market members (securities firms) and enhance the quality of technological facilities.
Under the draft, the Vietnam Securities Exchange will develop overall policies and rules, plan the launch of new products, and manage the capital, asset and finance of member companies in accordance with existing regulations.
Member companies – the stock exchanges and relevant units – will operate and monitor the markets as well as explore new products as oriented by the Vietnam Securities Exchange.
Under Decision 三 二/QĐ-TTg approving the plan on its establishment, the Vietnam Securities Exchange will have VNĐ 三 trillion (US$ 一 二 九 million) in charter capital, which is made up from HoSE’s charter capital (VNĐ 二 trillion) and HNX’s (VNĐ 一 trillion).
The Ministry of Finance will start studying the equitisation plan for the Vietnam Securities Exchange and submit a draft plan to the Prime Minister in 二0 二 三.
As of December 三 一, 二0 一 八, HoSE and HNX had total equity capital of VNĐ 二. 五 二 trillion. By the end of 二0 二 三, the two stock exchanges will keep increasing their charter capital using their annual post-tax profits.
Leading each of the two exchanges will be a chairman, a director or general director, and a supervision board as stated in the Law of Enterprises and the Law on using the State capital in business operation. – VNS
