Saturday , July 13 2024

Ministry of Finance to release final draft circular on stock market upgrades

Expected in the second week of July, the draft will be published on the Ministry’s and the State Securities Commission’s websites. According to experts, the new regulations are both suitable and feasible.

The Ministry of Finance is expected to announce this week the final draft of the circular related to upgrading the stock market. — Photo baochinhphu.vn

HÀ NỘI — The Ministry of Finance is set to announce the final draft of a circular related to the upgrade of Việt Nam’s stock market and operate the Korea Exchange (KRX) system this week.

This follows the collection of feedback from various stakeholders on amendments to four key regulations concerning trading, registration, depository, clearing, securities company operations and information disclosure.

Expected in the second week of this month, the draft will be published on the ministry’s and the State Securities Commission’s websites. According to experts, the new regulations are both suitable and feasible.

The Ministry of Finance has been in regular contact with market stakeholders, including securities companies and depository banks, to ensure they are prepared for the new regulations. It has also actively engaged with international rating agencies and large investors to highlight the Government’s commitment and the specific measures being implemented.

Additionally, relevant ministries, such as the State Bank of Vietnam and the Ministry of Planning and Investment, are also working on solutions as directed by the Government.

Regarding the KRX system, the Hồ Chí Minh Stock Exchange (HOSE), in collaboration with the Hà Nội Stock Exchange (HNX), the Vietnam Securities Depository and Clearing Corporation (VSDC) and contractor KRX, is finalising technical infrastructure and legal documents. They are also conducting thorough testing to ensure the system’s readiness for operation. — VNS

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