ASIFMA comments on criteria for upgrading Vietnam’s stock market

(KTSG Online) – The State Securities Commission worked with the World Bank (WB) and the Asian Securities and Financial Markets Association (ASIFMA) to remove some problems related to the criteria for upgrade Vietnam stock market.

VNA quoted information from the State Securities Commission as saying that this agency has just had an online working session with the World Bank (WB) and the Asian Securities and Financial Markets Association (ASIFMA) on the following issues: in the draft Circular amending and supplementing a number of regulations on securities transactions to remove some problems related to the criteria for upgrading the Vietnam stock market.

In addition to the WB, ASIFMA also had representatives of a number of foreign investors such as Citibank and BlackRock participating in the meeting.

Issues discussed include the stock trading system, clearing and settlement of stock transactions, operations of securities companies and information disclosure on the stock market.

At the meeting, the representative of Vietnam Securities Depository and Clearing Corporation (VSDC) presented a number of key points about the payment process according to current regulations and draft regulations on the non-payment process. Deposit requirements before securities transactions for transactions by foreign investors on the Vietnamese stock market.

The content of particular interest to the parties attending the meeting was the issue of pre-transaction deposit, payment processing processes of VSDC, securities companies, and depository members for transactions of securities companies. foreign investment, ability to pay transactions.

The State Securities Commission said that the comments of ASIFMA members at the working session will contribute to helping the management agency complete the draft circular, which sets out regulations on payment processes. more consistent with international practice.