HNX trading regulations

HNX trading regulations

1. Trading hours

hnx trading regulation


2. Order matching methods

  1. Periodic order matching
  2. Continuous order matching
  3. Put-through

3. Execution Principles

  • Price priority
  • Time priority

4. Trading unit

  • Trading unit of order matching in parity lot: 100 shares/bonds/ ETFs
  • Trading volume for stock put-through transactions: 5,000 shares/ETFs or more
  • Trading volume for bond put-through transactions: 1,000 bonds or more
  • No trading unit applied for put-through transactions
  • Odd lot with volume from 1 to 99 stocks/bonds/ETFs are executed by order-matching or put-through
  • Put-through and odd lot transactions are not allowed on first trading day or stocks which are re-traded after being suspended for 25 days or more on its first day of re-trading until closing price established.

5. Price tick:

6. Price range:

  • Price range of stocks is ± 10% of the reference price.
  • Price range applied for newly listed stocks or stocks which are re-traded after being suspended for 25 days or more on its first day of re-trading is ± 30% of the reference price
  • No price range applied for bonds.

7. Reference price:

The reference price is the closing price of stocks on the most recent trading date.

8. Type of orders:

  1. Limit order (LO) is valid till the end of the trading date or at the time of cancellation.
  2. Market order is valid during continuous order matching session
    • Market to Limit (MTL) is similar to MP in HSX
    • Fill or Kill (MOK) order must be filled in its entirely or canceled
    • Fill and Kill (MAK) order can be filled partially and canceled the remaining volume
  3. ATC Order is valid on periodic order matching session

9. Cancellation/Amendment of orders

  • Unmatched or partially – filled orders can be cancelled or amended price/volume
    • Amended volume increase: Order priority is counted at the time of amendment.
    • Amended volume decrease: Order priority remains unchanged
  • Cancellation/ Amendment of orders in periodic order-matching session is not allowed (including orders in previous continuous order matching session)


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