ANTD.VN - The total number of newly opened securities accounts in October was 167,659 accounts, but the number of closed accounts was up to 545,386 accounts.
Vietnam Securities Depository and Clearing Corporation (VSDC) has just announced the number of securities trading accounts of domestic and foreign investors as of October 31, 2023 under management on VSDC's system.
Specifically, the number of domestic trading accounts reached 7,400,592 accounts, of which, individual investor accounts were 7,384,707 accounts; institutional investor accounts were 15,885 accounts.
The number of foreign trading accounts reached 44,952, of which 40,429 were individual investor accounts; 4,523 were institutional investor accounts.
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Number of closed securities accounts surged in October |
Notably, information from VSDC shows that in October, the total number of newly opened accounts was 167,659 accounts, but the number of closed accounts was up to 545,386 accounts.
The surge in closed accounts has caused the total number of securities accounts nationwide to drop sharply, from more than 7.8 million accounts at the end of September to only 7.45 million accounts currently.
According to VSDC, the largest number of closed accounts was at MB Securities Joint Stock Company (MBS), up to 543,753 accounts. The remaining 1,633 accounts were closed at other securities companies.
“Through discussions with MBS, VSDC learned that MBS is currently in the process of reviewing the list of accounts opened at MBS and proactively closing previously opened accounts that have not generated any transactions,” VSDC said.
In fact, the situation of securities accounts being opened but not making any transactions is quite common. In the middle of last year, the Vietnamese stock market recorded a spike in the number of newly opened accounts to nearly half a million accounts per month.
Experts say the reason for the sudden increase in the number of newly opened accounts is due to the policy at banks, opening securities accounts for customers who open bank accounts at that bank.
Firms closing inactive securities accounts may be a “data cleansing” move.
In mid-October, the Government requested the State Securities Commission to connect with the national population database to clean up data on securities trading participants.
Accordingly, in November, securities companies will have to compare user information to ensure matches and eliminate incorrect, duplicate or virtual data.
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