The private corporate bond market was officially launched and put into operation on July 19. After 1 month of operation, the private corporate bond trading system (TPDNRL) at the Hanoi Stock Exchange (HOSE) has been operating safely and smoothly, with technical issues ensured. The market size continues to grow and bond liquidity is maintained.
At the opening time, the market had 19 TPDNRL codes registered for trading. After 1 month, HNX has received and put into trading 12 new TPDNRL codes. Currently, the number of bond codes being traded on the HNX trading system is 31 bond codes of 5 enterprises including: Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV), Vietnam Joint Stock Commercial Bank for Foreign Trade (Vietcombank), VINFAST Production and Trading Joint Stock Company, Industrial and Transport Development Investment Joint Stock Company, and Phan Vu Investment Joint Stock Company. Of which, Vietcombank has the largest registered trading volume of 7,240 billion VND with 15 bond codes.
The scale of bond trading floors continues to grow and bond liquidity is maintained. (Photo: TCH)
Regarding liquidity, by the end of the trading session on August 18, 2023, the total bond trading volume in the whole market reached 23,328,110 bonds, equivalent to a trading value of VND 5,764.9 billion. On average, the trading volume reached 1 million bonds/session, with a trading value of VND 250.6 billion/session.
Of which, the bond with the highest transaction value is Vietcombank bond with VND 3,412,707 billion, followed by BIDV bond with transaction value reaching VND 1,831,655 billion. Up to now, transactions of domestic investors account for 100% of transactions on the market.
The TPDNRL trading membership system currently has 8 member securities companies. Up to now, there are 15 member securities companies and 1 commercial bank completing the procedures to participate in the TPDNRL market.
It can be said that after 1 month of putting TPDNRL into centralized trading on the TPDNRL trading system at Hanoi Stock Exchange, TPDNRL trading activities have been gradually improved towards increasing transparency and reducing risks for investors in TPDNRL trading. Thereby, contributing to promoting liquidity for the TPDNRL market.
At the same time, the primary market will have information and reference conditions for development, creating conditions for businesses to issue and mobilize capital through the market. According to statistics from the corporate bond information website, in June 2023, there were 16 issuances of corporate bonds with an issuance value of VND 7,625 billion, in July there were 32 issuances with an issuance value of VND 28,750 billion, and from the beginning of August 2023 to now, there have been 18 issuances of corporate bonds with an issuance value of VND 29,839 billion.
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