Record corporate bond trading, 10.4 trillion VND/day
According to a report from the Hanoi Stock Exchange (HNX), after 1 year of operation, the individual corporate bond trading system has been operating in accordance with the provisions of Decree 65.
At the time of opening, the market had 19 individual corporate bond codes of 3 issuers registered for trading with a total registered trading value of VND 9,060 billion.
Ms. Vu Thi Thuy Nga, Deputy General Director of HNX. (Photo: SSC)
After one year, 1,146 bond codes of 301 enterprises have been received and put into trading on the individual corporate bond trading system with a registered trading value of nearly VND 832,189.4 billion.
The system of individual corporate bond trading members has also grown rapidly from 8 members at the market opening day to 48 members today.
Ms. Vu Thi Thuy Nga, Deputy General Director of HNX said: In particular, the liquidity of individual corporate bonds has improved significantly, with the average trading value in the first month of the market opening reaching VND250.6 billion/session.
After 1 year, the average transaction value of individual corporate bonds reached 3,704.5 billion VND/session, mainly focusing on investors such as credit institutions (38.3%) and securities companies (nearly 32%).
On the other hand, the development of the secondary market for individual corporate bonds also creates favorable conditions for enterprises to mobilize capital in the primary market, contributing to promoting the development of the primary market for individual corporate bonds in a healthier and more sustainable manner.
In the domestic market, from July 19, 2023 to July 19, 2024, there were 167 successful issuances with a value of VND 393,892.6 billion.
Meanwhile, Mr. Duong Ngoc Tuan, Deputy General Director of Vietnam Securities Depository and Clearing Corporation (VSDC), said that as of the end of September, the number of investor accounts was 190,826, including 190,034 individual investor accounts. The payment value was over 3 trillion VND/day, of which June 11, 2024 had the largest payment value of over 10.4 trillion VND.
In the first year of operation, VSDC registered more than 1.47 billion bonds for the first time, equivalent to nearly 900 trillion VND; exercised rights for 1,400 codes/bond batch, equivalent to nearly 96.5 trillion VND.
There needs to be a fundamental solution to control the quality of TPDN.
Ms. Vu Thi Chan Phuong, Chairwoman of the State Securities Commission (SSC), said that in the coming time, units managing the corporate bond trading system need to continue to improve the quality of goods in the market by improving the quality of issuing organizations.
Ms. Vu Thi Chan Phuong, Chairwoman of the State Securities Commission. (Photo: SSC)
The Chairman of the State Securities Commission said that it is necessary to have a fundamental solution to control the quality of corporate bonds by promoting the application of credit ratings for corporate bond issuers; considering raising the conditions for issuing corporate bonds to minimize the possibility that many newly established enterprises that have not yet operated or have been established but have not operated can issue corporate bonds with a scale many times larger than their equity.
At the same time, management units continue to improve the quality of investors towards attracting professional investors in the financial sector, financial investors, and foreign institutional investors.
Close coordination between policy-making agencies, supervisory organizations, and market members in proposing solutions and initiatives to promote sustainable and healthy market development, and resolve difficulties, problems, and obstacles in market operations.
The Chairman of the State Securities Commission also proposed considering promoting standardization, researching, developing and applying a set of standard conditions and model terms for corporate bonds, referring to international experience and practices to resolve the current situation of bonds with many different conditions and terms.
“Management units need to study and encourage the development of an ecosystem for the market through developing and improving the quality of service providers and market intermediaries such as consulting organizations, underwriting organizations, and credit enhancement organizations,” said the Chairman of the State Securities Commission.
On the part of the State Securities Commission, this unit will continue to strengthen the management and supervision of securities trading organizations participating in providing services in the market; strictly punish violations of securities trading organizations as well as violations of issuing organizations according to the supervision results of HNX.
At the same time, the State Securities Commission will actively coordinate with relevant agencies, units and organizations in implementing solutions and proposals for market development; we will accompany the Stock Exchanges, VSDC, and market members in the effort to develop the Vietnamese corporate bond market to be increasingly sustainable and safe, contributing to the socio-economic development of the country.
Source: https://www.congluan.vn/xuat-hien-ky-luc-giao-dich-thanh-toan-trai-phieu-doanh-nghiep-dat-104-nghin-ty-dong-ngay-post308171.html
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