VSD Adjusts Settling and Clearance Mechanism to Launch T+3 Trading From September 4
CEO of Vietnam Securities Depositary (VSD) on August 15 issued Decision No 148/QD-VSD adjusting settling and clearance system to shorten settlement time to 9:00 of T+3 day instead of 15:00 T+3.
Transaction error fixing: VSD will receive transaction result confirm and fixing transaction errors by 8:30 on T+2 instead of by 10:00 currently; documents of share transfer and borrow to fix transaction mistakes will be received at the latest of 10:00 on T+2.
Default: VSD moves the deadline for fixing balance at clearing banks by 16:00 on T+2 instead of current 11:00 on T+3 for shares. After this time, if VSD’s member failed to pay, they will be considered default.
Payment delete: members must send confirmation of transaction leading to default by 16:30 the day before settling day. VSD will delete transactions that cause default. If VSD’s members do not send documents, VSD will automatically delete transactions related to default.
Category: Stocks
