Types of orders on HSX exchange
- It is an order to buy or sell securities at the opening price;
- ATO orders are prioritized over limit orders during order matching;
- The periodic order matching session to determine the opening price will not determine a matching price if there are only ATO orders in the order book;
- ATO orders are entered into the trading system during the periodic order matching session to determine the opening price and will automatically be cancelled after the opening price is determined if the order is not executed or not fully executed.
- It is an order to buy or sell securities at a specified price or better. The order is valid from the time it is entered into the trading system until the end of the trading day or until the order is cancelled.
- Similar to ATO orders but applied during the periodic order matching session to determine the closing price;
- ATO (ATC) orders are prioritized over limit orders during order matching.
- It is an order to buy/sell securities at the lowest ask price/highest bid price currently available in the market;
- When entered into the trading system, a buy MP order will be executed immediately at the lowest ask price and a sell MP order will be executed immediately at the highest bid price currently available in the market. If the order quantity of the MP order is not fully executed, the MP order will be considered a buy order at the next higher ask price or a sell order at the next lower bid price available in the market and continue to be matched;
- If the remaining quantity of the MP order cannot be further matched after trading according to the above principle, the MP order will be converted into a limit buy order at a price one tick higher than the previous last traded price or a limit sell order at a price one tick lower than the previous last traded price;
- If the final execution price is the ceiling price for a buy MP order or the floor price for a sell MP order, the market order will be converted into a limit buy order at the ceiling price or a limit sell order at the floor price;
- MP orders are valid during the continuous order matching session;
- MP orders will be automatically cancelled if there is no corresponding limit order at the time of entry into the trading system;
- For foreign investors’ buy MP orders, if partially matched, the remaining portion will be automatically cancelled if the security reaches its foreign ownership limit (room).
- Only unexecuted orders or the remaining portion of unexecuted orders can be amended or cancelled during the continuous session;
- Orders cannot be amended or cancelled during the periodic opening and closing sessions (including orders carried over from the continuous session);
- Negotiated transactions cannot be cancelled.
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Price priority: Buy orders with higher prices are prioritized for execution. Sell orders with lower prices are prioritized for execution.Time priority: In cases where buy or sell orders have the same price, orders entered into the trading system earlier are prioritized for execution.
For even lots: 100 shares/bonds; Odd lot trading units with a volume from 01 to 99 shares can be executed through both order matching and negotiated transaction methods; No trading unit is specified for negotiated transactions; Negotiated transactions and odd lot transactions are not allowed to be executed on the first trading day of newly […]
Quotation unit for stocks: 100 VND; No quotation unit specified for bonds and negotiated transactions.
The reference price is the volume-weighted average of the transaction prices executed through continuous order matching on the most recent trading day.
