According to the Hanoi Stock Exchange (HNX), after more than two months of operation of the trading platform for private placement corporate bonds (since July 19), as of October 2, the total trading volume on the trading platform for private placement corporate bonds has surpassed 83 million corporate bonds, with a total trading value of approximately VND22 trillion.
Among these, corporate bonds with high trading values include Vinfast with over VND8.4 trillion, Vietcombank with nearly VND5.9 trillion, and BIDV with over VND3.9 trillion. In contrast, other corporate bond codes, such as Tracodi and Masan, have relatively lower trading values.
At present, the average trading value on the trading platform for private placement corporate bonds is roughly VND265 billion per session, equivalent to more than 1.5 million corporate bonds per session. While this trading volume is still relatively modest when compared to the overall corporate bond market, it has shown promising results during the initial operational period. The platform's trading scale is anticipated to experience substantial growth once all remaining outstanding private placement corporate bonds are listed.
Government Decree 65/2022 governs the issuance and trading of private placement corporate bonds in the domestic market, as well as the issuance of corporate bonds to the international market. It specifies that, within a 3-month period from the commencement of the official operation of the registration, depository, and trading system for private placement corporate bonds, any bonds issued under this decree and Decree No.153/2020 that remain unpaid must undergo registration, deposit, and trading registration.
Accordingly, October 19, 2023, is the deadline by which all businesses must list their bonds on the centralized trading platform. According to Government Decree 156/2020 on the imposition of administrative penalties in the securities and stock market sector, failing to register or list securities or registering and listing securities beyond the prescribed deadline, depending on the duration of the delay, ranging from one to more than 12 months, may result in fines ranging from VND10 million to VND400 million. Additionally, supplementary fines may be imposed based on the severity of the violation.
Securities companies forecast that after the trading platform for private placement corporate bonds has been in operation for a full three months, by the end of October 2023, all remaining outstanding private placement corporate bonds will be required to register and deposit, and their trading will have to be conducted through the platform, leading to a surge in liquidity. It is anticipated that around 1,600 private placement corporate bond codes will be listed and traded on the trading platform for private placement corporate bonds.
