What is the price of member management services in the securities sector in Vietnam? What are the time limits for collection of periodic fees?
- What are the prices of member management services in the securities sector in Vietnam?
- What are the regulations on the price of member management services of the Stock Exchange?
- What are the time limits for collection of periodic membership management service fees?
- Is the service price in the securities sector required to be paid in Vietnamese Dong?
What are the prices of member management services in the securities sector in Vietnam?
Pursuant to the provisions of Article 3 of Circular No. 101/2021/TT-BTC on the price of member management services in the securities sector as follows:
Prices of securities services rendered by Stock Exchanges and Vietnam Securities Depository and Clearing Corporation
1. The prices of securities services rendered by stock Exchanges (SEs) and Vietnam Securities Depository and Clearing Corporation (VSDC) are elaborated in the Price Schedule and the Appendix enclosed herewith.
2. Prices of securities services prescribed herein are not subject to value-added tax in accordance with regulations of the Law on value-added tax and its amendments (if any).
3. SEs and VSDC shall themselves decide the prices of their services which are not specified in the Price Schedule enclosed herewith in conformity with their provision of such services and in accordance with regulations of the Law on pricing, the Law on securities and relevant laws, and shall assume responsibility for their decision.
4. SEs and VSDC must post and publish their prices of services and comply with regulations of the Law on pricing, the Law on securities and relevant guiding documents.
5. Trading service price payable by market makers may be reduced by up to 80% of the corresponding price specified in Point 4 Section II Part A of the Price Schedule and up to 70% of the corresponding price specified in Point 3 Section II Part B of the Price Schedule after they have fulfilled their market-making obligations in accordance with regulations of law and specific requirements imposed by competent authorities.
6. Listing service price in Point 2 Section II Part A of the Price Schedule, price of securities listing management in Point 3 Section II Part A of the Price Schedule, trading service price in Point 4 Section II Part A of the Price Schedule, price of securities registration/partial securities deregistration in Point 12 Section III Part A of the Price Schedule and securities depository service price in Point 13 Section III Part A of the Price Schedule enclosed herewith charged to issuers and buyers of green bonds as prescribed in the Law on Environmental Protection and its guiding documents shall be reduced by 50%.
Thus, subsection 1, Section I, Part A of the schedule of prices of securities services attached to Circular No. 101/2021/TT-BTC stipulating the price of member management services is VND 20 million/year, applied to all members regardless of membership levels on each specific market (shares, bonds, fund certificates or covered warrants)
What is the price of member management services in the securities sector in Vietnam? What are the time limits for collection of periodic fees?
What are the regulations on the price of member management services of the Stock Exchange?
Pursuant to the provisions in subsection 1, Section A of the Appendix issued together with Circular No. 101/2021/TT-BTC on how to calculate the price of member management services of the Stock Exchange as follows:
The service price is prescribed in Point 1 Section I Part A of the Price Schedule.
Charging period:
- If an organization is currently a member of the SE and is not subjected to the cancellation of membership in the year, the charging period shall be 12 months counting from January 01 of the charging year.
- If an organization is a new member of the SE and is not subjected to the cancellation of membership in the same year, the charging period shall be calculated from the month after the month in which the SE issues a decision to approve membership to the end of December of the same year.
- If an organization is currently a member of the SE but is subject to the SE’s suspension of trading membership or trading activities to serve voluntary or compulsory cancellation of membership in the same year, the charging period shall be calculated from the beginning month of the year to the end of the month in which its trading membership or trading activities are suspended by the SE.
- If an organization is a new member of the SE but is subject to the SE’s suspension of trading membership or trading activities to serve voluntary or compulsory cancellation of membership in the same year, the charging period shall be calculated from the month after the month in which the SE issues a decision to approve membership to the end of the month in which its trading membership or trading activities are suspended by the SE.
- If an organization becomes a member of the SE after the consolidation, merger, full or partial division, conversion or repurchase which requires registration as a new member, it must pay the same service charge as that incurred by an applicant for registration of new membership.
What are the time limits for collection of periodic membership management service fees?
Pursuant to the provisions of Article 5 of Circular No. 101/2021/TT-BTC on the time limits for collection of periodic membership management service fees as follows:
Time limits for collection or refund of securities service prices
1. With regard to services charged annually as prescribed in the Price Schedule enclosed herewith, service users shall make payments to SEs or VSDC by January 31 every year.
2. With regard to services charged monthly as prescribed in the Price Schedule enclosed herewith, service users shall make payments to SEs or VSDC by the 15th of the following month.
3. An organization that applies for registration as a new member of the SE or VSDC and applies for the first listing shall pay prices of registration service for derivatives trading member, member management service, derivatives trading member management service, initial online connection service, periodical connection maintenance service, terminal device user service, registration service as clearing member, registration service for derivatives clearing member, depository member management service, clearing member management service, derivatives clearing member management service, listing registration service, and listing management service within 05 (five) business days after the SE issues a Decision to grant trading membership, Decision to approve connection for online trading, Decision on approval of listing, or Decision to approve connection for remote trading, or after VSDC issues a Certificate of depository membership, clearing membership or derivatives clearing membership.
Thus, the the time limits for collection of periodic membership management service fees of the Stock Exchange is by January 31 every year.
Is the service price in the securities sector required to be paid in Vietnamese Dong?
According to the provisions of Clause 4, Article 4 of Circular No. 101/2021/TT-BTC on payment of service prices in the securities sector, prices of securities services shall be paid in Vietnamese Dong.
With regard to government bonds in foreign currency, the service price shall be calculated adopting the average rate of the central rates of that foreign currency to Vietnamese Dong announced by the State Bank of Vietnam in the month in which the service is rendered.
LawNet
