I. TRADING REGULATIONS FOR DEBT INSTRUMENTS

1. Trading Products

• Debt instruments include: Government Bonds, Local Government Bonds, Government-Guaranteed Bonds
• Treasury Bills
• National Construction Bonds

2. Trading Hours

From Monday to Friday every week, excluding public holidays as per the Labor Code.

Session	Trading Method	Trading Hours
Morning	Negotiated Transactions	9:00 AM – 11:30 AM
Lunch Break		11:30 AM – 1:00 PM
Afternoon	Negotiated Transactions	1:00 PM – 2:45 PM
Time for Negotiation and Reporting Transactions before the Trading Date in the Debt Instrument Trading System		9:00 AM – 5:00 PM

3. Trading Method: Negotiated transactions.

4. Same-Day Buy and Sell Transactions by Investors

Simultaneous buying and selling of the same debt instrument by an investor in a single trading session is only allowed if the transactions result in a transfer of ownership of the debt instrument.

5. Price Quotation Unit

• The quotation unit is set at 01 (one) VND.
• Prices calculated by the system are rounded to the nearest 01 (one) VND.

6. Face Value Listing and Trading Unit

• The face value of debt instruments listed on HNX is 100,000 (one hundred) VND or multiples of 100,000 (one hundred) VND.
• The trading unit is 01 (one) debt instrument.

7. Minimum Trading Volume

• The minimum trading volume for debt instruments via electronic or normal negotiated transactions is 100 (one hundred) debt instruments.
• For transactions involving multiple debt instruments, the minimum trading volume for each is 100 (one hundred) units.
• For standard transactions with a volume ranging from 01 (one) to 99 (ninety-nine) debt instruments (odd lot transactions), these are carried out directly between the investor and a regular trading member or between debt instrument trading members based on price agreement.

8. Transaction Methods

8.1. Electronic Negotiated Transactions: Includes the following types of orders:

• Market-Wide Electronic Negotiation Order: Publicly posted buy/sell orders with firm commitment, valid for the day.
• Market-Wide Electronic Negotiation Orders are only applicable to standard purchase and sale transactions.
• Optional Electronic Negotiation Orders:
  • Quotation Request Order: Used as an indicative order when investors have not yet identified a trading counterparty. Can be sent to one, a group of, or all market members.
  • Firm Commitment Buy/Sell Order: Used to respond to quotation requests, sent specifically to the requesting member.

8.2 Regular Negotiated Transactions

• The regular negotiated transaction method includes a transaction reporting order. A transaction reporting order is used to input a transaction into the system when the parties involved have already agreed on the terms of the transaction.
• The transaction report results must be submitted and entered into the trading system within one working day from the date the parties reach an agreement on the transaction. The information reported into the system includes:
  • The time of transaction agreement;
  • The time of contract signing;
  • The time of transaction execution (the time of debt instrument transfer and transaction settlement);
  • Other relevant information.
• The period between the date the standard transaction results are entered into the system and the transaction execution date must not exceed three (03) working days.

9. Types of Transactions

9.1 Standard Purchase and Sale Transaction

• This is a transaction conducted on the trading system where one party sells and transfers ownership of a debt instrument to another party without any commitment to repurchase the debt instrument.
• Applicable order types include:
  • Market-wide electronic negotiation orders;
  • Optional electronic negotiation orders;
  • Transaction reporting orders.

9.2 Repurchase Transaction (Repo)

• This is a transaction conducted on the trading system where one party sells and transfers ownership of a debt instrument to another party while committing to repurchase and regain ownership of the debt instrument after a specified period at a predetermined price. A repurchase transaction consists of a sale (Transaction 1) and a repurchase (Transaction 2). In a repurchase transaction, the seller is understood as the seller in Transaction 1, and the buyer is the buyer in Transaction 1.
• Applicable order types include:
  • Optional electronic negotiation orders;
  • Transaction reporting orders.

9.3 Combination of Sale and Repurchase Transactions

• This is a transaction conducted on the trading system that combines two standard purchase and sale transactions at the same time with the same trading counterparty. It includes one transaction to sell a debt instrument (Standard Transaction 1) combined with a repurchase of the same debt instrument (Standard Transaction 2) at a specified future date. In this scenario, the seller in Standard Transaction 1 becomes the buyer in Standard Transaction 2. Additionally, the price, volume, and execution date of Standard Transaction 2 must be predetermined at the time the two transactions are agreed upon.
• Applicable order types include:
  • Optional electronic negotiation orders;
  • Transaction reporting orders.

9.4 Lending and Borrowing Transaction: A transaction where the borrower borrows a debt instrument and commits to return the borrowed debt instrument to the lender after a specified period.

• Lending and borrowing transactions are conducted based on agreements between the parties and are executed either on the trading system at the Stock Exchange (SGDCK) or on the lending and borrowing system of the Vietnam Securities Depository (VSD). The parties negotiate and are responsible for matters such as the loan volume, borrowed and returned assets, collateral, interest rate, and other terms. These agreements must comply with the regulations governing the participants and the rules of the Stock Exchange and the Vietnam Securities Depository and Clearing Corporation.
• Only market makers are allowed to participate in lending transactions.
• Applicable order types include:
  • Optional electronic negotiation orders;
  • Transaction reporting orders.

10. Order Modification/Cancellation for Negotiated Transactions

• Regulations on modifying or canceling unexecuted negotiation orders:
  • During the trading session, it is allowed to amend or cancel unexecuted negotiation orders at the request of the investor or in case of incorrect input compared to the original order.
  • The amendment or cancellation of unexecuted negotiation orders must follow the procedures outlined in the Debt Instrument Trading Procedures issued by the Hanoi Stock Exchange (HNX).
• Regulations on amending or canceling executed negotiation orders:
  • Debt instrument transactions that have been confirmed in the system cannot be canceled, except for transactions specified in Clause 2, Article 18 of Circular 30/2019/TT-BTC.
  • Executed debt instrument transactions may only be amended if the following conditions are met:
    • The mutual consent of all counterparties involved in the transaction;
    • A valid reason for the amendment;
    • Approval from the Hanoi Stock Exchange (HNX).

11. Settlement Method and Period

• Debt instruments are settled instantly for each transaction on the settlement date, as long as the seller has sufficient debt instruments and the buyer has sufficient money in accordance with current regulations.
• Transaction settlement is conducted based on the principle of Delivery Versus Payment (DVP).
• The settlement date for debt instruments is the next working day following the transaction date (T+1)
• The settlement period for debt instruments is from 09:00 to 15:30 on the settlement date.

12. Order Submission Methods

• Online Trading:
  • Mobile Trading: Download the Alphatrading app from App Store or Google Play
  • Web Trading: Visit https://trading.pinetree.vn
• Via Call Center: (84-24) 6282 3535
• In Person: Pinetree Headquarters, 20th Floor, ROX Tower, 54 Nguyen Chi Thanh, Lang Thuong Ward, Dong Da District, Hanoi.

II. TRADING GUIDELINES

1. Guidelines for In-Person Transactions at the Trading Counter

• Step 1: Obtain a trading order form at the trading floor. Use the form designated for negotiated transactions.
• Step 2: Complete the form with all required information and sign it.
• Step 3: Submit the completed form to the Customer Service Specialist.
• Step 4: The Customer Service Specialist will review, place the order, and notify the customer of the transaction results through the registered communication methods.

2. Guidelines for Phone Transactions

• Step 1: Call the order hotline at (84-24) 6282 3535.
• Step 2: Provide the Customer Service Specialist with:
  • Your phone trading password (the password registered when opening the account/for phone trading).
  • Complete order information as per the order form template.
• Step 3: Send the completed order form to Pinetree’s Customer Service Department.
• Step 4: Upon receiving the order form, the Customer Service Department will place the order and notify the customer of the transaction results through the registered communication methods.

3. Guidelines for Transactions Through Other Methods

• Step 1: Register additional order methods accepted by Pinetree at the time.
• Step 2: Submit the order form and documents according to the registered method.
• Step 3: Upon receiving the order form and documents, the Customer Service Specialist will review, place the order, and notify the customer of the transaction results through the registered communication methods.
• Step 4: Customers should confirm the placed orders through the online channel and send the original order form to Pinetree’s Customer Service Department.

For more details, please contact Pinetree via the following channels:

• Phone: 024 6282 3535
• Email: trading@pinetree.vn
• Facebook: Chứng khoán Pinetree
• Zalo: Chứng khoán Pinetree
• In-Person: Pinetree Headquarters, 20th Floor, ROX Tower, 54 Nguyen Chi Thanh, Lang Thuong Ward, Dong Da District, Hanoi.