Circular 87/2013/tt-Btc: Guide To Electronic Transactions On The Stock Market

Original Language Title: Thông tư 87/2013/TT-BTC: Hướng dẫn giao dịch điện tử trên thị trường chứng khoán

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.
Circular electronic transactions on the stock market _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ securities pursuant to the law No. 70/2006/QH11 on 29 June 2006;
Pursuant to the law amending and supplementing some articles of the law No. 62/2010 securities/QH12 November 24, 2010;
Electronic transactions pursuant to the law No. 51/2005/QH11 on November 29, 2005;
Pursuant to the law of information technology no. 67/2006/QH11 on 29 June 2006;
Pursuant to Decree No. 27/2007/ND-CP dated 23 February 2007 of the Government regulation of electronic transactions in financial activities;
Pursuant to Decree No. 118/2008/ND-CP on November 27, 2008 of the Government functions, tasks, powers and organizational structure of the Ministry of finance;
At the suggestion of the Chairman of the State Securities Commission;
The Minister of Finance issued a circular guiding electronic transactions on the stock market as follows: chapter I GENERAL PROVISIONS article 1. Scope this circular stipulates in principle, the procedure of electronic transaction organization active in online securities trading, operation of electronic exchange of information related to the operation of securities offered to the public, depository, listing, registration and securities transactions; operation management of securities companies, fund management companies, securities investment companies; publication information activities and other activities related to the stock market as defined by the securities law No. 70/2006/QH11 on 29/06/2006 and law amendments and supplements to some articles of the law No. 62/2010 securities/QH12 on 24/11/2010 (hereinafter referred to as the Securities Law).
Article 2. The object object adjustment adjust include: State Securities Committee (STATE SECURITIES COMMISSION), stock exchange (SGDCK), Vietnam securities depository Center (TTLKCK), the issuer, listing organizations, securities companies, fund management companies, securities investment companies, companies, investors and other intermediary organizations the choice of transaction in securities and market activity Stock Exchange by electronic means.
Article 3. Explain the term 1. Electronic transactions in the securities field is the transaction in securities services activities and the stock market is done by electronic means, including: active selling of securities, depository, listing, registration and securities transactions; operation management of securities companies, fund management companies, securities investment companies; publication information activities and other activities related to the stock market as defined in the Securities Law.
2. electronic voucher in the securities field is message data about business operations in securities are created, sent, received and stored by electronic means in the operation of online securities trading; operation the electronic exchange of information related to the operation of securities offered to the public, depository, listing, registration and securities transactions; operation management of securities companies, fund management companies, securities investment companies; publication information activities and other activities related to the securities market according to the provisions of the securities laws.
3. Slip the electronic order is message data record the data the customer has placed the order through the system of online securities trading (stock company where the customer open transaction account) at a certain point that only customers can access on that system through authenticated access and order.
Article 4. The principle of electronic transactions in the securities field 1. The implementation of electronic transactions in the securities field must follow the principle of clear, fair, honest, safe, efficient and in accordance with article 5 of law No. 51/electronic trading/2005/QH11.
2. organizations providing services in the field of electronic trading in securities must meet the conditions specified in section i. section II 1 circular No. 78/2008/TT-BTC on electronic transactions in financial activities.
3. organizations and individuals use electronic trading services in the securities field must meet the conditions specified in section i. 2 part II circular 78/2008/TT-BTC on electronic transactions in financial activities.
Chapter II the OPERATION of ONLINE SECURITIES TRADING What 5. Ask about the service 1. The service's online securities trading service from securities companies offer investors to open accounts, place orders, make a claim for securities trading, or trading results via the Internet or phone.
2. The stock is allowed to perform online transaction services is the stock is traded on the SGDCK.
3. the securities company must build an electronic information page with the address identified on the Internet acts as a portal for the online trading service.
4. Investors open accounts under the provisions of the law in the electronic information page of a securities firm can perform online transactions service after registration and make the necessary legal procedures.
When making the online securities trading, investors can use the electronic command votes, including votes for electronic orders must meet the criteria specified in article 5 of the Decree 27/2007/ND-CP on electronic transactions in financial activities.
5. the securities company must directly provide services for online stock investors, not delegating or hire other unauthorized institutions through payment service fee.
6. The company's securities are issued to the service implementation process online transactions match the electronic transaction Law and must sign a written contract with the client explicitly legal responsibility of both parties including the event of liability risks. the securities company must also clearly associated risks for investors in the form of a "A risk disclosure" attached to contract.
7. The company provides securities services to online stock trading provides the alternative transaction method, for customers who use the services of online securities trading.
8. stock company is responsible for providing regular text for projection of the electronic transaction activity for the investors to use the services of online securities trading.
9. No securities companies are providing services of online stock transactions on the transfer of financial resources, transfer and sale of trust stock.
10. the securities company must publish the related risks on "A risk disclosure" page on the official website of the company and on the customer's application software. The risks are published covering the following risks: a) during transmission through the Internet, traders may hang, suspended, delayed or defective data;
b) identifying organizations or investors may not be accurate, errors of security that may occur;
c) market prices and other securities information there may be errors or discrepancies;
d) The other risk that the securities regulators, securities firms may find it necessary to publish.
11. the securities companies participating in active trading stock trading services online are references to time effect or delay of the stock listed when sending to the client. Stock company provides stock information to clients, they must publish the source of information.
Article 6. Ask about information security and storage of data 1. Securities companies must store, ensure the integrity of the original form, the electronic document, electronic command votes, electronic data and recording the phone call a customer's order for at least 10 years.
2. Securities firms responsible for information security of the Organization, individuals involved in online transactions in accordance with the law. Securities companies not allowed to publish outside the information related to your account in money, securities, information and other data to investors.
Article 7. Technical requirements 1. Securities companies have to apply technical solutions to ensure service system online securities trading are technically separate to other business systems; use the security solution to prevent the illegal access to internal business system of the company stock through an online transaction activity.
2. Securities firms are technically separate to keep the data information of investors who do not subscribe to the service with online stock trading system of stock trading services online.
3. System services the online stock exchange must have technical solutions ensure secure data storage, system backup and restore fails to ensure both technically about safety, piecemeal, exactly the customer's data.
4. Securities firm to arrange professional staff qualified to administer and monitor the operation of the system of online trading services. Securities companies must have the staff meet the professional requirements of information technologies such as: operating system administration, database administration, security engineering, network administrator.
5. The system of online trading services must have the functions or facilities for the management of real time and prevent the illegal access. Store in a reasonable manner the information daily logs and check for a software system's main stock exchange services online as a network operating system, database and application software.
6. Information on customers using online trading services, trading and other sensitive information must be encrypted to ensure security during transmission through the Internet.
7. the securities company must apply technical measures or reliable management to identify correctly the online Investor; stop the fake access investors in securities transactions online.

8. the securities company must apply these measures or technical manager to set the limit on sale of securities according to the provisions of the law for every investor to engage in securities trading services online.
9. The main technical equipment related to the transmission of data and identity safe in service system of online securities trading will have to pass inspection and certification of safety agency's audit function of information technology in accordance with the law.
10. To ensure safety and security, the use of types of digital signatures, digital certificates for applications used for online transactions on the Internet environment of the securities companies are regulated as follows: a) electronic information Page (website), the electronic mail system (email) of securities companies offer the service of online stock transactions must be authenticated by certificate number;
b) securities companies and investors are actively choose to use digital signatures, certificate of transaction in the stock buy, sell online. Recommended investors use the public deed of purchase transaction, sell stock online.
11. Securities firms must asked solution providers and build application software for stock trading system online, privacy commitment application software source code with company stock.
Article 8. Conditions of providing services of online securities trading 1. Securities firms provide services for online stock investors securities company is a member of the SGDCK and to make connection with SGDCK's trading system. After connecting with SGDCK's trading system, stock company made register service provider of online stock transactions with STATE SECURITIES COMMISSION.
2. securities company not approved service providers of online stock trading in the event of suspension of activities, or stopped the transaction to terminate membership at SGDCK, or in an exclusive control of the STATE SECURITIES COMMISSION.
Article 9. Application service provider of online stock trading.
Application service provider of online stock transactions include: 1. register visa application service providing online stock exchange according to the form prescribed in annex 1 of this circular;
2. list the name and curriculum vitae of the expert service system management of online securities trading by the company according to the form prescribed in annex 2 and 3 of this circular;
3. Sample contracts on service of online stock transactions with customers and A risk disclosure according to the form prescribed in annex 4 and 5 of this circular;
4. report of system design of online securities trading according to the form prescribed in annex 6 of this circular;
5. Plans for the system failure of online securities trading according to the form prescribed in annex 7 of this circular;
6. The certificate of inspection of the safety and quality of the system's online stock agencies, organizations that the audit function of information technology in accordance with the law (certified copies);
7. plan to control risks of the company in the implementation of online transaction services according to the form prescribed in annex 8 of this circular;
8. Technical documentation on the network access device, device integration networks, hardware, software systems and other related devices according to the form prescribed in annex 9 of this circular;
9. official approval and check the online trading system of SGDCK (certified copies).
Article 10. The approval procedure provides online trading services 1. After getting the records prescribed in article 9 of this circular, within five (5) working days, the STATE SECURITIES COMMISSION have written asking additional securities or in writing for the record is not yet valid.
2. within ten (10) working days from the date of the request by the STATE SECURITIES COMMISSION, the securities company must have a written explanation or additions after the opinion of the STATE SECURITIES COMMISSION. After the time limit on the stock if the company does not add records, the STATE SECURITIES COMMISSION has the right to refuse consent.
3. within thirty-five (35) days from the date of receipt of a valid application, the STATE SECURITIES COMMISSION will approve the decision for providing securities trading services online. The case of rejection, the STATE SECURITIES COMMISSION must reply in writing and stating the reason.
Article 11. Reporting and disclosure of information 1. Securities companies are approved to provide services to online stock trading sent the STATE SECURITIES COMMISSION, SGDCK documents, reports related to the upgrade, changes to the system such as: make big upgrades operating system for securities trading services online; make the big fix for business management system; or operating a technical system and the principle of trading stocks online at a branch had never made an online transaction services. The time limit for submission of the report is a minimum 12 working days after the securities firm made upgrades or system changes.
2. the approved securities companies offer the service of online stock exchange must file the report in up STATE SECURITIES COMMISSION on securities transaction activity online before 31 January of the next year according to the form prescribed in annex 10 of this circular.
3. SGDCK is responsible for STATE SECURITIES COMMISSION report on the situation to provide services online stock for stock companies; report on the online trading system before 31 January of the next year according to the form prescribed in annex 11 of this circular.
4. responsible SGDCK announced on his website: the list of eligible securities company, are allowed to connect to the trading system of the SGDCK, procedures, regulations on registration as a member of the online trading facility.
5. The STATE SECURITIES COMMISSION is responsible for publication on your website: a list of the securities companies are allowed to offer the service of online stock transactions, procedure, rules of application service providers online securities trading for clients.
6. SGDCK, stock company submitted the report in the form of electronic reports that use digital certificates, digital signatures under the guidance of the STATE SECURITIES COMMISSION.
Article 12. Inspector, STATE SECURITIES COMMISSION performs inspection inspection, periodic inspection or unusual the SGDCK, stock company about implementation of online securities trading under the rules and when the event occur serious effects to the interests of investors and the safety of the market.
Article 13. Revoke the decision of approval to provide services online securities trading 1. Stock company revoked the decision approved service providers of online stock transactions in the case: a) has registered to withdraw stock brokerage business and has been approved by the STATE SECURITIES COMMISSION.
b) withdraw stock broking.
c) is temporarily deactivated.
d) revoked the license to establish and operate.
2. stock company revoked the decision approved service providers of online stock transactions as defined in paragraph 1 of this article must maintain and archive the data of stock trading system online to perform the obligations prescribed by law.
3. Securities firms recovered can register to provide stock trading services back online after the fix specified in article 13 paragraph 1 of this circular.
Chapter III OPERATION of ELECTRONIC INFORMATION EXCHANGE article 14. Regulations on electronic exchange of information 1. Operation of electronic information exchange activity is the exchange of information through the Internet between the market management organization (including the STATE SECURITIES COMMISSION, SGDCK, TTLKCK), securities companies, fund management companies, securities investment companies with registered objects use.
2. Objects registered to use the service to exchange information electronically through the registered address can send data about the disclosure of his unit and receive feedback from management agency securities market.
3. Objects registered to use the service to exchange information electronically, including: a) public company, registered organizations are offered for sale of stock b) organizations, individuals perform registration, securities depository c) Organization for permission to establish the securities companies, fund management companies, securities investment companies.
d) organizations, other related individuals.
4. Objects registered to use the service to exchange information electronically must submit the registration form and complete the necessary procedures to be able to use any service of any electronic exchange of information in electronic information page of the market management organization.
5. The market management organization responsible for issuing the process to service the electronic exchange of information and in case of need to sign a contract in writing with the registry object to use of this service. This contract must specify the liability of the two sides and the risks that may occur to the customer when using the unit's service offering.
6. The governing body must establish electronic information page on the Internet acts as a gateway to services for the electronic exchange of information.
7. The organization provides services to the electronic exchange of information have a responsibility to ensure the security mode information for the customer.
8. The information, data transfer through the system for electronic exchange of information must meet the conditions specified in article 4 of the Decree 27/2007/ND-CP on electronic transactions in financial activities.
9. procedure of registration service providers electronic information exchange in the field of securities must comply with the provisions in section v.a. 2 part II circular No. 78/2008/TT-BTC on electronic transactions in financial activities.
Chapter IV IMPLEMENTATION article 15. Effective enforcement of this circular are effective from the date of 15 August 2013 and replaces circular No. 50/2009/TT-BTC dated 16/03/2009 on the electronic transaction instructions on the stock market.
Article 16. Organizations make

1. The securities firms have been approved to provide services online stock trading within a period of 12 months since the circular have the effect to improve the digital certificate requirements for electronic information, electronic mail system of Securities Corporation as defined in art. 10 article 7 of this circular.
2. The STATE SECURITIES COMMISSION is responsible for enacting the provisions of specific guidelines on the use of digital signature in the field of securities. The SGDCK, the TTLKCK is responsible for enacting the Statute guidelines, business processes and compliance monitoring transaction activity online by a member after being approved by the STATE SECURITIES COMMISSION.
The STATE SECURITIES COMMISSION, SGDCK, TTLKCK, securities companies, fund management companies, securities investment companies, organizations and individuals concerned is responsible for the implementation of this circular.
3. The amendments and supplements to this circular by the Minister of finance decides to./.