Circular electronic transactions on the stock market _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ pursuant to the law on securities of 29 June 2006;
Electronic transactions Act base on November 29, 2005;
Pursuant to the law on information technology 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;
The Ministry of Finance shall guide the implementation of some of the content of the Decree No. 27/2007/ND-CP on February 23, 2007 the Government electronic transactions on the stock market as follows: i. GENERAL PROVISIONS 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, listed securities; 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. Subject to the adjustment object includes State Securities Committee (STATE SECURITIES COMMISSION), stock exchange (SGDCK), the 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 securities by electronic means.
3. Explanation of terms 3.1. Electronic transactions in the securities sector is active in trading, service on securities and the stock market is done by electronic means, including: active selling of securities, depository, listed securities; 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.
3.2. 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, listed securities; 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.
3.3. The vote is electronic command message data record the data the customer has placed the order through a data system (of the securities company where the customer open transaction account) at a certain point that only customers can access on that system through password access password and place orders.
4. principles of electronic transactions in the fields of securities 4.1. 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 the electronic transaction Law No. 51/2005/QH11.
4.2. The organization provides services in the field of electronic trading in securities must meet the conditions specified in section i. 1 part II of circular No. 78/2008/TT-BTC on electronic transactions in financial activities.
4.3. organizations and individuals use electronic trading services in the securities field must meet the conditions specified in section i. 2 of part II of circular No. 78/2008/TT-BTC on electronic transactions in financial activities.
II. SPECIFIC CONTENT 5. Operation 5.1 online securities trading. 5.1.1 service requirements.    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.
5.1.2. The stock is allowed to perform online transaction services is the stock is traded on the SGDCK.
5.1.3. the securities company must create an electronic information page with the address identified on the Internet acts as a portal for the online trading service.  
5.1.4. 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.
5.1.5. the securities company must directly provide services online stock for investors; not be mandated or hire other unauthorized institutions through payment service fee.
5.1.6. the securities company must enact processes perform online transaction services consistent with the law on electronic transactions and must sign a written contract with the client regulated the legal responsibility of both parties including the event of liability risks. the securities company must also specify the associated risks for investors under the form a "A risk disclosure" attached to contract.
5.1.7. the securities company must store, ensure the integrity of the original format of electronic documents, electronic command votes, electronic data and recording the phone call a customer's order for at least 10 years.
5.1.8. the securities firm is responsible for information security of the Organization, individuals involved in online transactions in accordance with the law. Securities companies not allowed to publish outside electronic business information page on the legitimate programs or systems related to the account money, securities, information and other data to investors.
5.1.9. the securities company provides online trading services must provide the alternative method for customers using online trading services.
5.1.10. the securities company is responsible for providing regular text for projection of the electronic transaction activity for investors using online trading services.
5.1.11. the securities company is not offered online trading services on the transfer of financial resources, transfer and mandated the sale of securities.
5.1.12. 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. the identification of 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 risk that the securities regulators, securities firms may find it necessary to publish.
5.1.13. Securities firms involved in active trading online trading service to notes duration or time delay of the stock listed when sending to the client. Stock company provides stock information to clients, they must publish the source of information.
5.2. technical requirements 5.2.1. Securities firms must apply the comprehensive technical solutions and tight to ensure that the system of online transaction services are technically separate to other business systems; prevent the illegal access to internal business system of the company stock through an online transaction activity.
5.2.2. the securities companies are technically separate all data information of the investors do not register online trading service with online trading service; to set the internal restraint system.
5.2.3. system online trading services 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.
5.2.4. the 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.
5.2.5. The system of online trading services must have the functions or facilities for the management of real time and prevent the illegal access. The system must keep a daily diary information and check for a software system's main online transaction services such as operating systems, network management systems, database and network management system.
5.2.6. Information about customers using online trading services, trading and other sensitive information must be encoded appropriately during transmission through the Internet.
5.2.7. the securities company must apply those technical measures or reliable management to identify correctly the online Investor; prevent the forged or counterfeit securities companies.
5.2.8. Securities companies have to 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 online trading service.

5.2.9. The main technical equipment related to the transmission of data and identity safe in service system online transactions will have to pass inspection and safety certification of State administration authorities. Online trading services must use digital signatures; the case has not offers certified digital signatures in public, the parties to the transaction may deal with each other by writing on the use of electronic signatures to ensure safety in the process of implementing the transaction.
5.2.10. The software related to system security and main business operations must be mandated source password program and compile environment necessary for an independent organization that is recognized by the parties concerned.
5.3. procedure of registration service providers 5.3.1 online securities trading. Securities firms provide services to online stock trading is stock company member of the SGDCK and must register with the STATE SECURITIES COMMISSION approval.
5.3.2. the registration records to provide services online securities trading include: a. visa application register to provide services online securities trading stamp company official and committed to comply with applicable laws;
b. list the name and curriculum vitae of the expert service system management of online securities trading by the company meet the requirements for technical expertise in section 5.2.4 of this circular.
c. list the branches join the business service online securities trading, which stated their name, contact address of the contact person, contact media;
d. a sample contract on services of online stock transactions with the customer, which must specify the risk and other materials related to the service of online securities trading;
Sync analysis report summarizes and reports the system design relating to the system of stock trading services online. The main contents are: the technical standards and the implementation of strategy the standards of network structure, real-time management, identification, transfer encryption when data transmission, digital signature, splitting the network and risk prevention, modes of communication over the network, the network access method, the structural and functional diagram of the network;
e. check the system reports include the maximum capabilities of the system, the indicator response and latency, fault tolerance, reliability and other important data relating to the configuration of the system;
g. plans for cases of malfunctioning of the system, for the transmission of information, alternative trading methods and measures related to restore data and systems;
h. The certificate about the safety and quality of the system;
i. address electronic information page to access the services of online securities trading company;
k. risk control plans of the company in the implementation of online transaction services, including technical measures, and the service management for controlling risks related to online trading service;
l. technical documentation on the network access device, device integration networks, hardware, software systems and other related devices.
5.3.3. within 45 days from the date of receipt of a valid application, the STATE SECURITIES COMMISSION will take decisions to refuse or consent to the provision of services online securities trading. The case of rejection, the STATE SECURITIES COMMISSION must reply in writing and stating the reason.
 5.3.4. the approved securities companies offer the service of online stock transactions must submit 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 of 7 working days before the stock company perform the upgrade or change the system.
 5.3.5. the approved securities companies offer the service of online stock exchange must file annual reports up the STATE SECURITIES COMMISSION on securities transaction activity online before 31 January of the next year.
5.3.6. The STATE SECURITIES COMMISSION, the responsible SGDCK announced on its website the list of eligible securities company, are permitted to provide services online securities trading.
6. Operation 6.1 electronic exchange of information. 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.
6.2. 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.
6.3. The object of registration to use the services of the electronic exchange of information include: a. public company, registered organization offered securities;
b. the Organization, individuals perform registration, securities depository;
c. the registration organization stock;
d. the organization permission to establish securities companies, fund management companies, securities investment companies;
Timer personal organizer, ...
6.4. 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.
6.5. The market management organization responsible for issuing specific processes 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.
6.6. management bodies must establish electronic information page on the Internet acts as a gateway to services for the electronic exchange of information.
6.7. The organization provides services to the electronic exchange of information have a responsibility to ensure the security mode information for the customer.
6.8. The information, data transfer through the system for electronic exchange of information must meet the conditions specified in article 4, the Decree 27/2007/ND-CP on electronic transactions in financial activities.  
 6.9. The 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 of circular No. 78/2008/TT-BTC on electronic transactions in financial activities.
III. VIOLATION PROCESSING organizations, individuals participating in electronic transactions in the areas of securities law violations according to the nature and extent of the violation will be sanctioning administrative violations, compensation for damage or prejudice criminal responsibility according to the provisions of the Decree 27/2007/ND-CP , Securities law and other related laws.
IV. IMPLEMENTATION 1. This circular has the effect after 45 days from the date of signing.
2. The securities company has provided the services of online stock transactions must complete the registration procedures with the STATE SECURITIES COMMISSION approval within six months from when the circular have the effect.
3. STATE SECURITIES COMMISSION, SGDCK, TTLKCK, issuers, listed institutions, securities companies, fund management companies, securities investment companies and organizations, individuals are responsible for implementation of this circular.

      Where:-the Office of party Committee and TW;

-The Office of the National Assembly;

-The Office of the President;

-Ministries, ministerial agencies, government agencies;

--The Supreme People's Procuracy;

--The Supreme People's Court;

-Financial Management Board TW;

-TW of unions;

-Check writing Bureau (Ministry of Justice);

-State Auditor;

-Gazette;

-Government Website;

-The PEOPLE, the province, directly governed cities;

-Department of finance, tax Department, Bureau, KBNN customs, the STATE SECURITIES COMMISSION, SGDCK, TTLKCK;

-The unit directly under the Ministry of finance-Save: VP, PC, the STATE SECURITIES COMMISSION.