Rule · SSC · 31 Dec 2020 · 120/2020/TT-BTC

Circular 120/2020/TT-BTC on Trading of Listed Stocks, Registered Trading Securities, Fund Certificates, Corporate Bonds, and Listed Secured Warrants

The Ministry of Finance issued Circular 120/2020/TT-BTC to regulate trading activities for listed stocks, registered trading securities, fund certificates, corporate bonds, and listed secured warrants on the stock exchange system. This regulation, effective from February 15, 2021, replaces the previous Circular 203/2015/TT-BTC dated December 21, 2015. The State Securities Commission oversees the implementation of these updated trading rules.

VietnamState Securities Commission

On December 31, 2020, the Ministry of Finance issued Circular No. 120/2020/TT-BTC regulating the trading of listed stocks, registered trading securities, fund certificates, corporate bonds, and listed secured warrants on the stock exchange system.

This Circular takes effect from February 15, 2021, and replaces Circular No. 203/2015/TT-BTC dated December 21, 2015, of the Ministry of Finance regarding the guidance on securities trading.

SSC

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Lineage: Amended

A newer document in RegAlert amends this one; it applies as amended.

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The links and the sentences they come from (7)

Supersedes

Circular No. 203/2015/TT-BTC dated December 21, 2015, of the Ministry of Finance regarding the guidance on securities tradingNot in RegAlert · Ministry of Finance
“replaces Circular No. 203/2015/TT-BTC dated December 21, 2015, of the Ministry of Finance regarding the guidance on securities trading.”

Amended by

Circular 08/2026/TT-BTC Amending Provisions on Securities Market Information Disclosure and Trading2026 · SSC
“Circular No. 120/2020/TT-BTC dated December 31, 2020 of the Minister of Finance regulating trading of listed stocks”
Decision 3764/QD-BTC on Implementing the Plan to Upgrade the Vietnamese Stock Market2025 · SSC
“Circular 120/2020/TT-BTC dated December 31, 2020 of the Ministry of Finance on trading of listed stocks”
Unified Document No. 44/VBHN-BTC on Trading Listed Stocks and Corporate Bonds2025 · SSC
“Circular No. 120/2020/TT-BTC dated December 31, 2020 of the Minister of Finance regulating trading of listed stocks... is amended and supplemented by:”
Circular 18/2025/TT-BTC amending provisions of Circulars 119/2020/TT-BTC and 96/2020/TT-BTC2025 · SSC
“This Circular replaces certain provisions in Article 9a of Circular No. 120/2020/TT-BTC amended and supplemented at Clause 2, Article 1 of Circular No. 68/2024/TT-BTC”
Circular 68/2024/TT-BTC amending provisions on securities trading, clearing and settlement, securities company operations, and information disclosure2024 · SSC
“Amending and supplementing certain articles of Circular No. 120/2020/TT-BTC dated December 31, 2020, of the Minister of Finance regulating the trading of listed stocks...”

Basis for

Unified Document No. 42/VBHN-BTC on Securities Company Operations2025 · SSC
“In the case where the trading member receives buy orders for stocks not requiring sufficient funds according to Article 9a of Circular No. 120/2020/TT-BTC”

Mentions (3): 3 documents mention this one without changing it

Referred to by

Conclusion of Inspection No. 52/KL-TT regarding Inspection at DNSE Securities Joint Stock Company2026 · SSC
“Point a Clause 1 Article 7 of Circular No. 120/2020/TT-BTC dated December 31, 2020”
Conclusion of Inspection No. 39/KL-TT regarding MB Securities Joint Stock Company2026 · SSC
“complying with the stipulations in Point a Clause 1 Article 7 of Circular No. 120/2020/TT-BTC dated December 31, 2020”
Inspection Conclusion No. 71/KL-TT Regarding Inspection of Phu Hung Securities Joint Stock Company2024 · SSC
“Clause 4 of Article 9 of Circular No. 120/2020/TT-BTC dated December 31, 2020, by the Minister of the Ministry of Finance on trading listed stocks”

Timeline

Amended 5 times · last 2026-02-03

2026-02-03SSCCircular 08/2026/TT-BTC Amending Provisions on Securities Market Information Disclosure and Tradingamends
2025-11-06SSCDecision 3764/QD-BTC on Implementing the Plan to Upgrade the Vietnamese Stock Marketamends
2025-10-29SSCUnified Document No. 44/VBHN-BTC on Trading Listed Stocks and Corporate Bondsamends
2025-04-26SSCCircular 18/2025/TT-BTC amending provisions of Circulars 119/2020/TT-BTC and 96/2020/TT-BTCamends
2024-09-18SSCCircular 68/2024/TT-BTC amending provisions on securities trading, clearing and settlement, securities company operations, and information disclosureamends