Decision 1541/QD-BTC on Service Fees for Securities Trading at HOSE and VSD

MINISTRY OF FINANCE SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness

No. 1541/QD-BTC Hanoi, April 29, 2025

DECISION Issuing service fee levels in the securities sector applicable at the Vietnam Stock Exchange and its subsidiaries, Vietnam Securities Depository and Clearing Corporation

MINISTER OF FINANCE

Pursuant to the Price Law dated June 19, 2023;

Pursuant to the Securities Law dated November 26, 2019;

Pursuant to Government Decree No. 85/2024/NĐ-CP dated July 10, 2024, detailing certain articles of the Price Law;

Pursuant to Government Decree No. 29/2025/NĐ-CP dated February 24, 2025, defining the functions, tasks, powers, and organizational structure of the Ministry of Finance;

Pursuant to Circular No. 83/2024/TT-BTC dated November 26, 2024, of the Minister of Finance guiding the mechanism and policies on service fees in the securities sector priced by the State, applicable at the Vietnam Stock Exchange and its subsidiaries, and the Vietnam Securities Depository and Clearing Corporation;

Considering the proposals of the Vietnam Stock Exchange in Official Letter No. 1013/SGDVN-TCKT dated December 16, 2024, the Hanoi Stock Exchange in Official Letter No. 321/SGDHN-TCKT dated February 13, 2025, the Ho Chi Minh City Stock Exchange in Official Letter No. 1873/SGDHCM-TCKT dated December 11, 2024; and the Vietnam Securities Depository and Clearing Corporation in Official Letter No. 441/VSDC-TPAG dated December 13, 2024;

According to the recommendation of the Chairman of the State Securities Commission.

DECIDES:

Article 1. Issuing alongside this Decision the service fee levels in the securities sector applicable at the Vietnam Stock Exchange and its subsidiaries, and the Vietnam Securities Depository and Clearing Corporation. The service fee levels issued alongside this Decision do not include value-added tax (if applicable).

Article 2. This Decision takes effect from the date of signing.

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Article 3. The Chairman of the State Securities Commission, Director of the Price Management Department, Head of the Office of the Ministry of Finance, Chairman of the Member Council of the Vietnam Stock Exchange, Chairman of the Hanoi Stock Exchange, Chairman of the Ho Chi Minh City Stock Exchange, Chairman of the Member Council of the Vietnam Securities Depository and Clearing Corporation, and heads of relevant units are responsible for implementing this Decision.

For distribution:

• As per Article 3;
• Minister of MOF (for report);
• Ministry of Finance Electronic Portal;
• File: VT, SSC (15b).

FOR THE MINISTER DEPUTY MINISTER

(Signed)

Tran Quoc Phuong

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SERVICE FEE LEVELS IN THE SECURITIES SECTOR APPLICABLE AT THE VIETNAM STOCK EXCHANGE AND ITS SUBSIDIARIES, VIETNAM SECURITIES DEPOSITORY AND CLEARING CORPORATION (Attached to Decision No. 1541/QD-BTC dated April 29, 2025, of the Ministry of Finance)

A. SERVICE FEES APPLICABLE AT THE UNDERLYING SECURITIES MARKET

STT	SERVICE FEE NAME	FEE LEVEL
I	SERVICE FEES APPLICABLE AT THE VIETNAM STOCK EXCHANGE
1	Member management service fee	20 million VND/member/year
II	SERVICE FEES APPLICABLE AT THE HANOI STOCK EXCHANGE
1	Listing registration service fee
1.1	Initial listing registration service fee
	For stocks, corporate bonds	10 million VND
1.2	Listing registration change service fee
	For stocks, corporate bonds	5 million VND/change of listing registration
2	Listing management service fee
2.1	For stocks (listing value based on par value)
a	Listing value under 100 billion VND	15 million VND
b	Listing value from 100 billion to under 500 billion VND	20 million VND
c	Listing value from 500 billion VND and above	20 million VND + 0.001% of listing value, but total does not exceed 50 million VND
2.2	For corporate bonds (listing value based on par value)
a	Listing value under 80 billion VND	15 million VND
b	Listing value from 80 billion to under 200 billion VND	20 million VND
c	Listing value from 200 billion VND and above	20 million VND + 0.001% of listing value, but total does not exceed 50 million VND
3	Trading service fee
3.1	Normal trading service fee
a	Stocks	0.027% of transaction value
b	Corporate bonds	0.0054% of transaction value
c	Debt instruments according to the Public Debt Management Law	0.0042% of transaction value
d	Stocks registered for trading (UPCOM)	0.018% of transaction value
3.2	Repo trading service fee for debt instruments according to the Public Debt Management Law
a	Maturity up to 2 days	0.00035% of transaction value
b	Maturity 3 to 14 days	0.0028% of transaction value
c	Maturity over 14 days	0.0042% of transaction value
3.3	Sell-and-buy-back trading service fee for debt instruments according to the Public Debt Management Law	0.0042% of transaction value
3.4	Borrowing and lending trading service fee for debt instruments according to the Public Debt Management Law
a	Maturity up to 2 days	0.00035% of transaction value
b	Maturity 3 to 14 days	0.0028% of transaction value
c	Maturity over 14 days	0.0042% of transaction value
4	Online connection service fee
4.1	Initial connection service fee	150 million VND/member
4.2	Periodic connection maintenance service fee	50 million VND/member/year
5	Terminal device usage service fee	20 million VND/member/year
6	Auction, competitive offering, book-building service fee	0.15% of the total value of shares, capital contribution parts, and actual securities sold, maximum 150 million VND/1 auction, competitive offering, or book-building session, and minimum 20 million VND/1 auction, competitive offering, or book-building session
7	Tender service fee for issuing Government bonds, Fatherland Construction bonds, Government-guaranteed bonds, and local government bonds	0.0125% of the nominal value of bonds/bonds issued via tender, but maximum not exceeding 500 million VND/tender session (including supplementary tender sessions if any)
8	Tender service fee for buying back Government debt instruments, Government-guaranteed bonds, and local government bonds	0.00375% of the buyback value of debt instruments/bonds via tender, but maximum not exceeding 150 million VND/tender session
9	Tender service fee for swapping Government debt instruments, Government-guaranteed bonds, and local government bonds	0.00375% of the value of debt instruments/bonds swapped via tender, but maximum not exceeding 150 million VND/tender session
III	SERVICE FEES APPLICABLE AT THE HO CHI MINH CITY STOCK EXCHANGE
1	Listing registration service fee
1.1	Initial listing registration service fee
a	For stocks, investment fund certificates	10 million VND
b	For guaranteed warrants	5 million VND
1.2	Listing registration change service fee
a	For stocks, investment fund certificates	5 million VND/change of listing registration
b	For guaranteed warrants	2 million VND/change of listing registration
2	Listing management service fee
2.1	For stocks (listing value based on par value)
a	Listing value under 100 billion VND	15 million VND
b	Listing value from 100 billion to under 500 billion VND	20 million VND
c	Listing value from 500 billion VND and above	20 million VND + 0.001% of listing value, but total does not exceed 50 million VND
2.2	For investment fund certificates (excluding ETF certificates) (listing value based on par value)
a	Listing value under 80 billion VND	15 million VND
b	Listing value from 80 billion to under 200 billion VND	20 million VND
c	Listing value from 200 billion VND and above	20 million VND + 0.001% of listing value, but total does not exceed 50 million VND
2.3	For ETF certificates	30 million VND/year
2.4	For guaranteed warrants	1 million VND/month
3	Trading service fee
3.1	Listed stocks, investment fund certificates (excluding ETF certificates)	0.027% of transaction value
3.2	ETF certificates	0.018% of transaction value
3.3	Guaranteed warrants	0.018% of transaction value
4	Online connection service fee
4.1	Initial connection service fee	150 million VND/member
4.2	Periodic connection maintenance service fee	50 million VND/member/year
5	Auction, competitive offering, book-building service fee	0.15% of the total value of shares, capital contribution parts, and actual securities sold, maximum 150 million VND/1 auction, competitive offering, or book-building session, and minimum 20 million VND/1 auction, competitive offering, or book-building session
IV	SERVICE FEES APPLICABLE AT THE VIETNAM SECURITIES DEPOSITORY AND CLEARING CORPORATION
1	Depository member management service fee	20 million VND/member/year
2	Securities registration, partial cancellation of securities registration, or adjustment of registered securities quantity service fee
2.1	Initial securities registration service fee
a	Registered securities value under 80 billion VND	10 million VND
b	Registered securities value from 80 billion to under 200 billion VND	15 million VND
c	Registered securities value from 200 billion VND and above	20 million VND
2.2	Supplementary securities registration, partial cancellation of securities registration, or adjustment of registered securities quantity service fee
a	Stocks, corporate bonds, investment fund certificates (excluding ETF certificates)	5 million VND/time of supplementary registration, partial cancellation, or adjustment
b	ETF certificates, guaranteed warrants	500,000 VND/time of supplementary registration, partial cancellation, or adjustment
3	Securities depository service fee
3.1	Stocks, investment fund certificates, guaranteed warrants	0.27 VND/share, certificate, or warrant/month
3.2	Corporate bonds	0.18 VND/corporate bond/month, maximum 2,000,000 VND/month/bond code
3.3	Debt instruments according to the Public Debt Management Law	0.14 VND/debt instrument/month, maximum 1,400,000 VND/month/instrument code
4	Securities transfer service fee
4.1	Securities transfer between investor accounts at different depository members	0.3 VND/1 security/1 transfer/1 security code (maximum not exceeding 300,000 VND/1 transfer/1 security code)
4.2	Securities transfer for settlement purposes	0.3 VND/1 security/1 transfer/1 security code (maximum not exceeding 300,000 VND/1 transfer/1 security code)
5	Exercise of rights service fee
5.1	Under 500 investors	3.5 million VND/1 exercise of rights
5.2	From 500 to under 1,000 investors	7 million VND/1 exercise of rights
5.3	From 1,000 to 5,000 investors	10.5 million VND/1 exercise of rights
5.4	Over 5,000 investors	14 million VND/1 exercise of rights
6	Post-trade error handling service fee
6.1	Post-trade error correction service fee	500,000 VND/error correction transaction
6.2	Deferred settlement transaction handling service fee	1,000,000 VND/deferred settlement transaction
6.3	Proprietary trading error handling service fee	500,000 VND/error handling transaction
6.4	Cash settlement service fee	5,000,000 VND/cash settlement transaction
7	Transfer of securities ownership outside the Stock Exchange trading system
7.1	Transfer of securities ownership
a	Transfer of founding shareholders' stocks during the restricted transfer period according to law	0.1% of the transfer of ownership value
b	Transfer of centrally registered securities at VSDC approved by SSC	+ 0.1% of ownership transfer value for stocks, fund certificates, guaranteed warrants + 0.005% of ownership transfer value for corporate bonds, debt instruments according to the Public Debt Management Law
c	Transfer of ownership of privately issued corporate bonds registered at VSDC but not subject to trading on the Stock Exchange	0.005% of ownership transfer value
d	Transfer of ownership due to corporate division, spin-off, merger, acquisition; capital contribution via shares into enterprises (including cases approved by SSC for foreign-established entities); establishment, increase of charter capital of individual securities investment companies; increase, decrease of member fund charter capital	0.02% of ownership transfer value
d	Transfer of ownership due to handling of collateral securities registered and frozen at VSDC	+ 0.02% of ownership transfer value for stocks, fund certificates, guaranteed warrants + 0.005% of ownership transfer value for corporate bonds, debt instruments according to the Public Debt Management Law
7.2	Gift, inheritance of securities according to the Civil Code, excluding gifts/inheritance between spouses, parents and children, adoptive parents and children, parents-in-law and children-in-law, grandparents and grandchildren, siblings	+ 0.1% of ownership transfer value for stocks, fund certificates, guaranteed warrants + 0.005% of ownership transfer value for corporate bonds, debt instruments according to the Public Debt Management Law
7.3	Transfer of ownership due to public tender offer	0.03% of ownership transfer value
7.4	Transfer of ownership in ETF certificate swap transactions, exercise of guaranteed warrants	0.05% of the par value of underlying securities for ETF swap, or par value of underlying securities for warrant exercise
7.5	Transfer of ownership of stocks between foreign investors when the maximum foreign ownership ratio is reached and the agreed price is higher than the price ceiling on the trading system at the time of transaction	0.1% of ownership transfer value
7.6	Transfer of ownership for issuance or cancellation of depositary receipts in transactions between investors and issuers of depositary receipts abroad	0.05% of the par value of underlying securities for ownership transfer
7.7	Transfer of ownership of securities registered at VSDC as collateral for payment, bond interest upon maturity, due to private bond issuer's inability to fully and timely pay principal and interest in cash	+ 0.02% of ownership transfer value for stocks, fund certificates, guaranteed warrants + 0.005% of ownership transfer value for corporate bonds, debt instruments according to the Public Debt Management Law
7.8	Transfer of ownership of stocks from securities company's proprietary account to foreign institutional investor account	0.1% of ownership transfer value
8	Borrowing and lending of securities via VSDC system
8.1	Borrowing and lending securities management service fee	+ 0.027% of loan value at contract establishment for stocks, investment fund certificates, ETF certificates, guaranteed warrants, minimum 500,000 VND for settlement support loans + 0.0054% of loan value for corporate bonds, minimum 500,000 VND for settlement support loans + 0.0042% of loan value for debt instruments according to the Public Debt Management Law, minimum 500,000 VND for settlement support loans
8.2	Collateral asset management service fee	0.0024% of the cumulative value of collateral balance (cash + securities value at par value)/contract (maximum 1,600,000 VND/contract, minimum 100,000 VND/contract)
9	Principal, interest, and bond buyback payment service fee for Government bonds, Fatherland Construction bonds, Government-guaranteed bonds, and local government bonds	0.01% of the principal, interest, and buyback value of bonds/bonds being paid, but maximum not exceeding 200 million VND/1 payment of principal, interest, or buyback for one bond code
10	Principal, interest, and treasury bill buyback payment service fee	0.005% of the actual paid value of treasury bills and buyback value, but maximum not exceeding 100 million VND/1 payment of principal, interest, or buyback for one treasury bill code
11	Registration of security measures for securities registered at VSDC
11.1	Registration of security measures
a	Initial security transaction registration and securities freezing	80,000 VND/file
b	Registration of changes to registered security transaction content	60,000 VND/file
c	Registration of notification documents on collateral asset handling	30,000 VND/file
d	Cancellation of security transaction registration	20,000 VND/file
d	Issuance of copies of documents certifying registered security transaction content	25,000 VND/file
11.2	Information provision on security transactions	30,000 VND/file
12	Securities freezing service fee upon investor request	+ 0.1% of frozen securities value for stocks, fund certificates, guaranteed warrants, maximum 10 million VND/security code + 0.01% of frozen securities value for corporate bonds, debt instruments according to the Public Debt Management Law, maximum 10 million VND/security code
13	Clearing member registration service fee	20 million VND
14	Clearing member management service fee	20 million VND/member/year
15	Clearing service fee	0.018% of netting transaction value

B. SERVICE FEES APPLICABLE AT THE DERIVATIVES SECURITIES MARKET

STT	SERVICE FEE NAME	FEE LEVEL
I	SERVICE FEES APPLICABLE AT THE VIETNAM STOCK EXCHANGE
1	Derivatives securities member registration service fee	20 million VND
2	Derivatives securities member management service fee	20 million VND/member/year
II	SERVICE FEES APPLICABLE AT THE HANOI STOCK EXCHANGE
1	Derivatives securities trading service fee
1.1	Index futures contracts	2,700 VND/contract
1.2	Government bond futures contracts	4,500 VND/contract
III	SERVICE FEES APPLICABLE AT THE VIETNAM SECURITIES DEPOSITORY AND CLEARING CORPORATION
1	Derivatives securities clearing member registration service fee	20 million VND
2	Derivatives securities clearing member management service fee	30 million VND/member/year
3	Derivatives securities clearing service fee	2,550 VND/netting contract
4	Margin asset management service fee	0.0024% of the cumulative value of margin balance (cash + securities value at par value)/account/month (maximum not exceeding 1,600,000 VND/account/month, minimum not lower than 100,000 VND/account/month)
5	Post-trade error correction service fee for derivatives securities	500,000 VND/error correction transaction
6	Position management service fee	2,550 VND/contract/account/day