The State Securities Commission (SSC) is drafting a regulation on management of the OTC market, aiming to put OTC stock transactions under control.
Under the draft paper, enterprises that issue stocks will have to register and submit their records to the SSC and deposit stocks at securities depository centers. Investors will open accounts at securities companies and make transactions in one of two ways.
If they want to sell or purchase stocks but cannot find buyers or sellers, they can offer stocks for sale or advertise their needs to purchase stocks through securities companies. The orders to sell or purchase stocks will be transferred to the transaction systems at the Hanoi Center, where investors can go to in order to find partners.
If investors can find buyers or sellers, they can negotiate prices themselves, inform securities companies and the transactions will be transferred to the Hanoi Center. The center will inform the securities depository center to make clearing payments and money remittance.