It was revealed that a certain brokerage closed 500,000 accounts in one month
In October, the total number of newly opened accounts was 167,659 accounts and the total number of closed accounts was 545,386 accounts. The Vietnam Securities Depository and Clearing Corporation (VSDC) has just released official information on the number of accounts. As of October 31, 2023, according to VSDC system management.
VSDC data shows that the number of accounts as of the end of October has dropped significantly from the end of September, from 7.82 million accounts to 7.45 million accounts at the end of October, a decrease of nearly 380,000 accounts. The magnitude of the decrease lies in the number of accounts of domestic individual investors.
On the contrary, the remaining three investor groups, including: domestic institutions, individuals and overseas institutions, all opened additional accounts in the past month.
In October, the total number of newly opened accounts was 167,659 accounts, and the number of closed accounts was 545,386 accounts. Among them, the largest number of closed accounts was MB Securities Co., Ltd. (HN:)-MBS, with 543,753 accounts. It can be seen that, excluding the number of newly opened accounts, the total number of securities accounts still “evaporated” by the end of October by nearly 380,000 accounts. The number of securities trading accounts closed last month was higher than the total number of new accounts opened in the previous two months.
Through discussions with MBS, VSDC stated that MBS is reviewing and proactively closing accounts that were previously opened but did not generate transactions.
In May and June 2022, the number of new accounts opened in the Vietnamese stock market surged, with approximately 500,000 accounts opened every month.
The number of accounts fell sharply while regulators reviewed data on stock trading participants. In mid-October, the government asked the State Securities Regulatory Commission to access the national population database to clean up data on people involved in stock trading. Specifically, users’ information will be compared to ensure a match and eliminate false, duplicate or falsified data. According to government requirements, the project needs to be completed in November this year.
Previously, on September 23, the Government Office also conveyed the instructions of Deputy Prime Minister Tran Liu Quang, instructing the State Securities Regulatory Commission, exchanges, and Vietnam Securities Depository and Clearing Corporation to complete the work of connecting the national population database, electronic identity authentication and other working systems, and clean up those involved in stock transactions. Personnel data.
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