1. Members of Vietnam Securities Depository

Members of Vietnam Securities Depository include depository members and direct account holding members

2. Depository Members:

Depository Members are securities companies, commercial banks which operate in VietNam and are granted securities depository operation Certificate by SSC and accepted to be Depository Members by VSD.

2.1 Conditions of depository membership registration

a. As for commercial banks:

- Having Certificate of establishment and operation in Viet Nam

- Getting profits in the latest year, overdue loans less than 5% of total outstanding loans

- Having location, equipments for serving securities registration, depository, and settlement operations.

b. As for securities companies

- Having Certificate of establishment and operation in securities brokerage or trading

- Having location, equipments for serving securities registration, custody, and settlement operations.

2.2 Registration documents

The following documents are needed:

- Membership registration form and depository account opening request;

- Legal copy of Certificate of securities depository operation issued by SSC

- Legal copy of Business registration Certificate or Licence on establishment and operation issued by authorized organization.

- The list of Management Broad Members and staff in charge of depository activitives, signature sample, seal sample and letter of authorization for document delivering staff

- Documents indicating that the Management Broad Member and staff in charge of depository activities meet the requirements regulated in Points a, b of Item 2 of Article 2 of the Regulation on VSD Membership

- The operating process of securities depository, registration, clearing and settlement, and corporate actions for securities holders are available.

- The written notes to software and equipments used for managing investors’ accounts and for operating securities depository, registration, clearing and settlement

3. Direct account holding members:

3.1. The following institutions are entitled to register to become direct account holding members of VSD:

- State Bank

- State Treasury

- SCIC – State capital investment Corporation

- Credit institutions, insurance institutions participating in bond market organized by Stock Exchange

- Foreign central securities depositories

- Other institutions regulated by VSD

State Bank opens direct account to deposit negotiable papers of theirs and their depository clients for trading on the currency market.

State Treasury, SCIC, credit and insurance institutions open direct accounts to deposit their own securities. They have access to securities depository, registration, clearing and settlement services of VSD

3.2 Registration documents to open direct accounts:

The following documents are needed:

- Membership registration form and depository account opening request

- Legal copy of business registration Certificate or Licence on establishment and operation issued by authorized organization.

- The list of Management Broad Members and staff in charge of depository activities, signature sample, seal sample

- Letter of authorization for document delivering staff

VSD membership registration processes and procedures are regulated in the Membership Guideline attached to Decision No. 28/QĐ-VSD dated 22/4/2010 of VSD

Membership Guideline (attached).