Choosing a securities company

• Choosing a Securities Company, having securities license and trading qualification, for opening a securities account.

• Investor needs to visit preferable securities company and submit the application form to open securities trading account.

• A Securities Company will issue the Recommendation Letter on next business day, which enable applicant to open special bank accounts for securities trading in Myanmar.

• A Securities Company will check with YSX whether the applicant has duplicate securities account

Bank account

• With the recommendation Letter from respective SC, applicant can open special bank accounts for securities trading in Myanmar.

• After applicant opened the special bank accounts for securities trading, Securities Account will be opened at respective SC.

Securities Account Opening

• Required Documents for Applicant who does not reside in Myanmar

  • Passport

  • Any ID issued in respective country with the face photo (any language)

• Required Documents for Applicant who resides in Myanmar

  • Passport

  • Any ID issued in respective country with the face photo (any language)

  • Stay permit (or) residence contract in Myanmar

• Required Documents for Corporate (English written ONLY)

  • Company Registration Certificate

  • BOD Resolution (or) its equivalent letter to resolve to open Securities Account at any of Securities Companies

  • List of Directors including name & address and their ID

  • List of Major Shareholders and their ID
    (Major Shareholder means one who owns more than 10% share of respective applicant corporate)

  • Authorization letter to appoint that respective trading person and their ID.(2 trading persons can be registered at most)

  • Copy of Company Constitution

• To decide, with receiving investment advice from securities companies, which stocks, how match price, how many shares and what timing an investor places buy/sell order, through a securities company, on YSX.

• The final investment decision should be done by an investor and the investor has responsibility for the decision of stock trading and order placement by himself/herself.

Trading hours

Order types

• Market order

  • A market order is an order placed without specifying the buying or selling price.

  • Even though a market order has price priority than other limit orders and is likely to be executed, the order has risk which an investor may buy or sell shares at his/her unexpected higher or lower matching price.

• Limit order

  • A limit order is an order placed by specifying the price at which the trader seeks to buy or sell shares.

  • Even though an investor placing a limit order can avoid risk of buying/selling shares at unexpected price, an investor cannot buy/sell shares if a matching price is superior than his/her limit order price.

Price limit

• To prevent too much volatility of stock prices, YSX sets daily price limit for all stocks of listed companies.

• An upper and a lower limit price of the day is decided based on a level of a base price under the table stipulated in the Enforcement Regulations for Trading Business Regulations. A base price, in general, is the last matching price of a previous working day.

• In case where a base price is MMK 35,000, an upper limit price becomes MMK 40,000 (MMK +5,000) and a lower limit price becomes MMK 30,000 (MMK -5,000)

Order unit and tick size

• Order unit, which is a minimum amount of shares an investor is able to place on YSX’s order books of listed companies, is one (1) share.

• A tick size is the minimum stock price movement of stocks of a listed companies and the tick size is decided based on tick size table stipulated in the Enforcement Regulations for Trading Business Regulations.

Matching methods

• Price priority: The order price that is superior than other orders gets filled first and a market order has the first price priority.

• Time priority: If the price priority is same, earlier order has priority to get filled first.

• Call auction methods:

  • For each limit price recorded in the order book, the system calculates the cumulative amounts in each buy and sell order book side.

  • For a market order, each buy/sell market order is placed on the cumulative buy/sell order column of the upper limit price/lowest limit price with the superior price priority than the limit orders.

  • Comparing the totals of each order book side, a matching price is determined in the price allowing the largest number of stocks to be traded. Then, all the stocks are filled at this matching price.

  • If there are two candidate prices to be a matching price, a closer price with the last matching price or a base price becomes a matching price

• An investor is able to send his/her orders, through a securities company, to YSX anytime during trading hours and orders are filled if the orders satisfy matching requirement mentioned above.