Within just 9 days, VNDIRECT was twice reprimanded by Vietnam Securities Depository and Clearing Corporation (VSDC) for professional errors in derivatives trading.
According to VSDC, on June 23, 2025, there were 15 accounts at VNDIRECT Securities Joint Stock Company (HoSE: VND) that did not meet the required deposit assets at the time of the monitoring system. This is a serious mistake related to risk control, a key factor in operating the derivatives market.
VSDC requires VNDIRECT to strengthen control of deposit activities, ensuring compliance with current regulations to avoid repeating the situation of accounts not having enough deposit assets.
Notably, this is the second time in the month that VNDIRECT has been reprimanded by VSDC. Previously, on June 17, the company was reminded for 7 times correcting a trading error on the Ho Chi Minh City Stock Exchange (HoSE) in May. Previously, in April 2024, VNDIRECT was also warned of a similar error, showing systematic shortcomings in professional control.
Not only VNDIRECT, Vietcap Securities Joint Stock Company (HoSE: VCI) was also recently reprimanded by VSDC for 9 trading errors on HoSE and 6 errors on HNX in May. Due to the second violation in June, Vietcap was suspended from storage operations for three days, from June 18 to 20. Vietcap was previously handled for a similar error in December 2022 and January 2025.
Both Vietcap and VNDIRECT are in the leading group in terms of brokerage market share on HoSE. In the first quarter of 2025, Vietcap ranked 4th with 6.77% market share, while VNDIRECT ranked 6th with 5.26%.
In 2025, VNDIRECT aims to achieve revenue of VND 4,412 billion and pre-tax profit of VND 2,300 billion, up 8% and 10% respectively over the previous year. However, in the first quarter, the company's operating revenue only reached nearly VND1,258 billion, down 9% over the same period in 2024; net profit accordingly decreased sharply by 38%, to VND382.5 billion.
