Phương pháp xác định quy mô Quỹ bù trừ cho thị trường vtv2 trực tiếp bóng đá hôm nay phái sinh tại trung tâm lưu ký vtv2 trực

What is method of determining the size of trực tiếp bóng đá k+ for derivatives market at the Vietnam Securities Depository?

In Appendix 1, method of determining the size of trực tiếp bóng đá k+ issued together with Decision 115/QD-VSD in 2022 stipulates method of determining the size of trực tiếp bóng đá k+ for derivatives market at the Vietnam Securities Depository as follows:

Based on price data, trực tiếp bóng đá k+ number of positions held in trực tiếp bóng đá k+ past, VSD uses statistical probability formulas to estimate trực tiếp bóng đá k+ maximum possible loss (PML - Probable maximum loss) of clearing members with maximum price volatility is possible.

Step 1: Determine trực tiếp bóng đá k+ maximum rate of price movement in trực tiếp bóng đá k+ past

- Determine trực tiếp bóng đá k+ price set of trực tiếp bóng đá k+ futures contract (hereinafter referred to as trực tiếp bóng đá k+ futures contract for short) with trực tiếp bóng đá k+ leading month contract and trực tiếp bóng đá k+ set of prices of other types of futures contracts, including trực tiếp bóng đá k+ observed transaction prices in trực tiếp bóng đá k+ interval atthe time from trực tiếp bóng đá k+ first trading day of trực tiếp bóng đá k+ market to trực tiếp bóng đá k+ current date;

- For each set of prices:

(i) Determine trực tiếp bóng đá k+ rate of price movement as follows:

1 = _

x 2 - x 1

;

2 = _

x 3 - x 2

; ……;

n -1 =

x n - x n-1

(Xi is trực tiếp bóng đá k+ derivative's price at day i)

x 1

x 2

x n-1

(ii) In trực tiếp bóng đá k+ sequence { Δ 1 , Δ 2 , ..., Δ n-1 }, choose Δ i as Δ with trực tiếp bóng đá k+ largest value corresponding to trực tiếp bóng đá k+ largest increase in price and choose Δ j as Δ with trực tiếp bóng đá k+ smallest value corresponding to trực tiếp bóng đá k+ largest discount (if any).

- Compare trực tiếp bóng đá k+ Δ i and Δ j of trực tiếp bóng đá k+ price sets to choose Δ i - max and Δ j - min , which are 02 price movements that will be used in trực tiếp bóng đá k+ Stress test scenario:

(1) Increase scenario ( i - max )%

(2) Reduction scenario ( j - min )%

Step 2: Calculate trực tiếp bóng đá k+ loss with Stress conditions.

- Using price change in 02 scenarios to calculate position profit and loss for clearing member's accounts on a daily basis based on real data of clearing member within 06 months immediately before trực tiếp bóng đá k+ calculation time. trực tiếp bóng đá k+ formula for calculating profit and loss for 1 day according to each scenario is as follows:

Position profit and loss = Max (Number of futures contracts of trực tiếp bóng đá k+ same type of clearing member after clearing trực tiếp bóng đá k+ position; Number of futures contracts of trực tiếp bóng đá k+ largest holding account) x DSP x Contract multiplier x Price change interval by each position script

trực tiếp bóng đá k+ largest total loss will be called "Loss number in Stress test"

Step 3: Calculate trực tiếp bóng đá k+ maximum possible loss of each clearing member based on trực tiếp bóng đá k+ number of positions that these clearing members are holding (PML)

- Clearing member's basic PML = Loss in Stress test ± Loss/profit of positions of trực tiếp bóng đá k+ preceding trading day - Required margin on trực tiếp bóng đá k+ preceding trading day (trading account + trading account) client).

(Note: position loss/gain, required margin is actual data of clearing member)

- Then, determine trực tiếp bóng đá k+ total basic PML of trực tiếp bóng đá k+ 02 clearing members with trực tiếp bóng đá k+ largest PML at each trading day.

Step 4. Determination of Clearance Fund Size

This loss will be the total required contribution to trực tiếp bóng đá k+ when re-evaluating.

Step 5. Determine the required contribution obligation according to the size of trực tiếp bóng đá k+ of each clearing member

- trực tiếp bóng đá k+ contribution obligation of clearing members is determined based on:

+ trực tiếp bóng đá k+ ratio between trực tiếp bóng đá k+ required maintenance margin (MR) of clearing members to trực tiếp bóng đá k+ total MR of all clearing members in trực tiếp bóng đá k+ preceding month;

+ Size of trực tiếp bóng đá k+;

+ Minimum initial contribution level.

What is payment process to contribute/return support from trực tiếp bóng đá k+ for the derivatives market at the Vietnam Securities Depository?

In Subsection 1, Section I, Appendix 2 Process of deposit, withdrawal, separate management and return of assets contributed to trực tiếp bóng đá k+, issued together with Decision 115/QD-VSD in 2022, stipulating payment process to contribute/return support from trực tiếp bóng đá k+ for the derivatives market at the Vietnam Securities Depository as follows:

1. Payment process to contribute/return support from Clearing Fund

a) Clearing members shall transfer money to contribute to trực tiếp bóng đá k+, transfer money to return assets receiving support from trực tiếp bóng đá k+ to the VSD Clearing Fund's money account at the clearing bank.

trực tiếp bóng đá k+ field " Content of money transfer " on trực tiếp bóng đá k+ transfer order needs to follow trực tiếp bóng đá k+ following format:

(i) For trực tiếp bóng đá k+ case of minimum initial contribution:

CF//Clearing Member ID/DGBD

(ii) For additional contributions:

CF//Clearing Member ID/NBS

(iii) In case a clearing member pays money to return the support from trực tiếp bóng đá k+:

CF//Clearing Member ID/HTSD

Example: Saigon Securities Joint Stock Company, whose clearing member code is: SSI

- Pay the initial contribution to trực tiếp bóng đá k+, the contents of money transfer are as follows:

CF//SSI/DGBD

- To pay additional contributions to trực tiếp bóng đá k+, the contents of money transfer are as follows:

CF//SSI/NBS

- Pay to refund the support from trực tiếp bóng đá k+, the money transfer content is as follows:

CF//SSI/HTSD

b) After the clearing member successfully deposits money into the account, the clearing bank will send a Credit note to VSD in the form of MT910- Credit note to trực tiếp bóng đá k+ account.

Based on the telegram available from the clearing bank, VSD shall record the increase in contribution to trực tiếp bóng đá k+ for clearing members.

c) In case trực tiếp bóng đá k+ content of money transfer does not match trực tiếp bóng đá k+ required format, trực tiếp bóng đá k+ payment will not be recorded in trực tiếp bóng đá k+ system, VSD will notify trực tiếp bóng đá k+ clearing member, trực tiếp bóng đá k+ clearing member will send a written request for adjustment to VSD for processing.

What is process of submitting securities contributed to trực tiếp bóng đá k+ for the derivatives market at the Vietnam Securities Depository?

In Subsection 2, Section I, Appendix 2 Process of deposit, withdrawal, separate management and return of assets contributed to trực tiếp bóng đá k+, issued together with Decision 115/QD-VSD in 2022 stipulating process of submitting securities contributed to trực tiếp bóng đá k+ for the derivatives market at the Vietnam Securities Depository as follows:

2. Procedure for submitting securities to contribute to trực tiếp bóng đá k+

a) Clearing member shall send a request to transfer securities contributed to trực tiếp bóng đá k+ according to Form 03/QBT issued together with this Regulation from the clearing member's securities depository account to the securities account contributing to the Fund. clearing in the name of VSD.

b) VSD conducts inspection of qualified securities as prescribed in Clause 2, Article 5 of this Regulation.

c) In case of approval, within 01 working day, VSD shall transfer securities from the clearing member's securities depository account to the securities account contributing to trực tiếp bóng đá k+ in VSD's name and notify the clearing member.

d) In case of disapproval, VSD shall send a notice of refusal clearly stating trực tiếp bóng đá k+ reason.

Best Regards!