HNX to hold pilot trading for derivatives market
The Hà Nội Stock Exchange will hold a pilot test to demonstrate the trading of derivatives market on Wednesday. — Photo ndh.vn
HÀ NỘI — The Hà Nội Stock Exchange (HNX) will organise a pilot trading session on Wednesday to test and demonstrate the trading system of the derivatives market.
The pilot trading session, based on co-operation between HNX and Sai Gon Securities Inc, will be watched by reporters and journalists.
Earlier this month, HNX vice general director Nguyễn Thị Hoàng Lan said the derivatives market would operate in August and all preparations for the market had been completed.
The first derivatives product to be launched is the VN 三0 Index futures contract. Later products include the HNX 三0 Index and five-year Government bond futures contracts.
The VN 三0 and HNX 三0 indices track the performance of the 三0 largest stocks on the HCM and Hà Nội stock exchanges.
The HNX in May and June approved market trading membership for six brokerages, including Sai Gon Securities, HCM City Securities, Viet Capital Securities and VPBank Securities, and connected the system with these brokerages.
The most important factor for the derivatives market is margin lending. The term “margin lending” for derivatives products is different from that for co妹妹on stocks.
On the co妹妹on stock market, margin lending means an investor must deposit the targeted stock with the brokerage company to purchase the targeted stock.
In the derivatives market, an investor must make the deposit to the brokerage company to exchange future contracts and settle their daily trading activities. — VNS
