{"id":30069,"date":"2023-12-07T08:55:29","date_gmt":"2023-12-07T08:55:29","guid":{"rendered":"https:\/\/masterskills.org\/blog\/muc-chiet-khau-discount-margin-dm-trong-giao-dich-ki-qui-chung-khoan-la-gi-cong-thuc-tinh.html"},"modified":"2023-12-23T06:11:39","modified_gmt":"2023-12-22T23:11:39","slug":"muc-chiet-khau-discount-margin-dm-trong-giao-dich-ki-qui-chung-khoan-la-gi-cong-thuc-tinh","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/muc-chiet-khau-discount-margin-dm-trong-giao-dich-ki-qui-chung-khoan-la-gi-cong-thuc-tinh.html","title":{"rendered":"M\u1ee9c chi\u1ebft kh\u1ea5u (Discount Margin &#8211; DM) trong giao d\u1ecbch k\u00ed qu\u0129 ch\u1ee9ng kho\u00e1n l\u00e0 g\u00ec? C\u00f4ng th\u1ee9c t\u00ednh"},"content":{"rendered":"<div class=\"vnbcbc-body vceditor-content wi-active\" data-role=\"content\">\n<figure class=\"VCSortableInPreviewMode\" type=\"Photo\" style=\"\">\n<div><\/div><figcaption class=\"PhotoCMS_Caption\">\n<p data-placeholder=\"[nh\u1eadp ch\u00fa th\u00edch]\">Hi\u0300nh minh ho\u0323a. Ngu\u00f4\u0300n: Investopedia<\/p>\n<\/figcaption><\/figure>\n<h2><font style=\"line-height: 22px; font-size: 22px;\" color=\"#3d85c6\">M\u1ee9c chi\u1ebft kh\u1ea5u<\/font><\/h2>\n<p><b>Kha\u0301i ni\u00ea\u0323m<\/b><\/p>\n<p><b>M\u1ee9c chi\u1ebft kh\u1ea5u<\/b> trong ti\u00ea\u0301ng Anh la\u0300 <b>Discount Margin &#8211; DM.<\/b><\/p>\n<p><b>M\u1ee9c chi\u1ebft kh\u1ea5u (DM) <\/b>trong\u00a0giao d\u1ecbch k\u00ed qu\u0129\u00a0ch\u1ee9ng kho\u00e1n, l\u00e0 m\u1ee9c l\u1ee3i nhu\u1eadn k\u00ec v\u1ecdng trung b\u00ecnh c\u1ee7a ch\u1ee9ng kho\u00e1n c\u00f3 l\u00e3i su\u1ea5t th\u1ea3 n\u1ed5i\u00a0(th\u01b0\u1eddng l\u00e0 tr\u00e1i phi\u1ebfu) v\u01b0\u1ee3t tr\u1ed9i h\u01a1n c\u00e1c ch\u1ec9 s\u1ed1 c\u01a1 b\u1ea3n, ho\u1eb7c t\u1ec9 l\u1ec7 tham chi\u1ebfu c\u1ee7a ch\u1ee9ng kho\u00e1n.\u00a0<\/p>\n<p><i>Qui m\u00f4 m\u1ee9c chi\u1ebft kh\u1ea5u ph\u1ee5 thu\u1ed9c v\u00e0o gi\u00e1 c\u1ee7a ch\u1ee9ng kho\u00e1n l\u00e3i su\u1ea5t th\u1ea3 n\u1ed5i hay l\u00e3i su\u1ea5t bi\u1ebfn \u0111\u1ed5i.\u00a0<\/i><\/p>\n<p>L\u1ee3i nhu\u1eadn ho\u00e0n v\u1ed1n c\u1ee7a ch\u1ee9ng kho\u00e1n l\u00e3i su\u1ea5t th\u1ea3 n\u1ed5i thay \u0111\u1ed5i theo th\u1eddi gian, do \u0111\u00f3, m\u1ee9c chi\u1ebft kh\u1ea5u l\u00e0 m\u1ee9c \u01b0\u1edbc t\u00ednh l\u1ee3i nhu\u1eadn ch\u1ee9ng kho\u00e1n trong kho\u1ea3ng th\u1eddi gian t\u1eeb l\u00fac ph\u00e1t h\u00e0nh \u0111\u1ebfn khi\u00a0\u0111\u00e1o h\u1ea1n.  \u00a0  \u00a0\u00a0<\/p>\n<p>M\u1ee9c chi\u1ebft kh\u1ea5u c\u0169ng c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c hi\u1ec3u l\u00e0 m\u1ee9c ch\u00eanh l\u1ec7ch c\u1ee7a l\u1ee3i su\u1ea5t\u00a0tr\u00e1i phi\u1ebfu so v\u1edbi t\u1ec9 l\u1ec7 tham chi\u1ebfu.  \u00a0  \u00a0  \u00a0\u00a0<\/p>\n<h3><font style=\"line-height: 22px; font-size: 22px;\" color=\"#3d85c6\">\u0110\u1eb7c \u0111i\u1ec3m M\u1ee9c chi\u1ebft kh\u1ea5u trong giao d\u1ecbch k\u00ed qu\u0129 ch\u1ee9ng kho\u00e1n\u00a0<\/font><\/h3>\n<p>Tr\u00e1i phi\u1ebfu v\u00e0 c\u00e1c lo\u1ea1i ch\u1ee9ng kho\u00e1n c\u00f3 l\u00e3i su\u1ea5t th\u1ea3 n\u1ed5i kh\u00e1c, th\u01b0\u1eddng \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 g\u1ea7n b\u1eb1ng v\u1edbi\u00a0m\u1ec7nh gi\u00e1\u00a0c\u1ee7a ch\u00fang.\u00a0<\/p>\n<p>\u0110i\u1ec1u n\u00e0y l\u00e0 do l\u00e3i su\u1ea5t (ho\u1eb7c l\u00e3i su\u1ea5t\u00a0coupon) tr\u00ean tr\u00e1i phi\u1ebfu c\u00f3 l\u00e3i su\u1ea5t th\u1ea3 n\u1ed5i \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh theo l\u00e3i su\u1ea5t hi\u1ec7n t\u1ea1i, d\u1ef1a tr\u00ean nh\u1eefng thay \u0111\u1ed5i trong t\u1ec9 l\u1ec7 tham chi\u1ebfu c\u1ee7a tr\u00e1i phi\u1ebfu.<\/p>\n<p>S\u1ef1 kh\u00e1c nhau gi\u1eefa l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu v\u00e0 l\u1ee3i su\u1ea5t \u0111i\u1ec3m chu\u1ea9n \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 ch\u00eanh l\u1ec7ch l\u1ee3i su\u1ea5t.  C\u00e1c \u0111i\u1ec3m chu\u1ea9n \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 kh\u00e1c nhau s\u1ebd c\u00f3 c\u00e1c c\u00e1ch t\u00ednh ch\u00eanh l\u1ec7ch l\u1ee3i su\u1ea5t kh\u00e1c nhau.  \u00a0\u00a0<\/p>\n<p><b>M\u1ee9c chi\u1ebft kh\u1ea5u <\/b>l\u00e0 m\u1ed9t trong nh\u1eefng \u0111\u1ea1i l\u01b0\u1ee3ng t\u00ednh ch\u00eanh l\u1ec7ch l\u1ee3i su\u1ea5t ph\u1ed5 bi\u1ebfn nh\u1ea5t.  N\u00f3 \u01b0\u1edbc t\u00ednh m\u1ee9c ch\u00eanh l\u1ec7ch l\u1ee3i su\u1ea5t ch\u1ee9ng kho\u00e1n l\u00e3i su\u1ea5t th\u1ea3 n\u1ed5i, v\u1edbi ch\u1ec9 s\u1ed1 tham chi\u1ebfu theo gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i c\u1ee7a t\u1ea5t c\u1ea3 c\u00e1c d\u00f2ng ti\u1ec1n d\u1ef1 ki\u1ebfn trong t\u01b0\u01a1ng lai.\u00a0<\/p>\n<h3><font style=\"line-height: 22px; font-size: 22px;\" color=\"#3d85c6\">\u1ee8ng d\u1ee5ng c\u1ee7a M\u1ee9c chi\u1ebft kh\u1ea5u<\/font><\/h3>\n<p>C\u00f3 ba t\u00ecnh hu\u1ed1ng c\u01a1 b\u1ea3n li\u00ean quan \u0111\u1ebfn vi\u1ec7c s\u1eed d\u1ee5ng <b>m\u1ee9c chi\u1ebft kh\u1ea5u<\/b>:  \u00a0\u00a0<\/p>\n<p>\u00a0&#8211; N\u1ebfu gi\u00e1 c\u1ee7a ch\u1ee9ng kho\u00e1n l\u00e3i su\u1ea5t th\u1ea3 n\u1ed5i b\u1eb1ng m\u1ec7nh gi\u00e1, m\u1ee9c chi\u1ebft kh\u1ea5u c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1ebd b\u1eb1ng v\u1edbi <i>m\u1ee9c thi\u1ebft l\u1eadp ban \u0111\u1ea7u (Reset margin<\/i>).\u00a0<\/p>\n<p>\u00a0&#8211; Do xu h\u01b0\u1edbng gi\u00e1 tr\u00e1i phi\u1ebfu s\u1ebd h\u1ed9i t\u1ee5 khi c\u00e0ng g\u1ea7n \u0111\u1ebfn k\u00ec \u0111\u00e1o h\u1ea1n, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 ki\u1ebfm ph\u1ea7n l\u1ee3i nhu\u1eadn ho\u00e0n v\u1ed1n v\u01b0\u1ee3t qu\u00e1 m\u1ee9c thi\u1ebft l\u1eadp ban \u0111\u1ea7u, trong tr\u01b0\u1eddng h\u1ee3p tr\u00e1i phi\u1ebfu l\u00e3i su\u1ea5t th\u1ea3 n\u1ed5i \u0111\u01b0\u1ee3c \u0111ang \u1edf d\u01b0\u1edbi m\u1ee9c gi\u00e1 th\u1ecb tr\u01b0\u1eddng.\u00a0<\/p>\n<p>M\u1ee9c t\u1ec9 l\u1ec7 l\u1ee3i nhu\u1eadn b\u1ed5 sung c\u1ed9ng v\u1edbi m\u1ee9c thi\u1ebft l\u1eadp ban \u0111\u1ea7u s\u1ebd b\u1eb1ng v\u1edbi m\u1ee9c chi\u1ebft kh\u1ea5u.\u00a0<\/p>\n<p>\u00a0&#8211; N\u1ebfu tr\u00e1i phi\u1ebfu l\u00e3i su\u1ea5t th\u1ea3 n\u1ed5i \u0111\u01b0\u1ee3c\u00a0\u0111\u1ecbnh gi\u00e1 tr\u00ean m\u1ec7nh gi\u00e1, m\u1ee9c chi\u1ebft kh\u1ea5u s\u1ebd b\u1eb1ng t\u1ec9 l\u1ec7 tham chi\u1ebfu tr\u1eeb \u0111i thu nh\u1eadp gi\u1ea3m xu\u1ed1ng.\u00a0<\/p>\n<h3><font style=\"line-height: 22px; font-size: 22px;\" color=\"#3d85c6\">C\u00f4ng th\u1ee9c t\u00ednh M\u1ee9c chi\u1ebft kh\u1ea5u\u00a0<\/font><\/h3>\n<p>C\u00f4ng th\u1ee9c <b>m\u1ee9c chi\u1ebft kh\u1ea5u<\/b> trong giao d\u1ecbch k\u00ed qu\u0129 ch\u1ee9ng kho\u00e1n l\u00e0 m\u1ed9t ph\u01b0\u01a1ng tr\u00ecnh ph\u1ee9c t\u1ea1p c\u00f3 t\u00ednh \u0111\u1ebfn\u00a0gi\u00e1 tr\u1ecb th\u1eddi gian c\u1ee7a ti\u1ec1n, v\u00e0 th\u01b0\u1eddng c\u1ea7n s\u1eed d\u1ee5ng m\u00e1y t\u00ednh hay ph\u1ea7n m\u1ec1m t\u00e0i ch\u00ednh \u0111\u1ec3 t\u00ednh to\u00e1n m\u1ed9t c\u00e1ch ch\u00ednh x\u00e1c.\u00a0<\/p>\n<p>C\u00f3 7 bi\u1ebfn li\u00ean quan \u0111\u1ebfn c\u00f4ng th\u1ee9c t\u00ednh l\u00e0:<\/p>\n<p>\u00a0&#8211; P l\u00e0 gi\u00e1 c\u1ee7a tr\u00e1i phi\u1ebfu l\u00e3i su\u1ea5t th\u1ea3 n\u1ed5i c\u1ed9ng v\u1edbi t\u1ea5t c\u1ea3 c\u00e1c kho\u1ea3n l\u00e3i t\u00edch l\u0169y.\u00a0<\/p>\n<p>\u00a0&#8211; c (i) l\u00e0 d\u00f2ng ti\u1ec1n nh\u1eadn \u0111\u01b0\u1ee3c v\u00e0o cu\u1ed1i kho\u1ea3ng th\u1eddi gian i (k\u00ec cu\u1ed1i c\u00f9ng l\u00e0 k\u00ec th\u1ee9 n, ph\u1ea3i tr\u1ea3 s\u1ed1 ti\u1ec1n g\u1ed1c).\u00a0<\/p>\n<p>\u00a0&#8211; I (i) l\u00e0 gi\u00e1 tr\u1ecb l\u1ee3i su\u1ea5t c\u1ee7a ch\u1ec9 s\u1ed1 \u0111i\u1ec3m chu\u1ea9n gi\u1ea3 \u0111\u1ecbnh t\u1ea1i th\u1eddi gian i.<\/p>\n<p>\u00a0&#8211; I (1) l\u00e0 m\u1ee9c gi\u00e1 tr\u1ecb l\u1ee3i su\u1ea5t c\u1ee7a ch\u1ec9 s\u1ed1 \u0111i\u1ec3m chu\u1ea9n hi\u1ec7n t\u1ea1i.\u00a0<\/p>\n<p>\u00a0&#8211; d (i) l\u00e0 s\u1ed1 ng\u00e0y th\u1ef1c t\u1ebf t\u1eeb khi b\u1eaft \u0111\u1ea7u cho \u0111\u1ebfn th\u1eddi gian i, gi\u1ea3 s\u1eed v\u1edbi qui \u01b0\u1edbc l\u00e0 360 ng\u00e0y.\u00a0<\/p>\n<p>\u00a0&#8211; d (s) l\u00e0 s\u1ed1 ng\u00e0y t\u1eeb khi b\u1eaft \u0111\u1ea7u cho \u0111\u1ebfn ng\u00e0y thanh to\u00e1n cu\u1ed1i c\u00f9ng.\u00a0<\/p>\n<p>\u00a0&#8211; DM l\u00e0 m\u1ee9c chi\u1ebft kh\u1ea5u, bi\u1ebfn s\u1ed1 c\u1ea7n t\u00ecm.\u00a0<\/p>\n<p>T\u1ea5t c\u1ea3 c\u00e1c kho\u1ea3n thanh to\u00e1n coupon \u0111\u1ec1u l\u00e0 kh\u00f4ng x\u00e1c \u0111\u1ecbnh tr\u01b0\u1edbc \u0111\u01b0\u1ee3c ngo\u1ea1i tr\u1eeb l\u1ea7n thanh to\u00e1n \u0111\u1ea7u ti\u00ean, ph\u1ea3i \u0111\u01b0\u1ee3c \u01b0\u1edbc t\u00ednh \u0111\u1ec3 t\u00ednh <b>m\u1ee9c chi\u1ebft kh\u1ea5u<\/b>.\u00a0<\/p>\n<p>C\u00f4ng th\u1ee9c t\u00ednh m\u1ee9c chi\u1ebft kh\u1ea5u (DM) d\u1ef1a tr\u00ean c\u00f4ng th\u1ee9c t\u00ednh gi\u00e1 hi\u1ec7n h\u00e0nh P nh\u01b0 sau:<\/p>\n<figure class=\"VCSortableInPreviewMode noCaption\" type=\"Photo\" style=\"\">\n<div><\/div><figcaption class=\"PhotoCMS_Caption\">\n<p data-placeholder=\"[Nh\u1eadp ch\u00fa th\u00edch \u1ea3nh]\" class=\"NLPlaceholderShow\">\n<\/figcaption><\/figure>\n<p>C\u00f4ng th\u1ee9c t\u00ednh t\u1ea5t c\u1ea3 c\u00e1c k\u00ec thanh to\u00e1n t\u1eeb th\u1eddi gian b\u1eaft \u0111\u1ea7u \u0111\u1ebfn khi tr\u00e1i phi\u1ebfu \u0111\u00e1o h\u1ea1n.\u00a0 \u00a0<\/p>\n<p>(Theo Investopedia)<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"vnbcbc-sapo\" data-role=\"sapo\">\n                            M\u1ee9c chi\u1ebft kh\u1ea5u (ti\u1ebfng Anh: Discount Margin &#8211; DM) trong giao d\u1ecbch k\u00ed qu\u0129 ch\u1ee9ng kho\u00e1n l\u00e0 m\u1ee9c l\u1ee3i nhu\u1eadn k\u00ec v\u1ecdng trung b\u00ecnh c\u1ee7a ch\u1ee9ng kho\u00e1n c\u00f3 l\u00e3i su\u1ea5t th\u1ea3 n\u1ed5i (th\u01b0\u1eddng l\u00e0 tr\u00e1i phi\u1ebfu) v\u01b0\u1ee3t tr\u1ed9i h\u01a1n c\u00e1c \u0111i\u1ec3m chu\u1ea9n c\u1ee7a ch\u1ee9ng kho\u00e1n.\n                        <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30069"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=30069"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30069\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=30069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=30069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=30069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}