{"id":30099,"date":"2023-12-07T08:57:08","date_gmt":"2023-12-07T08:57:08","guid":{"rendered":"https:\/\/masterskills.org\/blog\/qui-tac-danh-dau-len-uptick-rule-la-gi-hieu-ve-qui-tac-danh-dau-len.html"},"modified":"2023-12-23T06:11:43","modified_gmt":"2023-12-22T23:11:43","slug":"qui-tac-danh-dau-len-uptick-rule-la-gi-hieu-ve-qui-tac-danh-dau-len","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/qui-tac-danh-dau-len-uptick-rule-la-gi-hieu-ve-qui-tac-danh-dau-len.html","title":{"rendered":"Qui t\u1eafc \u0111\u00e1nh d\u1ea5u l\u00ean (Uptick rule) l\u00e0 g\u00ec? Hi\u1ec3u v\u1ec1 Qui t\u1eafc \u0111\u00e1nh d\u1ea5u l\u00ean"},"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 \u1ea3nh]\" class=\"\">H\u00ecnh minh h\u1ecda<\/p>\n<\/figcaption><\/figure>\n<h2><font style=\"line-height: 22px; font-size: 22px;\" color=\"#3d85c6\">Qui t\u1eafc \u0111\u00e1nh d\u1ea5u l\u00ean (Uptick rule)<\/font><\/h2>\n<p><b>Kh\u00e1i ni\u1ec7m<br \/><\/b><\/p>\n<p><b>Qui t\u1eafc \u0111\u00e1nh d\u1ea5u l\u00ean<\/b> trong ti\u1ebfng Anh l\u00e0 <b>Uptick rule<\/b>, hay c\u00f2n c\u00f3 t\u00ean g\u1ecdi kh\u00e1c l\u00e0 &#8220;Plus tick rule&#8221; &#8211; Qui t\u1eafc \u0111\u00e1nh d\u1ea5u c\u1ed9ng.<\/p>\n<p><i>Qui t\u1eafc \u0111\u00e1nh d\u1ea5u l\u00ean<\/i> l\u00e0 qui t\u1eafc \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp b\u1edfi \u1ee6y ban Ch\u1ee9ng kho\u00e1n v\u00e0 Giao d\u1ecbch M\u1ef9 (SEC), \u0111\u00f2i h\u1ecfi vi\u1ec7c b\u00e1n kh\u1ed1ng ph\u1ea3i \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n v\u1edbi gi\u00e1 cao h\u01a1n giao d\u1ecbch tr\u01b0\u1edbc \u0111\u00f3.<\/p>\n<p>C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 tham gia b\u00e1n kh\u1ed1ng khi h\u1ecd d\u1ef1 \u0111o\u00e1n gi\u00e1 ch\u1ee9ng kho\u00e1n s\u1ebd gi\u1ea3m. Chi\u1ebfn thu\u1eadt li\u00ean quan \u0111\u1ebfn vi\u1ec7c mua cao v\u00e0 b\u00e1n th\u1ea5p. M\u1eb7c d\u00f9 b\u00e1n kh\u1ed1ng c\u00f3 th\u1ec3 c\u1ea3i thi\u1ec7n thanh kho\u1ea3n th\u1ecb tr\u01b0\u1eddng v\u00e0 hi\u1ec7u qu\u1ea3 \u0111\u1ecbnh gi\u00e1, nh\u01b0ng n\u00f3 c\u0169ng c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng kh\u00f4ng \u0111\u00fang c\u00e1ch l\u00e0m cho gi\u1ea3m gi\u00e1 ch\u1ee9ng kho\u00e1n ho\u1eb7c \u0111\u1ea9y nhanh s\u1ef1 suy gi\u1ea3m c\u1ee7a th\u1ecb tr\u01b0\u1eddng.<\/p>\n<h3><font style=\"line-height: 22px; font-size: 22px;\" color=\"#3d85c6\">Hi\u1ec3u v\u1ec1 Qui t\u1eafc \u0111\u00e1nh d\u1ea5u l\u00ean<\/font><\/h3>\n<p><i>Qui t\u1eafc \u0111\u00e1nh d\u1ea5u l\u00ean<\/i> l\u00e0 m\u1ed9t <span>qui t\u1eafc<\/span> giao d\u1ecbch ch\u1ee9ng kho\u00e1n \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 qu\u1ea3n l\u00ed giao d\u1ecbch b\u00e1n kh\u1ed1ng tr\u00ean th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh. Qui t\u1eafc n\u00e0y y\u00eau c\u1ea7u m\u1ecdi giao d\u1ecbch b\u00e1n kh\u1ed1ng ph\u1ea3i \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n \u1edf m\u1ed9t m\u1ee9c gi\u00e1 cao h\u01a1n gi\u00e1 c\u1ee7a phi\u00ean giao d\u1ecbch tr\u01b0\u1edbc \u0111\u00f3.\u00a0<\/p>\n<p>Qui t\u1eafc n\u00e0y \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111\u01b0a ra trong Lu\u1eadt <span>s\u00e0n giao d\u1ecbch<\/span> 1934 \u0111i\u1ec3m 10a-1. Qui t\u1eafc n\u00e0y ng\u0103n ng\u1eeba c\u00e1c nh\u00e0 giao d\u1ecbch b\u00e1n kh\u1ed1ng th\u00eam v\u00e0o \u0111\u00e0 xu\u1ed1ng gi\u00e1 khi gi\u00e1 c\u1ee7a m\u1ed9t t\u00e0i s\u1ea3n \u0111\u00e3 x\u00e1c l\u1eadp xu h\u01b0\u1edbng gi\u1ea3m r\u00f5 r\u00e0ng.\u00a0<\/p>\n<p>SEC \u0111\u00e3 \u0111\u01b0a ra m\u1ed9t quy\u1ebft \u0111\u1ecbnh g\u00e2y tranh c\u00e3i l\u00e0 x\u00f3a b\u1ecf <span>qui t\u1eafc<\/span> n\u00e0y v\u00e0o th\u00e1ng 6\/2007 sau khi ph\u00e2n t\u00edch c\u1ee7a h\u1ecd ch\u1ec9 ra r\u1eb1ng <span>qui t\u1eafc<\/span> \u0111\u00e1nh d\u1ea5u \u00edt c\u00f3 kh\u1ea3 n\u0103ng ng\u0103n ng\u1eeba vi\u1ec7c thao t\u00fang gi\u00e1 c\u1ed5 phi\u1ebfu. Tuy nhi\u00ean, Ch\u1ee7 t\u1ecbch C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang M\u1ef9 (FED) Ben Bernanke cho r\u1eb1ng &#8220;n\u1ebfu <span>qui t\u1eafc<\/span> n\u00e0y v\u1eabn c\u00f2n \u00e1p d\u1ee5ng, r\u1ea5t c\u00f3 th\u1ec3 s\u1ebd c\u00f3 t\u00e1c d\u1ee5ng ng\u0103n ch\u1eb7n kh\u1ee7ng ho\u1ea3ng x\u1ea3y ra tr\u00ean th\u1ecb tr\u01b0\u1eddng&#8221;.<\/p>\n<p>C\u00e1c qui \u0111\u1ecbnh ph\u00e1p l\u00ed \u0111\u1ea7u ti\u00ean v\u1ec1 ho\u1ea1t \u0111\u1ed9ng b\u00e1n kh\u1ed1ng ch\u1ee9ng kho\u00e1n \u1edf H\u1ed3ng K\u00f4ng \u0111\u01b0\u1ee3c \u0111\u01b0a ra v\u00e0o n\u0103m 1994. Theo qui \u0111\u1ecbnh n\u00e0y, 17 lo\u1ea1i ch\u1ee9ng kho\u00e1n c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n b\u00e1n kh\u1ed1ng v\u00e0 m\u1ed9t giao d\u1ecbch b\u00e1n kh\u1ed1ng s\u1ebd \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n \u1edf m\u1ee9c gi\u00e1 th\u1ea5p h\u01a1n m\u1ee9c gi\u00e1 \u0111\u1eb7t b\u00e1n (g\u1ecdi l\u00e0 qui \u0111\u1ecbnh &#8220;tick rule&#8221;). Qui \u0111\u1ecbnh n\u00e0y \u0111\u01b0\u1ee3c s\u1eeda \u0111\u1ed5i v\u00e0o n\u0103m 1996 v\u1edbi m\u1ed9t s\u1ed1 l\u01b0\u1ee3ng l\u1edbn ch\u1ee9ng kho\u00e1n ch\u1ec9 \u0111\u1ecbnh t\u0103ng l\u00ean v\u00e0 b\u00e3i b\u1ecf <span>qui \u0111\u1ecbnh<\/span> &#8220;tick rule&#8221;. &#8220;Tick rule&#8221; l\u1ea1i \u0111\u01b0\u1ee3c \u00e1p d\u1ee5ng l\u1ea1i v\u00e0o 7\/9\/1998 v\u00ec nh\u1eefng thay \u0111\u1ed5i c\u1ee7a t\u00ecnh h\u00ecnh th\u1ecb tr\u01b0\u1eddng. <\/p>\n<p>C\u00e1c <span>qui \u0111\u1ecbnh<\/span> ph\u00e1p l\u00ed hi\u1ec7n t\u1ea1i \u00e1p d\u1ee5ng \u1edf H\u1ed3ng K\u00f4ng c\u00f3 th\u1ec3 t\u00f3m g\u1ecdn \u1edf 4 \u0111\u1eb7c \u0111i\u1ec3m ch\u00ednh l\u00e0:<\/p>\n<p>+ B\u00e1n kh\u1ed1ng v\u00f4 c\u0103n c\u1ee9 b\u1ecb c\u1ea5m ho\u00e0n to\u00e0n, do \u0111\u00f3 c\u00e1c \u0111\u1ed1i t\u01b0\u1ee3ng tham gia giao d\u1ecbch b\u00e1n kh\u1ed1ng ph\u1ea3i thu x\u1ebfp \u0111i m\u01b0\u1ee3n ch\u1ee9ng kho\u00e1n tr\u01b0\u1edbc khi th\u1ef1c hi\u1ec7n giao d\u1ecbch. <\/p>\n<p>+ Giao d\u1ecbch b\u00e1n kh\u1ed1ng s\u1ebd b\u1ecb gi\u1edbi h\u1ea1n \u0111\u1ed1i v\u1edbi m\u1ed9t s\u1ed1 ch\u1ee9ng kho\u00e1n \u0111\u01b0\u1ee3c\u00a0S\u00e0n giao d\u1ecbch ch\u1ee9ng kho\u00e1n H\u1ed3ng K\u00f4ng (SEHK)\u00a0cho ph\u00e9p th\u1ef1c hi\u1ec7n. <\/p>\n<p>+ \u0110\u1ec3 ph\u00e2n bi\u1ec7t m\u1ed9t giao d\u1ecbch b\u00e1n kh\u1ed1ng d\u1ec5 d\u00e0ng, SEHK y\u00eau c\u1ea7u c\u00e1c \u0111\u1ed1i t\u01b0\u1ee3ng th\u1ef1c hi\u1ec7n b\u00e1n kh\u1ed1ng tr\u00ean <span>s\u00e0n giao d\u1ecbch<\/span> ph\u1ea3i \u0111\u00e1nh d\u1ea5u tr\u00ean m\u1ed7i m\u1ed9t phi\u1ebfu \u0111\u1eb7t l\u1ec7nh b\u00e1n kh\u1ed1ng m\u1ed7i khi n\u1ed9p phi\u1ebfu l\u1ec7nh cho SEHK.<\/p>\n<p>+ Theo <b><span>qui t\u1eafc<\/span> \u0111\u00e1nh d\u1ea5u l\u00ean<\/b> (uptick rule), giao d\u1ecbch b\u00e1n kh\u1ed1ng kh\u00f4ng \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n \u1edf m\u1ee9c gi\u00e1 th\u1ea5p h\u01a1n m\u1ee9c gi\u00e1 \u0111\u1eb7t b\u00e1n t\u1ed1t nh\u1ea5t (the best ask price) m\u00e0 SEHK \u0111\u01b0a ra. M\u1ee5c \u0111\u00edch c\u1ee7a vi\u1ec7c \u0111\u01b0a ra <span>qui \u0111\u1ecbnh<\/span> n\u00e0y c\u1ee7a SEHK l\u00e0 nh\u1eb1m ng\u0103n ch\u1eb7n vi\u1ec7c b\u00e1n kh\u1ed1ng g\u00e2y ra m\u1ed9t hi\u1ec7u \u1ee9ng b\u1ea5t th\u01b0\u1eddng l\u00ean gi\u00e1 th\u1ecb tr\u01b0\u1eddng. <\/p>\n<p>T\u1ea1i th\u1ecb tr\u01b0\u1eddng ch\u00e2u \u00c2u, k\u1ec3 t\u1eeb ng\u00e0y 1\/11\/2012, theo <span>Qui \u0111\u1ecbnh<\/span> s\u1ed1 236\/2012 c\u1ee7a Ngh\u1ecb vi\u1ec7n v\u00e0 H\u1ed9i \u0111\u1ed3ng ch\u00e2u \u00c2u ng\u00e0y 14\/3\/2012, c\u1ed5 phi\u1ebfu ni\u00eam y\u1ebft t\u1ea1i c\u00e1c s\u00e0n ch\u1ee9ng kho\u00e1n c\u1ee7a 27 n\u01b0\u1edbc thu\u1ed9c Li\u00ean minh ch\u00e2u \u00c2u (EU) bu\u1ed9c ph\u1ea3i minh b\u1ea1ch th\u00f4ng tin v\u1ec1 th\u1ecb tr\u01b0\u1eddng ni\u00eam y\u1ebft, l\u01b0\u1ee3ng b\u00e1n kh\u1ed1ng.\u00a0<\/p>\n<p>N\u1ebfu l\u01b0\u1ee3ng b\u00e1n kh\u1ed1ng t\u1eeb 0,2% \u0111\u1ebfn 0,4% l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh c\u1ee7a c\u00f4ng ty th\u00ec th\u00f4ng tin c\u1ea7n \u0111\u01b0\u1ee3c b\u00e1o c\u00e1o cho c\u01a1 quan qu\u1ea3n l\u00ed, c\u00f2n n\u1ebfu tr\u00ean 0,5% th\u00ec th\u00f4ng tin c\u1ea7n \u0111\u01b0\u1ee3c b\u00e1o c\u00e1o cho c\u01a1 quan qu\u1ea3n l\u00ed \u0111\u1ed3ng th\u1eddi v\u1edbi vi\u1ec7c c\u00f4ng khai tr\u00ean th\u1ecb tr\u01b0\u1eddng.\u00a0<\/p>\n<p>Ri\u00eang \u0111\u1ed1i v\u1edbi b\u00e1n kh\u1ed1ng tr\u00e1i phi\u1ebfu ch\u00ednh ph\u1ee7 EU, <span>qui \u0111\u1ecbnh<\/span> v\u1ec1 b\u00e1n kh\u1ed1ng chia l\u00e0m hai m\u1ee9c. N\u1ebfu t\u1ed5ng gi\u00e1 tr\u1ecb tr\u00e1i phi\u1ebfu ph\u00e1t h\u00e0nh d\u01b0\u1edbi 500 t\u1ec9 euro, khi b\u00e1n kh\u1ed1ng 0,1% tr\u1edf l\u00ean s\u1ebd ph\u1ea3i c\u00f4ng b\u1ed1 th\u00f4ng tin, c\u00f2n n\u1ebfu tr\u00ean 500 t\u1ec9 euro, khi b\u00e1n kh\u1ed1ng 0,5% tr\u1edf l\u00ean m\u1edbi ph\u1ea3i c\u00f4ng b\u1ed1 th\u00f4ng tin.\u00a0<\/p>\n<p>\u0110\u1eb7c bi\u1ec7t, theo qui \u0111\u1ecbnh n\u00e0y, EU s\u1ebd c\u1ea5m b\u00e1n kh\u1ed1ng v\u00f4 c\u0103n c\u1ee9, c\u1ea5m b\u00e1n kh\u1ed1ng trong c\u00e1c tr\u01b0\u1eddng h\u1ee3p: \u0111e d\u1ecda ho\u1ea1t \u0111\u1ed9ng v\u00e0 t\u00ednh to\u00e0n v\u1eb9n c\u1ee7a th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh, \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn s\u1ef1 \u1ed5n \u0111\u1ecbnh c\u1ee7a m\u1ed9t ph\u1ea7n hay to\u00e0n b\u1ed9 h\u1ec7 th\u1ed1ng t\u00e0i ch\u00ednh EU, c\u00e1c c\u00e1ch th\u1ee9c b\u00e1n kh\u1ed1ng kh\u00f4ng theo qui \u0111\u1ecbnh ph\u00e1p lu\u1eadt c\u1ee7a EU. Gi\u1edbi \u0111\u1ea7u t\u01b0 v\u00e0 giao d\u1ecbch, qu\u1ea3n l\u00ed t\u00e0i s\u1ea3n t\u00e0i ch\u00ednh \u1edf \u0111\u00e2y ph\u1ea3n \u0111\u1ed1i gay g\u1eaft nh\u1eefng qui \u0111\u1ecbnh n\u00e0y v\u00ec h\u1ecd cho r\u1eb1ng ch\u00fang c\u00f3 th\u1ec3 l\u00e0m x\u00e1o tr\u1ed9n v\u00e0 th\u1eadm ch\u00ed l\u00e0m gi\u1ea3m t\u00ednh thanh kho\u1ea3n tr\u00ean th\u1ecb tr\u01b0\u1eddng.<\/p>\n<p><i>(T\u00e0i li\u1ec7u tham kh\u1ea3o: investopedia.com, ssc.gov.vn)<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"vnbcbc-sapo\" data-role=\"sapo\">\n                            Qui t\u1eafc \u0111\u00e1nh d\u1ea5u l\u00ean (ti\u1ebfng Anh: Uptick rule) l\u00e0 qui t\u1eafc \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp b\u1edfi \u1ee6y ban Ch\u1ee9ng kho\u00e1n v\u00e0 Giao d\u1ecbch M\u1ef9 (SEC), \u0111\u00f2i h\u1ecfi vi\u1ec7c b\u00e1n kh\u1ed1ng ph\u1ea3i \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n v\u1edbi gi\u00e1 cao h\u01a1n giao d\u1ecbch tr\u01b0\u1edbc \u0111\u00f3.\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\/30099"}],"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=30099"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30099\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=30099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=30099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=30099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}