{"id":30245,"date":"2023-12-07T09:05:31","date_gmt":"2023-12-07T09:05:31","guid":{"rendered":"https:\/\/masterskills.org\/blog\/giao-dich-quyen-chon-hoan-doi-tai-san-asset-swapped-convertible-option-transaction-ascot-la-gi.html"},"modified":"2023-12-23T06:12:30","modified_gmt":"2023-12-22T23:12:30","slug":"giao-dich-quyen-chon-hoan-doi-tai-san-asset-swapped-convertible-option-transaction-ascot-la-gi","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/giao-dich-quyen-chon-hoan-doi-tai-san-asset-swapped-convertible-option-transaction-ascot-la-gi.html","title":{"rendered":"Giao d\u1ecbch quy\u1ec1n ch\u1ecdn ho\u00e1n \u0111\u1ed5i t\u00e0i s\u1ea3n (Asset Swapped Convertible Option Transaction – ASCOT) l\u00e0 g\u00ec?"},"content":{"rendered":"
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\u1ea2nh minh h\u1ecda. Ngu\u1ed3n: Abbreviations.<\/p>\n<\/div>\n<\/div>\n

Giao d\u1ecbch quy\u1ec1n ch\u1ecdn ho\u00e1n \u0111\u1ed5i t\u00e0i s\u1ea3n<\/font><\/b><\/h2>\n

Kh\u00e1i ni\u1ec7m<\/b><\/p>\n

Giao d\u1ecbch quy\u1ec1n ch\u1ecdn ho\u00e1n \u0111\u1ed5i t\u00e0i s\u1ea3n<\/b> trong ti\u1ebfng Anh l\u00e0\u00a0Asset Swapped Convertible Option Transaction, <\/b>vi\u1ebft t\u1eaft l\u00e0\u00a0ASCOT<\/b>.<\/p>\n

Giao d\u1ecbch quy\u1ec1n ch\u1ecdn ho\u00e1n \u0111\u1ed5i t\u00e0i s\u1ea3n<\/b> l\u00e0 m\u1ed9t c\u1ea5u tr\u00fac giao d\u1ecbch, trong \u0111\u00f3 m\u1ed9t quy\u1ec1n ch\u1ecdn tr\u00ean tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 t\u00e1ch m\u1ed9t tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i th\u00e0nh hai th\u00e0nh ph\u1ea7n c\u1ee7a n\u00f3.\u00a0<\/p>\n

C\u00e1c th\u00e0nh ph\u1ea7n \u0111\u01b0\u1ee3c ph\u00e2n t\u00e1ch l\u00e0 tr\u00e1i phi\u1ebfu v\u1edbi c\u00e1c kho\u1ea3n thanh to\u00e1n phi\u1ebfu l\u00e3i th\u00f4ng th\u01b0\u1eddng v\u00e0 quy\u1ec1n ch\u1ecdn v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu c\u00f3 ch\u1ee9c n\u0103ng nh\u01b0 m\u1ed9t quy\u1ec1n ch\u1ecdn mua. C\u1ea5u tr\u00fac ASCOT cho ph\u00e9p m\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 \u0111\u01b0\u1ee3c s\u1ef1 ti\u1ebfp x\u00fac v\u1edbi quy\u1ec1n ch\u1ecdn trong chuy\u1ec3n \u0111\u1ed5i m\u00e0 kh\u00f4ng ph\u1ea3i ch\u1ecbu r\u1ee7i ro t\u00edn d\u1ee5ng \u0111\u01b0\u1ee3c th\u1ec3 hi\u1ec7n b\u1edfi tr\u00e1i phi\u1ebfu. <\/p>\n

T\u00ednh ch\u1ea5t c\u1ee7a\u00a0<\/font><\/b>Giao d\u1ecbch quy\u1ec1n ch\u1ecdn ho\u00e1n \u0111\u1ed5i t\u00e0i s\u1ea3n<\/font><\/b><\/h3>\n

M\u1ed9t giao d\u1ecbch quy\u1ec1n ch\u1ecdn ho\u00e1n \u0111\u1ed5i t\u00e0i s\u1ea3n \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n b\u1eb1ng c\u00e1ch vi\u1ebft m\u1ed9t quy\u1ec1n ch\u1ecdn ki\u1ec3u M\u1ef9 tr\u00ean tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i. \u0110i\u1ec1u n\u00e0y v\u1ec1 c\u01a1 b\u1ea3n t\u1ea1o ra m\u1ed9t quy\u1ec1n ch\u1ecdn gh\u00e9p, v\u00ec tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i th\u1ec3 hi\u1ec7n ch\u00ednh quy\u1ec1n ch\u1ecdn v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu nh\u1edd c\u00f3 t\u00ednh n\u0103ng chuy\u1ec3n \u0111\u1ed5i.\u00a0<\/p>\n

Quy\u1ec1n ch\u1ecdn ki\u1ec3u M\u1ef9\u00a0c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n b\u1edfi ch\u1ee7 s\u1edf h\u1eefu b\u1ea5t c\u1ee9 l\u00fac n\u00e0o, nh\u01b0ng gi\u00e1 th\u1ef1c hi\u1ec7n ph\u1ea3i tr\u1ea3 bao g\u1ed3m t\u1ea5t c\u1ea3 c\u00e1c chi ph\u00ed th\u00e1o g\u1ee1 vi\u1ec7c trao \u0111\u1ed5i t\u00e0i s\u1ea3n. ASCOT l\u00e0 c\u00e1c c\u00f4ng c\u1ee5 ph\u1ee9c t\u1ea1p cho ph\u00e9p c\u00e1c b\u00ean \u0111\u1ea3m nh\u1eadn vai tr\u00f2 c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ed5 ph\u1ea7n v\u00e0 ng\u01b0\u1eddi mua\/nh\u00e0 \u0111\u1ea7u t\u01b0 tr\u00e1i phi\u1ebfu r\u1ee7i ro t\u00edn d\u1ee5ng trong nh\u1eefng g\u00ec ban \u0111\u1ea7u \u0111\u01b0\u1ee3c b\u00e1n d\u01b0\u1edbi d\u1ea1ng c\u00f4ng c\u1ee5 k\u1ebft h\u1ee3p – ch\u00ednh l\u00e0 tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i.<\/p>\n

C\u00e1c nh\u00e0 giao d\u1ecbch tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i ph\u1ea3i ch\u1ecbu hai lo\u1ea1i r\u1ee7i ro. M\u1ed9t l\u00e0 r\u1ee7i ro t\u00edn d\u1ee5ng v\u1ed1n c\u00f3 trong ph\u1ea7n tr\u00e1i phi\u1ebfu c\u1ee7a kho\u1ea3n \u0111\u1ea7u t\u01b0. Hai l\u00e0 s\u1ef1 bi\u1ebfn \u0111\u1ed9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng \u0111\u1ed1i v\u1edbi gi\u00e1 c\u1ed5 phi\u1ebfu c\u1ee7a c\u01a1 s\u1edf, v\u00ec n\u00f3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn vi\u1ec7c quy\u1ec1n ch\u1ecdn chuy\u1ec3n \u0111\u1ed5i c\u00f3 b\u1ea5t k\u00ec gi\u00e1 tr\u1ecb n\u00e0o hay kh\u00f4ng.\u00a0<\/p>\n

H\u00e3y gi\u1ea3 s\u1eed nh\u00e0 giao d\u1ecbch tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i mu\u1ed1n t\u1eadp trung v\u00e0o g\u00f3c \u0111\u1ed9 v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu c\u1ee7a danh m\u1ee5c tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i c\u1ee7a h\u1ecd. \u0110\u1ec3 l\u00e0m \u0111\u01b0\u1ee3c \u0111i\u1ec1u n\u00e0y, th\u01b0\u01a1ng nh\u00e2n b\u00e1n tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i cho m\u1ed9t ng\u00e2n h\u00e0ng \u0111\u1ea7u t\u01b0 \u2013 \u0111\u01a1n v\u1ecb s\u1ebd l\u00e0 trung gian trong giao d\u1ecbch.<\/p>\n

Ng\u00e2n h\u00e0ng \u0111\u1ea7u t\u01b0 c\u1ea5u tr\u00fac ASCOT b\u1eb1ng c\u00e1ch vi\u1ebft m\u1ed9t quy\u1ec1n ch\u1ecdn ki\u1ec3u M\u1ef9 tr\u00ean ph\u1ea7n chuy\u1ec3n \u0111\u1ed5i c\u1ee7a tr\u00e1i phi\u1ebfu v\u00e0 b\u00e1n l\u1ea1i cho ng\u01b0\u1eddi giao d\u1ecbch tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i. Ph\u1ea7n tr\u00e1i phi\u1ebfu c\u1ee7a tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i v\u1edbi c\u00e1c kho\u1ea3n thanh to\u00e1n c\u1ee7a n\u00f3 sau \u0111\u00f3 \u0111\u01b0\u1ee3c b\u00e1n cho m\u1ed9t b\u00ean kh\u00e1c – ng\u01b0\u1eddi s\u1eb5n s\u00e0ng ch\u1ea5p nh\u1eadn r\u1ee7i ro t\u00edn d\u1ee5ng \u0111\u1ec3 \u0111\u1ed5i l\u1ea5y l\u1ee3i nhu\u1eadn c\u1ed1 \u0111\u1ecbnh. Th\u00e0nh ph\u1ea7n tr\u00e1i phi\u1ebfu c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c chia th\u00e0nh c\u00e1c tr\u00e1i phi\u1ebfu m\u1ec7nh gi\u00e1 nh\u1ecf h\u01a1n v\u00e0 \u0111\u01b0\u1ee3c b\u00e1n cho nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0. <\/p>\n

Ph\u00e2n bi\u1ec7t Giao d\u1ecbch quy\u1ec1n ch\u1ecdn ho\u00e1n \u0111\u1ed5i t\u00e0i s\u1ea3n v\u00e0 Qu\u0129 ph\u00f2ng h\u1ed9 (Hedge Funds)<\/font><\/b><\/h3>\n

Khi m\u1ed9t tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i b\u1ecb lo\u1ea1i b\u1ecf r\u1ee7i ro t\u00edn d\u1ee5ng th\u00f4ng qua ho\u00e1n \u0111\u1ed5i t\u00e0i s\u1ea3n, ng\u01b0\u1eddi gi\u1eef quy\u1ec1n ch\u1ecdn s\u1ebd c\u00f3 m\u1ed9t quy\u1ec1n ch\u1ecdn d\u1ec5 m\u1ea5t – nh\u01b0ng c\u00f3 kh\u1ea3 n\u0103ng r\u1ea5t c\u00f3 gi\u00e1 tr\u1ecb – ASCOT, c\u1ee5 th\u1ec3 l\u00e0 ph\u1ea7n v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu, \u0111\u01b0\u1ee3c mua v\u00e0 b\u00e1n b\u1edfi c\u00e1c qu\u0129 \u0111\u1ea7u t\u01b0 thanh kho\u1ea3n s\u1eed d\u1ee5ng chi\u1ebfn l\u01b0\u1ee3c ch\u00eanh l\u1ec7ch gi\u00e1 chuy\u1ec3n \u0111\u1ed5i.\u00a0<\/p>\n

C\u00e1c\u00a0qu\u0129 ph\u00f2ng h\u1ed9\u00a0c\u00f3 th\u1ec3 d\u1ec5 d\u00e0ng t\u0103ng \u0111\u00f2n b\u1ea9y c\u1ee7a danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a h\u1ecd do b\u1ea3n ch\u1ea5t c\u1ee7a quy\u1ec1n ch\u1ecdn \u0111\u01b0\u1ee3c g\u1ed9p trong ASCOT, khi\u1ebfn cho b\u00ean tr\u00e1i phi\u1ebfu \u00edt sinh l\u1ee3i h\u01a1n v\u00e0 r\u1ee7i ro t\u00edn d\u1ee5ng c\u1ee7a n\u00f3 \u0111\u01b0\u1ee3c lo\u1ea1i b\u1ecf ra kh\u1ecfi ph\u01b0\u01a1ng tr\u00ecnh.<\/p>\n

(Theo\u00a0Investopedia<\/i>)<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Giao d\u1ecbch quy\u1ec1n ch\u1ecdn ho\u00e1n \u0111\u1ed5i t\u00e0i s\u1ea3n (ti\u1ebfng Anh: Asset Swapped Convertible Option Transaction – ASCOT) l\u00e0 m\u1ed9t c\u1ea5u tr\u00fac giao d\u1ecbch, trong \u0111\u00f3 m\u1ed9t quy\u1ec1n ch\u1ecdn tr\u00ean tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 t\u00e1ch m\u1ed9t tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i th\u00e0nh hai th\u00e0nh ph\u1ea7n c\u1ee7a n\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\/30245"}],"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=30245"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30245\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=30245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=30245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=30245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}