{"id":31048,"date":"2023-12-07T10:17:31","date_gmt":"2023-12-07T10:17:31","guid":{"rendered":"https:\/\/masterskills.org\/blog\/hop-dong-hoan-doi-swap-contract-la-gi-dac-diem.html"},"modified":"2023-12-23T07:24:42","modified_gmt":"2023-12-23T00:24:42","slug":"hop-dong-hoan-doi-swap-contract-la-gi-dac-diem","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/hop-dong-hoan-doi-swap-contract-la-gi-dac-diem.html","title":{"rendered":"H\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i (Swap Contract) l\u00e0 g\u00ec? \u0110\u1eb7c \u0111i\u1ec3m"},"content":{"rendered":"<div class=\"vnbcbc-body vceditor-content wi-active\" data-role=\"content\">\n<p style=\"display: none;\" class=\"\">\n<div class=\"VCSortableInPreviewMode\" type=\"Photo\" style=\"\">\n<div><\/div>\n<div class=\"PhotoCMS_Caption\">\n<p><i>H\u00ecnh minh h\u1ecda (Ngu\u1ed3n: K\u1ebf to\u00e1n)<\/i><\/p>\n<\/div>\n<\/div>\n<h2><font style=\"line-height: 22px; font-size: 22px;\" color=\"#3d85c6\">H\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i (Swap Contract)<\/font><\/h2>\n<p class=\"\"><b>Kh\u00e1i ni\u1ec7m<\/b><\/p>\n<p class=\"\"><b>H\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i<\/b> trong ti\u1ebfng Anh g\u1ecdi l\u00e0 <b>Swap Contract<\/b>.<\/p>\n<p class=\"\"><b>H\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i<\/b> l\u00e0 m\u1ed9t th\u1ecfa thu\u1eadn d\u1ea1ng h\u1ee3p \u0111\u1ed3ng gi\u1eefa hai b\u00ean \u0111\u1ed1i t\u00e1c, theo \u0111\u00f3 c\u00e1c b\u00ean \u0111\u1ed3ng \u00fd th\u1ef1c hi\u1ec7n c\u00e1c kho\u1ea3n thanh to\u00e1n \u0111\u1ecbnh k\u00ec cho nhau, hay l\u00e0 \u0111\u1ed3ng \u00fd trao \u0111\u1ed5i c\u00e1c lu\u1ed3ng ti\u1ec1n trong t\u01b0\u01a1ng lai theo m\u1ed9t ph\u01b0\u01a1ng th\u1ee9c \u0111\u00e3 \u0111\u1ecbnh s\u1eb5n v\u00e0 trong m\u1ed9t kho\u1ea3n th\u1eddi gian x\u00e1c \u0111\u1ecbnh tr\u01b0\u1edbc.\u00a0<\/p>\n<p class=\"\"><b>H\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i<\/b> c\u00f3 hi\u1ec7u l\u1ef1c t\u1eeb ng\u00e0y kh\u1edfi \u0111\u1ea7u (c\u00f2n \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 ng\u00e0y \u0111\u1ecbnh gi\u00e1) v\u00e0 ch\u1ea5m d\u1ee9t v\u00e0o ng\u00e0y k\u1ebft th\u00fac (hay c\u00f2n g\u1ecdi l\u00e0 ng\u00e0y \u0111\u00e1o h\u1ea1n) c\u1ee7a h\u1ee3p \u0111\u1ed3ng.\u00a0<\/p>\n<h3><font style=\"line-height: 22px; font-size: 22px;\" color=\"#3d85c6\">C\u00e1c \u0111\u1eb7c \u0111i\u1ec3m c\u1ee7a h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i<\/font><\/h3>\n<p class=\"\">C\u1ea7n l\u01b0u \u00fd l\u00e0 r\u1ea5t kh\u00f3 thu x\u1ebfp m\u1ed9t h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i tr\u1ef1c ti\u1ebfp hai b\u00ean l\u00e0 nh\u1eefng ng\u01b0\u1eddi s\u1eed d\u1ee5ng s\u1ea3n ph\u1ea9m cu\u1ed1i c\u00f9ng.\u00a0<\/p>\n<p class=\"\">M\u1ed9t c\u01a1 c\u1ea5u hi\u1ec7u qu\u1ea3 h\u01a1n c\u00f3 s\u1ef1 tham gia c\u1ee7a m\u1ed9t \u0111\u1ecbnh ch\u1ebf t\u00e0i ch\u00ednh trung gian &#8211; g\u1ecdi l\u00e0 t\u1ed5 ch\u1ee9c kinh doanh h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i, nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng ho\u1eb7c ng\u00e2n h\u00e0ng giao d\u1ecbch h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i \u0111\u1ee9ng gi\u1eefa v\u00e0 \u0111\u00f3ng vai tr\u00f2 k\u1ebft n\u1ed1i hai b\u00ean s\u1eed d\u1ee5ng cu\u1ed1i c\u00f9ng, t\u1ee9c l\u00e0 c\u00e1c \u0111\u1ed1i t\u00e1c c\u1ee7a h\u1ee3p \u0111\u1ed3ng giao d\u1ecbch h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i h\u01b0\u1edfng l\u1ee3i t\u1eeb ch\u00eanh l\u1ec7ch gi\u1eefa gi\u00e1 ch\u00e0o mua v\u00e0 gi\u00e1 ch\u00e0o b\u00e1n m\u00e0 h\u1ecd \u0111\u01b0a ra cho c\u00e1c b\u00ean nh\u1eb1m x\u00e1c \u0111\u1ecbnh c\u00e1c lu\u1ed3ng ti\u1ec1n c\u1ee7a h\u1ee3p \u0111\u1ed3ng.<\/p>\n<p class=\"\">Vi\u1ec7c s\u1eed d\u1ee5ng nh\u00e0 giao d\u1ecbch h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i, hay l\u00e0 t\u1ed5 ch\u1ee9c trung gian, c\u00f3 l\u1ee3i cho c\u1ea3 hai b\u00ean tham gia h\u1ee3p \u0111\u1ed3ng v\u1edbi hai l\u00ed do sau:<\/p>\n<p class=\"\">&#8211; S\u1eed d\u1ee5ng trung gian l\u00e0m gi\u1ea3m th\u1eddi gian t\u00ecm ki\u1ebfm \u0111\u1ec3 \u0111i \u0111\u1ebfn k\u00ed k\u1ebft h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed1i.\u00a0<\/p>\n<p class=\"\">Ho\u1ea1t \u0111\u1ed9ng tr\u00ean th\u1ecb tr\u01b0\u1eddng v\u1edbi t\u00ednh ch\u1ea5t chuy\u00ean nghi\u1ec7p, t\u1ed5 ch\u1ee9c trung gian s\u1eb5n s\u00e0ng th\u1ef1c hi\u1ec7n m\u1ed9t giao d\u1ecbch ho\u00e1n \u0111\u1ed5i v\u00e0o b\u1ea5t k\u00ec th\u1eddi \u0111i\u1ec3m n\u00e0o, trong khi c\u00e1c c\u00e1 nh\u00e2n ho\u1eb7c t\u1ed5 ch\u1ee9c th\u00f4ng th\u01b0\u1eddng kh\u00f4ng \u0111\u01b0\u1ee3c chuy\u00ean m\u00f4n h\u00f3a trong l\u0129nh v\u1ef1c n\u00e0y c\u00f3 th\u1ec3 m\u1ea5t nhi\u1ec1u th\u1eddi gian \u0111\u1ec3 t\u00ecm \u0111\u1ed1i t\u00e1c, k\u1ec3 c\u1ea3 khi c\u00f3 s\u1ef1 h\u1ed7 tr\u1ee3 c\u1ee7a m\u00f4i gi\u1edbi.<\/p>\n<p class=\"\">&#8211; Vi\u1ec7c s\u1eed d\u1ee5ng trung gian c\u00f3 th\u1ec3 l\u00e0m gi\u1ea3m chi ph\u00ed \u0111\u00e1nh gi\u00e1 ch\u1ea5t l\u01b0\u1ee3ng t\u00edn d\u1ee5ng.<\/p>\n<p class=\"\">\u0110\u1ed1i v\u1edbi \u0111a s\u1ed1 c\u00e1c h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i, m\u1ed9t b\u00ean \u0111\u1ed1i t\u00e1c s\u1ebd thanh to\u00e1n c\u00e1c lu\u1ed3ng ti\u1ec1n c\u0103n c\u1ee9 v\u00e0o k\u1ebft qu\u1ea3) bi\u1ebfn \u0111\u1ed9ng ng\u1eabu nhi\u00ean, hay c\u00f2n g\u1ecdi l\u00e0 th\u1ea3 n\u1ed5i (floating) c\u1ee7a m\u1ed9t tham s\u1ed1 nh\u1ea5t \u0111\u1ecbnh nh\u01b0 l\u00e3i su\u1ea5t, t\u1ec9 gi\u00e1 h\u1ed1i \u0111o\u00e1i, m\u1ee9c sinh l\u1eddi c\u1ed5 phi\u1ebfu ho\u1eb7c gi\u00e1 h\u00e0ng h\u00f3a.\u00a0<\/p>\n<p class=\"\">\u0110\u1ed1i t\u00e1c ph\u00eda b\u00ean kia ho\u1eb7c s\u1ebd thanh to\u00e1n lu\u1ed3ng ti\u1ec1n th\u1ea3 n\u1ed5i c\u0103n c\u1ee9 v\u00e0o m\u1ed9t tham s\u1ed1 kh\u00e1c, ho\u1eb7c thanh to\u00e1n lu\u1ed3ng ti\u1ec1n c\u1ed1 \u0111\u1ecbnh.<\/p>\n<p class=\"\">Th\u1eddi \u0111i\u1ec3m c\u00e1c b\u00ean tham gia h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i ti\u1ebfn h\u00e0nh thanh to\u00e1n c\u00e1c lu\u1ed3ng ti\u1ec1n \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 <i>ng\u00e0y thanh to\u00e1n,<\/i> v\u00e0 kho\u1ea3ng th\u1eddi gian gi\u1eefa c\u00e1c ng\u00e0y thanh to\u00e1n \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 <i>k\u00ec thanh to\u00e1n<\/i>.\u00a0<\/p>\n<p class=\"\">V\u00e0o m\u1ed9t ng\u00e0y thanh to\u00e1n c\u1ee5 th\u1ec3, m\u1ed9t b\u00ean \u0111\u1ed1i t\u00e1c s\u1ebd ti\u1ebfn h\u00e0nh chuy\u1ec3n tr\u1ea3 ti\u1ec1n cho b\u00ean kia v\u00e0 ph\u00eda b\u00ean kia c\u0169ng s\u1ebd chuy\u1ec3n tr\u1ea3 m\u1ed9t kho\u1ea3n ti\u1ec1n ng\u01b0\u1ee3c l\u1ea1i (Ngo\u1ea1i tr\u1eeb tr\u01b0\u1eddng h\u1ee3p c\u1ee7a h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i ti\u1ec1n t\u1ec7), c\u1ea3 hai lu\u1ed3ng ti\u1ec1n thanh to\u00e1n c\u1ee7a c\u00e1c b\u00ean trong h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i n\u00f3i chung s\u1ebd \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n b\u1eb1ng c\u00f9ng m\u1ed9t lo\u1ea1i ti\u1ec1n t\u1ec7.\u00a0<\/p>\n<p class=\"\">K\u1ebft qu\u1ea3 l\u00e0, c\u00e1c b\u00ean th\u01b0\u1eddng th\u1ecfa thu\u1eadn ch\u1ec9 trao \u0111\u1ed5i lu\u1ed3ng ti\u1ec1n r\u00f2ng m\u00e0 m\u1ed9t b\u00ean n\u1ee3 b\u00ean kia, hay l\u00e0 \u00e1p d\u1ee5ng nguy\u00ean t\u1eafc b\u00f9 tr\u1eeb r\u00f2ng (netting).\u00a0<\/p>\n<p class=\"\">\u0110\u1ed1i v\u1edbi h\u1ee3p \u0111\u1ed3ng ho\u00e3n \u0111\u1ed5i ti\u1ec1n t\u1ec7 v\u00e0 m\u1ed9t s\u1ed1 d\u1ea1ng h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i \u0111\u1eb7c bi\u1ec7t kh\u00e1c, c\u00e1c lu\u1ed3ng ti\u1ec1n thanh to\u00e1n kh\u00f4ng \u0111\u01b0\u1ee3c ghi nh\u1eadn theo c\u00f9ng m\u1ed9t lo\u1ea1i ti\u1ec1n t\u1ec7; khi \u0111\u00f3 vi\u1ec7c b\u00f9 tr\u1eeb r\u00f2ng kh\u00f4ng th\u1ec3 di\u1ec5n ra m\u00e0 c\u00e1c b\u00ean ph\u1ea3i chuy\u1ec3n cho nhau c\u00e1c lu\u1ed3ng ti\u1ec1n theo ngh\u0129a v\u1ee5 ph\u00e1t sinh m\u1ed9t c\u00e1ch \u0111\u1ed9c l\u1eadp.\u00a0<\/p>\n<p class=\"\">M\u1ed9t \u0111i\u1ec3m c\u1ea7n l\u01b0u \u00fd n\u1eefa l\u00e0 h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i ch\u1ee7 y\u1ebfu \u0111\u01b0\u1ee3c thanh to\u00e1n b\u1eb1ng ti\u1ec1n m\u1eb7t, r\u1ea5t hi\u1ebfm tr\u01b0\u1eddng h\u1ee3p y\u00eau c\u1ea7u chuy\u1ec3n giao v\u1eadt ch\u1ea5t t\u00e0i s\u1ea3n c\u01a1 s\u1edf.<\/p>\n<p class=\"\">H\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i ch\u1ee7 y\u1ebfu \u0111\u01b0\u1ee3c giao d\u1ecbch tr\u00ean th\u1ecb tr\u01b0\u1eddng OTC, v\u00ec v\u1eady c\u00e1c \u0111i\u1ec1u kho\u1ea3n c\u1ee7a h\u1ee3p \u0111\u1ed3ng th\u01b0\u1eddng \u0111\u01b0\u1ee3c thi\u1ebft k\u1ebf linh ho\u1ea1t cho ph\u00f9 h\u1ee3p v\u1edbi nhu c\u1ea7u c\u1ee5 th\u1ec3 c\u1ee7a c\u00e1c b\u00ean. M\u1eb7c d\u00f9 h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i \u0111\u01b0\u1ee3c coi l\u00e0 m\u1ed9t trong nh\u1eefng d\u1ea1ng ch\u1ee9ng kho\u00e1n ph\u00e1i sinh ra \u0111\u1eddi mu\u1ed9n nh\u1ea5t, nh\u01b0ng \u0111\u00e2y c\u00f3 l\u1ebd l\u00e0 c\u00f4ng c\u1ee5 quan tr\u1ecdng nh\u1ea5t n\u1ebfu x\u00e9t v\u1ec1 qui m\u00f4 c\u1ee7a th\u1ecb tr\u01b0\u1eddng.\u00a0<\/p>\n<p class=\"\">C\u00f3 ba lo\u1ea1i ch\u1ee7 th\u1ec3 tham gia ch\u00ednh tr\u00ean th\u1ecb tr\u01b0\u1eddng h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i, \u0111\u00f3 l\u00e0 ng\u01b0\u1eddi s\u1eed d\u1ee5ng cu\u1ed1i c\u00f9ng, \u0111\u1ecbnh ch\u1ebf trung gian v\u00e0 nh\u00e0 giao d\u1ecbch t\u1ef1 doanh.<\/p>\n<p class=\"\"><i>(T\u00e0i li\u1ec7u tham kh\u1ea3o, Gi\u00e1o tr\u00ecnh Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh &#038;  Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n ph\u00e1i sinh)<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"vnbcbc-sapo\" data-role=\"sapo\">\n                            H\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i (ti\u1ebfng Anh: Swap Contract) l\u00e0 m\u1ed9t th\u1ecfa thu\u1eadn d\u1ea1ng h\u1ee3p \u0111\u1ed3ng gi\u1eefa hai b\u00ean \u0111\u1ed1i t\u00e1c, theo \u0111\u00f3 c\u00e1c b\u00ean \u0111\u1ed3ng \u00fd th\u1ef1c hi\u1ec7n c\u00e1c kho\u1ea3n thanh to\u00e1n \u0111\u1ecbnh k\u00ec cho nhau.\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\/31048"}],"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=31048"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31048\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=31048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=31048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=31048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}