{"id":31285,"date":"2023-12-07T10:30:01","date_gmt":"2023-12-07T10:30:01","guid":{"rendered":"https:\/\/masterskills.org\/blog\/hop-dong-tuong-lai-futures-contract-la-gi-uu-the-so-voi-hop-dong-ki-han.html"},"modified":"2023-12-23T08:01:17","modified_gmt":"2023-12-23T01:01:17","slug":"hop-dong-tuong-lai-futures-contract-la-gi-uu-the-so-voi-hop-dong-ki-han","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/hop-dong-tuong-lai-futures-contract-la-gi-uu-the-so-voi-hop-dong-ki-han.html","title":{"rendered":"H\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai (Futures contract) l\u00e0 g\u00ec? \u01afu th\u1ebf so v\u1edbi h\u1ee3p \u0111\u1ed3ng k\u00ec h\u1ea1n"},"content":{"rendered":"
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H\u00ecnh minh ho\u1ea1 (Ngu\u1ed3n: orbes)<\/p>\n<\/div>\n<\/div>\n

H\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai<\/font><\/b><\/h2>\n

Kh\u00e1i ni\u1ec7m\u00a0<\/b><\/p>\n

H\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai\u00a0<\/b>trong ti\u1ebfng Anh \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0\u00a0Futures contract.<\/b><\/p>\n

H\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai l\u00e0 m\u1ed9t tho\u1ea3 thu\u1eadn \u0111\u1ec3 mua ho\u1eb7c b\u00e1n m\u1ed9t t\u00e0i s\u1ea3n v\u00e0o th\u1eddi \u0111i\u1ec3m ch\u1eafc ch\u1eafn trong t\u01b0\u01a1ng lai v\u1edbi m\u1ed9t m\u1ee9c gi\u00e1 x\u00e1c \u0111\u1ecbnh.\u00a0<\/p>\n

Ch\u1ee9c n\u0103ng kinh t\u1ebf c\u01a1 b\u1ea3n c\u1ee7a c\u00e1c th\u1ecb tr\u01b0\u1eddng h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai l\u00e0 cung c\u1ea5p m\u1ed9t c\u01a1 h\u1ed9i cho nh\u1eefng ng\u01b0\u1eddi tham gia th\u1ecb tr\u01b0\u1eddng \u0111\u1ec3 ph\u00f2ng ng\u1eeba r\u1ee7i ro v\u1ec1 nh\u1eefng bi\u1ebfn \u0111\u1ed9ng gi\u00e1 b\u1ea5t l\u1ee3i v\u00e0 l\u00e0 c\u00f4ng c\u1ee5 cho c\u00e1c nh\u00e0 \u0111\u1ea7u c\u01a1.<\/p>\n

C\u00e1c lo\u1ea1i h\u1ee3p \u0111\u1ed3ng\u00a0<\/font><\/b><\/h3>\n

C\u00e1c h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai d\u1ef1a tr\u00ean c\u01a1 s\u1edf m\u1ed9t c\u00f4ng c\u1ee5 t\u00e0i ch\u00ednh hay m\u1ed9t ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai t\u00e0i ch\u00ednh, bao g\u1ed3m:<\/p>\n

– H\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai ch\u1ec9 s\u1ed1 c\u1ed5 phi\u1ebfu<\/p>\n

– H\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai l\u00e3i su\u1ea5t<\/p>\n

– H\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai ti\u1ec1n t\u1ec7<\/p>\n

Nh\u1eefng \u01b0u th\u1ebf c\u1ee7a H\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai so v\u1edbi H\u1ee3p \u0111\u1ed3ng k\u00ec<\/span> h\u1ea1n<\/font><\/b><\/h3>\n

H\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai, nh\u1edd \u0111\u1eb7c \u0111i\u1ec3m c\u00f3 t\u00ednh linh ho\u1ea1t \u0111\u00e3 kh\u1eafc ph\u1ee5c \u0111\u01b0\u1ee3c nh\u1eefng nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a h\u1ee3p \u0111\u1ed3ng k\u00ec<\/span> h\u1ea1n v\u00e0 th\u01b0\u1eddng \u0111\u01b0\u1ee3c xem l\u00e0 m\u1ed9t ph\u01b0\u01a1ng th\u1ee9c t\u1ed1t h\u01a1n \u0111\u1ec3 ph\u00f2ng ng\u1eeba r\u1ee7i ro trong kinh doanh.\u00a0<\/p>\n

– V\u1ec1 t\u00ednh ch\u1ea5t:\u00a0<\/b>\u0111i\u1ec3m kh\u00e1c bi\u1ec7t l\u1edbn nh\u1ea5t gi\u1eefa h\u1ee3p \u0111\u1ed3ng k\u00ec<\/span> h\u1ea1n v\u00e0 h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai ch\u00ednh l\u00e0 t\u1ed3n t\u1ea1i m\u1ed9t s\u1edf giao d\u1ecbch c\u00f3 t\u1ed5 ch\u1ee9c giao d\u1ecbch h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai, trong khi \u0111\u1ed1i v\u1edbi h\u1ee3p \u0111\u1ed3ng k\u00ec<\/span> h\u1ea1n th\u00ec kh\u00f4ng. Nh\u01b0 v\u1eady, h\u1ee3p \u0111\u1ed3ng k\u00ec<\/span> h\u1ea1n ch\u1ec9 l\u00e0 h\u1ee3p \u0111\u1ed3ng ri\u00eang bi\u1ec7t gi\u1eefa hai b\u00ean c\u00f2n h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai \u0111\u01b0\u1ee3c trao \u0111\u1ed5i tr\u00ean th\u1ecb tr\u01b0\u1eddng.<\/p>\n

S\u1edf giao d\u1ecbch h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai, cho ph\u00e9p c\u00e1c nh\u00e0 giao d\u1ecbch v\u00f4 danh \u0111\u01b0\u1ee3c mua v\u00e0 b\u00e1n c\u00e1c h\u1ee3p \u0111\u1ed3ng giao d\u1ecbch t\u01b0\u01a1ng lai m\u00e0 kh\u00f4ng ph\u1ea3i x\u00e1c \u0111\u1ecbnh r\u00f5 \u0111\u1ed1i t\u00e1c trong m\u1ed9t h\u1ee3p \u0111\u1ed3ng c\u1ee5 th\u1ec3. Ngo\u00e0i ra, S\u1edf giao d\u1ecbch c\u00f2n t\u1ea1o ra t\u00ednh thanh kho\u1ea3n cao cho th\u1ecb tr\u01b0\u1eddng h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai, gi\u00fap cho c\u00e1c \u0111\u1ed1i t\u00e1c tham gia v\u00e0o h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai th\u1ef1c hi\u1ec7n c\u00e1c ngh\u0129a v\u1ee5 c\u1ee7a h\u1ecd c\u00f3 hi\u1ec7u qu\u1ea3 h\u01a1n so v\u1edbi khi tham gia v\u00e0o h\u1ee3p \u0111\u1ed3ng k\u00ec<\/span> h\u1ea1n.<\/p>\n

– V\u1ec1 t\u00ednh ti\u00eau chu\u1ea9n ho\u00e1 h\u1ee3p \u0111\u1ed3ng:\u00a0<\/b>kh\u00f4ng gi\u1ed1ng nh\u01b0 c\u00e1c h\u1ee3p \u0111\u1ed3ng k\u00ec<\/span> h\u1ea1n, c\u00e1c h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai \u0111\u01b0\u1ee3c ti\u00eau chu\u1ea9n ho\u00e1. C\u00e1c h\u1ee3p \u0111\u1ed3ng k\u00ec<\/span> h\u1ea1n c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c l\u1eadp ra cho b\u1ea5t k\u00ec<\/span> lo\u1ea1i h\u00e0ng ho\u00e1 n\u00e0o, v\u1edbi b\u1ea5t k\u00ec<\/span> s\u1ed1 l\u01b0\u1ee3ng v\u00e0 ch\u1ea5t l\u01b0\u1ee3ng, th\u1eddi h\u1ea1n thanh to\u00e1n \u0111\u01b0\u1ee3c hai b\u00ean tham gia h\u1ee3p \u0111\u1ed3ng ch\u1ea5p thu\u1eadn. Trong khi \u0111\u00f3, c\u00e1c h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai ni\u00eam y\u1ebft t\u1ea1i c\u00e1c S\u1edf giao d\u1ecbch \u0111\u01b0\u1ee3c qui \u0111\u1ecbnh \u0111\u1ed1i v\u1edbi m\u1ed9t s\u1ed1 h\u00e0ng ho\u00e1 c\u1ee5 th\u1ec3 v\u00e0 \u0111\u00e1p \u1ee9ng c\u00e1c y\u00eau c\u1ea7u t\u1ed1i thi\u1ec3u v\u1ec1 ch\u1ea5t l\u01b0\u1ee3ng v\u00e0 t\u1ea1i m\u1ed9t th\u1eddi \u0111i\u1ec3m giao h\u00e0ng x\u00e1c \u0111\u1ecbnh.<\/p>\n

– V\u1ec1 r\u1ee7i ro trong thanh to\u00e1n<\/b>: S\u1eed d\u1ee5ng c\u00e1c h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai \u0111\u01b0\u1ee3c ni\u00eam y\u1ebft tr\u00ean S\u1edf giao d\u1ecbch s\u1ebd ki\u1ec3m so\u00e1t \u0111\u01b0\u1ee3c r\u1ee7i ro thanh to\u00e1n. Trong c\u00e1c giao d\u1ecbch h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai, c\u1ea3 b\u00ean mua v\u00e0 b\u00ean b\u00e1n kh\u00f4ng bi\u1ebft ai l\u00e0 \u0111\u1ed1i t\u00e1c c\u1ee7a m\u00ecnh. Trung t\u00e2m thanh to\u00e1n b\u00f9 tr\u1eeb th\u1ef1c hi\u1ec7n ch\u1ee9c n\u0103ng trung gian thanh to\u00e1n trong t\u1ea5t c\u1ea3 c\u00e1c giao d\u1ecbch.<\/p>\n

\u0110\u1ed1i v\u1edbi c\u00e1c h\u1ee3p \u0111\u1ed3ng k\u00ec<\/span> h\u1ea1n, c\u00e1c kho\u1ea3n l\u1ed7 v\u00e0 l\u00e3i s\u1ebd \u0111\u01b0\u1ee3c thanh to\u00e1n khi c\u00e1c h\u1ee3p \u0111\u1ed3ng \u0111\u00e1o h\u1ea1n. Trong khi \u0111\u00f3 \u0111\u1ed1i v\u1edbi c\u00e1c h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai, nh\u1eefng thay \u0111\u1ed5i v\u1ec1 gi\u00e1 tr\u1ecb c\u1ee7a c\u00e1c b\u00ean tham gia h\u1ee3p \u0111\u1ed3ng (th\u00f4ng qua t\u00e0i kho\u1ea3n) \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh h\u00e0ng ng\u00e0y theo m\u1ee9c gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng. C\u00e1c h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai c\u00f2n c\u00f3 m\u1ed9t s\u1ed1 y\u00eau c\u1ea7u k\u00ed qu\u0129 nh\u1ea5t \u0111\u1ecbnh. Nh\u01b0 v\u1eady, ch\u00ednh s\u1ef1 k\u1ebft h\u1ee3p gi\u1eefa vi\u1ec7c thanh to\u00e1n h\u00e0ng ng\u00e0y v\u00e0 y\u00eau c\u1ea7u k\u00ed qu\u0129 s\u1ebd gi\u00fap ph\u00f2ng ng\u1eeba \u0111\u01b0\u1ee3c r\u1ee7i ro trong thanh to\u00e1n c\u1ee7a h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai.<\/p>\n

– V\u1ec1 t\u00ednh thanh kho\u1ea3n<\/b>: do c\u00f3 s\u1ef1 tham gia c\u1ee7a trung t\u00e2m thanh to\u00e1n b\u00f9 tr\u1eeb, t\u00ednh thanh kho\u1ea3n c\u1ee7a c\u00e1c h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai cao h\u01a1n nhi\u1ec1u so v\u1edbi c\u00e1c h\u1ee3p \u0111\u1ed3ng k\u00ec<\/span> h\u1ea1n.<\/p>\n

(T\u00e0i li\u1ec7u tham kh\u1ea3o: Gi\u00e1o tr\u00ecnh Th\u1ecb tr\u01b0\u1eddng Ch\u1ee9ng kho\u00e1n, Tr\u01b0\u1eddng \u0110H Kinh t\u1ebf Qu\u1ed1c d\u00e2n, , NXB T\u00e0i ch\u00ednh)<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n H\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai (ti\u1ebfng Anh: Futures contract) l\u00e0 m\u1ed9t lo\u1ea1i ch\u1ee9ng kho\u00e1n ph\u00e1i sinh, \u0111\u01b0\u1ee3c xem l\u00e0 m\u1ed9t ph\u01b0\u01a1ng th\u1ee9c t\u1ed1t h\u01a1n so v\u1edbi h\u1ee3p \u0111\u1ed3ng k\u00ec h\u1ea1n trong ph\u00f2ng ng\u1eeba r\u1ee7i ro trong kinh doanh.<\/p><\/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\/31285"}],"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=31285"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31285\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=31285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=31285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=31285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}