{"id":31533,"date":"2023-12-07T10:42:44","date_gmt":"2023-12-07T10:42:44","guid":{"rendered":"https:\/\/masterskills.org\/blog\/san-giao-dich-tuong-lai-futures-exchange-la-gi-cach-thuc-hoat-dong.html"},"modified":"2023-12-23T08:17:45","modified_gmt":"2023-12-23T01:17:45","slug":"san-giao-dich-tuong-lai-futures-exchange-la-gi-cach-thuc-hoat-dong","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/san-giao-dich-tuong-lai-futures-exchange-la-gi-cach-thuc-hoat-dong.html","title":{"rendered":"S\u00e0n giao d\u1ecbch t\u01b0\u01a1ng lai (Futures Exchange) la\u0300 gi\u0300? C\u00e1ch th\u1ee9c ho\u1ea1t \u0111\u1ed9ng"},"content":{"rendered":"
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Hi\u0300nh minh ho\u0323a. Ngu\u00f4\u0300n: News.bitcoin.com<\/i><\/p>\n<\/div>\n<\/div>\n

S\u00e0n giao d\u1ecbch t\u01b0\u01a1ng lai<\/font><\/h2>\n

Kha\u0301i ni\u00ea\u0323m<\/b><\/p>\n

S\u00e0n giao d\u1ecbch t\u01b0\u01a1ng lai<\/b> trong ti\u00ea\u0301ng Anh la\u0300 Futures Exchange<\/b>.<\/p>\n

S\u00e0n giao d\u1ecbch t\u01b0\u01a1ng lai<\/b> l\u00e0 m\u1ed9t th\u1ecb tr\u01b0\u1eddng \u0111a d\u1ea1ng ca\u0301c m\u0103t ha\u0300ng, n\u01a1i giao di\u0323ch ca\u0301c h\u00e0ng h\u00f3a t\u01b0\u01a1ng lai, ch\u1ec9 s\u1ed1 t\u01b0\u01a1ng lai v\u00e0 c\u00e1c t\u00f9y ch\u1ecdn v\u1ec1 h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai.<\/p>\n

Nh\u1eefng ng\u01b0\u1eddi \u0111\u01b0\u1ee3c ph\u00e9p truy c\u1eadp v\u00e0o s\u00e0n giao d\u1ecbch t\u01b0\u01a1ng lai l\u00e0 c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi v\u00e0 ca\u0301c nha\u0300 giao di\u0323ch th\u01b0\u01a1ng m\u1ea1i l\u00e0 th\u00e0nh vi\u00ean c\u1ee7a s\u00e0n. C\u00e1c th\u00e0nh vi\u00ean c\u1ea7n ph\u1ea3i \u0111\u0103ng k\u00ed<\/span> v\u1edbi Hi\u1ec7p h\u1ed9i t\u01b0\u01a1ng lai qu\u1ed1c gia (NFA)<\/b> v\u00e0 \u1ee6y ban giao d\u1ecbch h\u00e0ng h\u00f3a t\u01b0\u01a1ng lai (CFTC)<\/b>\u00a0b\u1eb1ng c\u00e1ch m\u01a1\u0309 m\u1ed9t t\u00e0i kho\u1ea3n v\u1edbi m\u1ed9t nh\u00e0 m\u00f4i gi\u1edbi \u0111\u00e3 \u0111\u01b0\u01a1\u0323c \u0111\u0103ng k\u00ed<\/span>. S\u00e0n giao d\u1ecbch t\u01b0\u01a1ng lai c\u0169ng cung c\u1ea5p ch\u1ee9c n\u0103ng thanh to\u00e1n v\u00e0 thanh to\u00e1n b\u00f9 tr\u1eeb\u00a0.<\/p>\n

C\u00e1ch th\u1ee9c ho\u1ea1t \u0111\u1ed9ng cu\u0309a s\u00e0n giao d\u1ecbch t\u01b0\u01a1ng lai\u00a0<\/font><\/h3>\n

Ch\u1ee9c n\u0103ng c\u1ee7a m\u1ed9t s\u00e0n giao d\u1ecbch t\u01b0\u01a1ng lai l\u00e0 chu\u1ea9n h\u00f3a v\u00e0 th\u00fac \u0111\u1ea9y giao d\u1ecbch t\u01b0\u01a1ng lai cho c\u00e0ng nhi\u1ec1u ng\u01b0\u1eddi tham gia c\u00e0ng t\u1ed1t. C\u00e1c c\u01a1 ch\u1ebf khuy\u1ebfn kh\u00edch trao \u0111\u1ed5i g\u1ea7n nh\u01b0 d\u1ef1a tr\u00ean kh\u1ed1i l\u01b0\u1ee3ng v\u00e0 gi\u00e1 tr\u1ecb ti\u00ea\u0300n c\u1ee7a sa\u0309n ph\u00e2\u0309m \u0111\u01b0\u1ee3c giao d\u1ecbch, v\u01a1\u0301i ph\u01b0\u01a1ng ch\u00e2m c\u00e0ng nhi\u1ec1u c\u00e0ng t\u1ed1t. \u0110i\u1ec1u \u0111\u00f3 c\u00f3 ngh\u0129a l\u00e0 c\u00e0ng nhi\u1ec1u ng\u01b0\u1eddi tham gia sa\u0300n va\u0300 c\u00e0ng nhi\u1ec1u giao d\u1ecbch thi\u0300 c\u00e0ng t\u1ed1t. \u0110i\u1ec1u n\u00e0y \u0111a\u0303 th\u00fac \u0111\u1ea9y s\u1ef1 pha\u0301t tri\u00ea\u0309n cu\u0309a ca\u0301c sa\u0300n \u0111i\u1ec7n t\u01b0\u0309 do s\u01b0\u0323 d\u00ea\u0303 ti\u00ea\u0301p c\u00e2\u0323n \u0111\u00ea\u0301n l\u01b0\u01a1\u0323ng kha\u0301ch ha\u0300ng ti\u00ea\u0300m n\u0103ng.<\/p>\n

\u0110a\u0303 t\u01b0\u0300ng c\u00f3 y\u0301 ki\u00ea\u0301n cho r\u0103\u0300ng nh\u01b0\u0303ng s\u00e0n giao d\u1ecbch t\u01b0\u01a1ng lai c\u00e2\u0300n pha\u0309i co\u0301 tru\u0323 s\u01a1\u0309 nh\u01b0 S\u00e0n giao d\u1ecbch Chicago (CME)<\/b> hay\u00a0S\u00e0n giao d\u1ecbch h\u00e0ng h\u00f3a New York (NYMEX)<\/b>, tuy nhi\u00ean nh\u1eefng quan \u0111i\u00ea\u0309m n\u00e0y kh\u00f4ng c\u00f2n \u0111e\u0300 n\u1eb7ng nh\u01b0 tr\u01b0\u1edbc \u0111\u00e2y n\u01b0\u0303a. Do ca\u0301c giao d\u1ecbch c\u00f3 th\u1ec3 th\u01b0\u0323c hi\u00ean tr\u00ean m\u00e1y t\u00ednh c\u1ee7a b\u1ea5t k\u00ec ai co\u0301 k\u1ebft n\u1ed1i qua internet v\u1edbi m\u1ed9t nh\u00e0 m\u00f4i gi\u1edbi la\u0300 th\u00e0nh vi\u00ean cu\u0309a sa\u0300n. Ca\u0301c giao d\u1ecbch t\u01b0\u01a1ng lai tr\u00ean sa\u0300n \u0111\u01b0\u1ee3c ph\u00e2n c\u1ea5p tr\u00ean to\u00e0n th\u1ebf gi\u1edbi v\u00e0 di\u1ec5n ra g\u1ea7n nh\u01b0 24 gi\u1edd m\u1ed7i ng\u00e0y trong tu\u1ea7n.<\/p>\n

Ca\u0301c sa\u0309n ph\u00e2\u0309m t\u01b0\u01a1ng lai \u0111\u01b0\u1ee3c giao d\u1ecbch tr\u00ean m\u1ed9t s\u00e0n giao d\u1ecbch t\u01b0\u01a1ng lai cho ph\u00e9p ng\u01b0\u1eddi b\u00e1n c\u00e1c m\u1eb7t h\u00e0ng c\u01a1 b\u1ea3n co\u0301 s\u1ef1 ch\u1eafc ch\u1eafn v\u1ec1 gi\u00e1 h\u1ecd s\u1ebd nh\u1eadn \u0111\u01b0\u1ee3c cho c\u00e1c s\u1ea3n ph\u1ea9m c\u1ee7a ho\u0323. \u0110\u1ed3ng th\u1eddi, vi\u1ec7c giao di\u0323ch s\u1ebd cho ph\u00e9p ng\u01b0\u1eddi ti\u00eau d\u00f9ng ho\u1eb7c ng\u01b0\u1eddi mua c\u00e1c m\u1eb7t h\u00e0ng c\u01a1 b\u1ea3n \u0111\u00f3 bi\u00ea\u0301t \u0111\u01b0\u01a1\u0323c m\u1ee9c gi\u00e1 m\u00e0 h\u1ecd pha\u0309i tr\u1ea3, t\u1ea1i m\u1ed9t th\u1eddi \u0111i\u1ec3m x\u00e1c \u0111\u1ecbnh trong t\u01b0\u01a1ng lai.<\/p>\n

\u0110\u1ec3 khuy\u1ebfn kh\u00edch c\u00e0ng nhi\u1ec1u ng\u01b0\u01a1\u0300i tham gia v\u00e0 t\u00f4\u0301i \u01b0u m\u01b0\u0301c thanh kho\u1ea3n, c\u00e1c h\u1ee3p \u0111\u1ed3ng giao d\u1ecbch tr\u00ean m\u1ed9t s\u00e0n giao d\u1ecbch t\u01b0\u01a1ng lai c\u00e2\u0300n theo c\u00f3 k\u00edch th\u01b0\u1edbc chu\u1ea9n, co\u0301 ng\u00e0y h\u1ebft h\u1ea1n v\u00e0 gi\u00e1 c\u00f4\u0301 \u0111i\u0323nh \u0111\u1ed1i v\u1edbi c\u00e1c giao di\u0323ch quy\u00ea\u0300n ch\u1ecdn. Ng\u01b0\u01a1\u0323c la\u0323i v\u1edbi c\u00e1c h\u1ee3p \u0111\u1ed3ng giao di\u0323ch qua qu\u00e2\u0300y (OTC)<\/b> n\u01a1i ng\u01b0\u1eddi mua v\u00e0 ng\u01b0\u1eddi b\u00e1n \u0111\u1ed3ng \u00fd v\u1edbi c\u00e1c \u0111i\u1ec1u kho\u1ea3n \u0111a\u0303 tho\u0309a thu\u00e2\u0323n.<\/p>\n

Ca\u0301c sa\u0300n giao di\u0323ch c\u0169ng cung c\u1ea5p th\u00f4ng tin v\u1ec1 gi\u00e1 b\u1edfi c\u00e1c c\u00f4ng ty cung c\u1ea5p th\u00f4ng tin. Chia s\u1ebb th\u00f4ng tin cho ph\u00e9p minh b\u1ea1ch c\u00e1c ho\u1ea1t \u0111\u1ed9ng v\u00e0 ta\u0323o s\u1ef1 c\u00f4ng b\u1eb1ng cho t\u1ea5t c\u1ea3 m\u1ecdi ng\u01b0\u1eddi tham gia. Th\u00f4ng tin v\u1ec1 gi\u00e1, bao g\u1ed3m gi\u00e1 c\u1ea3, gi\u00e1 ho\u0309i mua v\u00e0 gia\u0301 cha\u0300o ba\u0301n c\u00f3 s\u1eb5n cho t\u1ea5t c\u1ea3 c\u00e1c t\u1ed5 ch\u1ee9c v\u00e0 c\u00e1 nh\u00e2n quan t\u00e2m b\u1ea5t k\u1ec3 quy m\u00f4 \u0111\u00e2\u0300u t\u01b0 c\u1ee7a h\u1ecd.<\/p>\n

M\u1ed9t kh\u00eda c\u1ea1nh r\u1ea5t quan tr\u1ecdng kh\u00e1c c\u1ee7a ca\u0301c sa\u0300n giao di\u0323ch na\u0300y l\u00e0 n\u00f3 cung c\u1ea5p d\u1ecbch v\u1ee5 thanh to\u00e1n b\u00f9 tr\u1eeb. Trong khi nhi\u00ea\u0300u c\u00f4ng ty cung c\u1ea5p di\u0323ch vu\u0323 thanh to\u00e1n b\u00f9 tr\u1eeb, sa\u0300n giao di\u0323ch ti\u00eau chu\u1ea9n h\u00f3a c\u00e1c chi ph\u00ed v\u00e0 hoa\u0323t \u0111\u00f4\u0323ng c\u1ee7a ca\u0301c d\u1ecbch v\u1ee5 \u0111\u00f3. D\u1ecbch v\u1ee5 thanh to\u00e1n b\u00f9 tr\u1eeb \u0111\u1ea3m b\u1ea3o r\u1eb1ng ng\u01b0\u1eddi tham gia kh\u00f4ng ph\u1ea3i lo l\u1eafng v\u1ec1 r\u1ee7i ro ca\u0301c \u0111\u1ed1i t\u00e1c th\u01b0\u01a1ng m\u1ea1i c\u1ee7a h\u1ecd kh\u00f4ng th\u1ef1c hi\u1ec7n ca\u0301c ngh\u0129a v\u1ee5 theo h\u1ee3p \u0111\u1ed3ng. \u0110i\u1ec1u \u0111\u00f3 l\u00e0m cho giao d\u1ecbch tr\u00ean sa\u0300n giao di\u0323ch t\u01b0\u01a1ng lai tr\u1edf th\u00e0nh m\u1ed9t c\u01a1 h\u00f4\u0323i t\u00f4\u0301t cho c\u00e1c nh\u00e0 \u0111\u1ea7u c\u01a1 ng\u1eafn h\u1ea1n v\u00e0 khi\u1ebfn h\u1ecd tham gia v\u00e0o th\u1ecb tr\u01b0\u1eddng t\u01b0\u01a1ng lai.<\/p>\n

L\u1ecbch s\u1eed v\u1ec1 sa\u0300n giao di\u0323ch t\u01b0\u01a1ng lai \u1edf My\u0303<\/font><\/h3>\n

S\u00e0n giao d\u1ecbch t\u01b0\u01a1ng lai<\/b> l\u1edbn nh\u1ea5t \u1edf My\u0303 la\u0300 S\u00e0n giao d\u1ecbch Chicago Mercantile, \u0111\u01b0\u1ee3c h\u00ecnh th\u00e0nh v\u00e0o cu\u1ed1i nh\u1eefng n\u0103m 1890 chi\u0309 v\u01a1\u0301i c\u00e1c h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai cho c\u00e1c s\u1ea3n ph\u1ea9m n\u00f4ng nghi\u1ec7p. S\u1ef1 xu\u1ea5t hi\u1ec7n c\u1ee7a l\u00e3i su\u1ea5t, hay tr\u00e1i phi\u1ebfu t\u01b0\u01a1ng lai v\u00e0 ti\u1ec1n t\u1ec7 t\u01b0\u01a1ng lai trong c\u00e1c\u00a0th\u1ecb tr\u01b0\u1eddng ngo\u1ea1i h\u1ed1i\u00a0l\u1edbn b\u0103\u0301t \u0111\u00e2\u0300u t\u01b0\u0300 nh\u1eefng n\u0103m 1970.\u00a0<\/p>\n

Giao di\u0323ch t\u01b0\u01a1ng lai ng\u00e0y nay \u0111a\u0303 m\u01a1\u0309 r\u00f4\u0323ng h\u01a1n r\u00e2\u0301t nhi\u00ea\u0300u, v\u1edbi c\u00e1c h\u1ee3p \u0111\u1ed3ng ph\u00f2ng ng\u1eeba r\u1ee7i ro t\u01b0\u01a1ng lai bao g\u1ed3m h\u00e2\u0300u h\u00eat c\u00e1c ho\u1ea1t \u0111\u1ed9ng trong th\u1ecb tr\u01b0\u1eddng t\u01b0\u01a1ng lai. Giao di\u0323ch t\u01b0\u01a1ng lai \u0111\u00f3ng vai tr\u00f2 quan tr\u1ecdng trong ho\u1ea1t \u0111\u1ed9ng c\u1ee7a h\u1ec7 th\u1ed1ng t\u00e0i ch\u00ednh to\u00e0n c\u1ea7u.<\/p>\n

C\u00e1c s\u00e0n giao d\u1ecbch t\u00e0i ch\u00ednh \u0111\u00e3 ch\u1ee9ng ki\u1ebfn nhi\u1ec1u v\u1ee5 s\u00e1p nh\u1eadp trong \u0111\u00f3 quan tr\u1ecdng nh\u1ea5t l\u00e0 gi\u1eefa S\u00e0n giao d\u1ecbch Chicago v\u00e0 H\u1ed9i \u0111\u1ed3ng th\u01b0\u01a1ng m\u1ea1i Chicago (CBOT) n\u0103m 2007, \u0111\u01b0\u1ee3c \u0111\u1ed5i t\u00ean th\u00e0nh CME Group, sau \u0111\u00f3 mua l\u1ea1i c\u00f4ng ty NYMEX Holdings – c\u00f4ng ty m\u1eb9 c\u1ee7a New York Mercantile Exchange (NYMEX) v\u00e0 Commodity Exchange (COMEX) – v\u00e0o n\u0103m 2008. N\u0103m 2012, c\u00f4ng ty \u0111\u00e3 b\u1ed5 sung Kansas City Board of Trade.<\/p>\n

M\u1ed9t sa\u0300n giao di\u0323ch t\u01b0\u01a1ng lai l\u01a1\u0301n kh\u00e1c \u1edf My\u0303 l\u00e0 S\u00e0n giao d\u1ecbch\u00a0 Intercontinental Exchange (ICE). Ra \u0111\u1eddi nh\u01b0 m\u1ed9t s\u00e0n giao d\u1ecbch \u0111i\u1ec7n t\u1eed v\u00e0o n\u0103m 2000, ICE \u0111\u00e3 mua l\u1ea1i S\u00e0n giao d\u1ecbch International Petroleum Exchange (IPE) v\u00e0o n\u0103m 2001. N\u0103m 2007, b\u00f4\u0309 sung th\u00eam New York Board of Trade (NYBOT) v\u00e0 S\u00e0n giao d\u1ecbch Winnipeg Commodity Exchang (WCE). Cu\u1ed1i c\u00f9ng la\u0300 vi\u1ec7c mua l\u1ea1i NYSE Euronext v\u00e0o n\u0103m 2013.<\/p>\n

Ca\u0301c y\u0301 chi\u0301nh<\/font><\/h3>\n

– S\u00e0n giao d\u1ecbch t\u01b0\u01a1ng lai <\/b>cho ph\u00e9p nh\u1eefng ng\u01b0\u1eddi mu\u1ed1n giao d\u1ecbch h\u00e0ng h\u00f3a co\u0301 kh\u1ea3 n\u0103ng nhanh ch\u00f3ng t\u00ecm th\u1ea5y nhau v\u00e0 giao d\u1ecbch an to\u00e0n.<\/p>\n

– S\u00e0n giao d\u1ecbch t\u01b0\u01a1ng lai ch\u1ec9 cho phe\u0301p c\u00e1c c\u00f4ng ty v\u00e0 c\u00e1 nh\u00e2n la\u0300 th\u00e0nh vi\u00ean giao di\u0323ch.<\/p>\n

– C\u00e1c c\u00e1 nh\u00e2n mu\u1ed1n giao d\u1ecbch tr\u00ean s\u00e0n giao d\u1ecbch t\u01b0\u01a1ng lai ph\u1ea3i th\u1ef1c hi\u1ec7n th\u00f4ng qua m\u1ed9t c\u00f4ng ty m\u00f4i gi\u1edbi l\u00e0 th\u00e0nh vi\u00ean c\u1ee7a s\u00e0n giao d\u1ecbch.<\/p>\n

– Ca\u0301c sa\u0300n giao di\u0323ch co\u0301 cung c\u1ea5p ca\u0301c d\u1ecbch v\u1ee5 thanh to\u00e1n b\u00f9 tr\u1eeb.<\/p>\n

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

\n S\u00e0n giao d\u1ecbch t\u01b0\u01a1ng lai (ti\u00ea\u0301ng Anh: Futures Exchange) l\u00e0 m\u1ed9t th\u1ecb tr\u01b0\u1eddng \u0111a d\u1ea1ng ca\u0301c m\u0103\u0323t ha\u0300ng, n\u01a1i giao di\u0323ch ca\u0301c h\u00e0ng h\u00f3a t\u01b0\u01a1ng lai, ch\u1ec9 s\u1ed1 t\u01b0\u01a1ng lai v\u00e0 c\u00e1c t\u00f9y ch\u1ecdn v\u1ec1 h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai.\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\/31533"}],"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=31533"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31533\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=31533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=31533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=31533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}