{"id":31596,"date":"2023-12-07T10:51:44","date_gmt":"2023-12-07T10:51:44","guid":{"rendered":"https:\/\/masterskills.org\/blog\/thi-truong-otc-my-la-gi-thi-truong-otc-qua-mang-may-tinh-nasdaq.html"},"modified":"2023-12-23T09:38:35","modified_gmt":"2023-12-23T02:38:35","slug":"thi-truong-otc-my-la-gi-thi-truong-otc-qua-mang-may-tinh-nasdaq","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/thi-truong-otc-my-la-gi-thi-truong-otc-qua-mang-may-tinh-nasdaq.html","title":{"rendered":"Th\u1ecb tr\u01b0\u1eddng OTC M\u1ef9 l\u00e0 g\u00ec? Th\u1ecb tr\u01b0\u1eddng OTC qua m\u1ea1ng m\u00e1y t\u00ednh NASDAQ"},"content":{"rendered":"
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H\u00ecnh minh ho\u1ea1 (Ngu\u1ed3n: apchibitcoin)<\/p>\n<\/div>\n<\/div>\n

Th\u1ecb tr\u01b0\u1eddng OTC M\u1ef9\u00a0<\/font><\/b><\/h2>\n

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

Th\u1ecb tr\u01b0\u1eddng OTC M\u1ef9 <\/b>hay c\u00f2n \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0\u00a0th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n phi t\u1eadp trung<\/b> M\u1ef9 <\/b>t\u1ea1m d\u1ecbch sang ti\u1ebfng Anh l\u00e0\u00a0American over the counter market.<\/b><\/p>\n

Th\u1ecb tr\u01b0\u1eddng OTC qua m\u1ea1ng m\u00e1y t\u00ednh c\u1ee7a M\u1ef9<\/b> c\u00f3 t\u00ean g\u1ecdi l\u00e0\u00a0National Association of Securities Dealers Automated Quotation System, <\/b>vi\u1ebft t\u1eaft l\u00e0 NASDAQ<\/span>.<\/b><\/p>\n

– Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n phi t\u1eadp trung (OTC)<\/b> n\u00f3i chung l\u00e0 th\u1ecb tr\u01b0\u1eddng kh\u00f4ng c\u00f3 trung t\u00e2m giao d\u1ecbch ch\u1ee9ng kho\u00e1n t\u1eadp trung, \u0111\u00f3 l\u00e0 m\u1ed9t m\u1ea1ng l\u01b0\u1edbi c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi v\u00e0 t\u1ef1 doanh ch\u1ee9ng kho\u00e1n mua b\u00e1n v\u1edbi nhau v\u00e0 v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0, c\u00e1c ho\u1ea1t \u0111\u1ed9ng giao d\u1ecbch c\u1ee7a th\u1ecb tr\u01b0\u1eddng OTC \u0111\u01b0\u1ee3c di\u1ec5n ra t\u1ea1i c\u00e1c qu\u1ea7y (s\u00e0n giao d\u1ecbch) c\u1ee7a c\u00e1c ng\u00e2n h\u00e0ng v\u00e0 c\u00e1c c\u00f4ng ty ch\u1ee9ng kho\u00e1n.<\/p>\n

– Th\u1ecb tr\u01b0\u1eddng OTC c\u1ee7a M\u1ef9<\/b> l\u00e0 m\u00f4 h\u00ecnh th\u1ecb tr\u01b0\u1eddng OTC \u0111i\u1ec3n h\u00ecnh \u0111\u01b0\u1ee3c ph\u00e1t tri\u1ec3n t\u1eeb th\u1ecb tr\u01b0\u1eddng phi t\u1eadp trung t\u1ef1 do mang t\u00ednh truy\u1ec1n th\u1ed1ng, giao d\u1ecbch th\u00f4ng qua th\u01b0\u01a1ng l\u01b0\u1ee3ng gi\u00e1 tr\u1ef1c ti\u1ebfp “m\u1eb7t \u0111\u1ed1i m\u1eb7t” v\u00e0 ch\u1ee7 y\u1ebfu qua \u0111i\u1ec7n tho\u1ea1i.<\/p>\n

Th\u1ecb tr\u01b0\u1eddng n\u00e0y c\u00f3 s\u1ef1 qu\u1ea3n l\u00ed c\u1ee7a Nh\u00e0 n\u01b0\u1edbc t\u1eeb sau Lu\u1eadt ch\u1ee9ng kho\u00e1n s\u1eeda \u0111\u1ed5i (Lu\u1eadt Maloney 1938).<\/p>\n

– Th\u1ecb tr\u01b0\u1eddng OTC qua m\u1ea1ng m\u00e1y t\u00ednh NASDAQ<\/span><\/b> \u0111\u01b0\u1ee3c th\u00e0nh l\u1eadp t\u1eeb n\u0103m 1971 l\u00e0 b\u1ed9 ph\u1eadn l\u1edbn nh\u1ea5t c\u1ee7a th\u1ecb tr\u01b0\u1eddng th\u1ee9 c\u1ea5p M\u1ef9 x\u00e9t v\u1ec1 s\u1ed1 l\u01b0\u1ee3ng ch\u1ee9ng kho\u00e1n giao d\u1ecbch tr\u00ean th\u1ecb tr\u01b0\u1eddng v\u1edbi tr\u00ean 15000 ch\u1ee9ng kho\u00e1n, l\u1edbn h\u01a1n r\u1ea5t nhi\u1ec1u so v\u1edbi s\u1ed1 l\u01b0\u1ee3ng ch\u1ee9ng kho\u00e1n giao d\u1ecbch tr\u00ean th\u1ecb tr\u01b0\u1eddng t\u1eadp trung NYSE (The\u00a0New York Stock Exchange).<\/p>\n

<\/h3>\n<\/p>\n

Th\u1ecb tr\u01b0\u1eddng \u0111\u01b0\u1ee3c v\u1eadn h\u00e0nh b\u1edfi m\u1ed9t h\u1ec7 th\u1ed1ng c\u00e1c nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng v\u00e0 c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi, c\u00f3 kho\u1ea3ng 600 nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng ho\u1ea1t \u0111\u1ed9ng t\u00edch c\u1ef1c tr\u00ean NASDAQ<\/span> v\u00e0 trung b\u00ecnh m\u1ed7i nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng \u0111\u1ea3m nh\u1eadn 8 lo\u1ea1i c\u1ed5 phi\u1ebfu.<\/p>\n

Th\u1ecb tr\u01b0\u1eddng NASDAQ<\/span> ch\u1ecbu s\u1ef1 qu\u1ea3n l\u00ed hai c\u1ea5p: U\u1ef7 ban ch\u1ee9ng kho\u00e1n M\u1ef9 (SEC) v\u00e0 Hi\u1ec7p h\u1ed9i c\u00e1c nh\u00e0 giao d\u1ecbch ch\u1ee9ng kho\u00e1n qu\u1ed1c gia M\u1ef9 (NASD) qu\u1ea3n l\u00ed tr\u1ef1c ti\u1ebfp. Th\u1ecb tr\u01b0\u1eddng NASDAQ<\/span> hi\u1ec7n nay \u0111\u00e3 \u0111\u01b0\u1ee3c n\u1ed1i m\u1ea1ng to\u00e0n c\u1ea7u v\u1edbi nhi\u1ec1u th\u1ecb tr\u01b0\u1eddng OTC kh\u00e1c tr\u00ean th\u1ebf gi\u1edbi.<\/p>\n

N\u0103m 1982, Hi\u1ec7p h\u1ed9i NASD th\u00e0nh l\u1eadp th\u1ecb tr\u01b0\u1eddng “tinh l\u1ecdc” c\u1ee7a NASDAQ<\/span> g\u1ecdi l\u00e0 h\u1ec7 th\u1ed1ng th\u1ecb tr\u01b0\u1eddng qu\u1ed1c gia (NNM – NASDAQ<\/span> National Market System). \u0110\u00e2y l\u00e0 b\u1ed9 ph\u1eadn th\u1ecb tr\u01b0\u1eddng c\u1ee7a NASDAQ<\/span> \u0111\u01b0\u1ee3c t\u1ed5 ch\u1ee9c cho c\u00e1c c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c giao d\u1ecbch s\u00f4i \u0111\u1ed9ng nh\u1ea5t v\u00e0 c\u00f3 ch\u1ea5t l\u01b0\u1ee3ng cao h\u01a1n, chi\u1ebfm t\u1edbi h\u01a1n 60% t\u1ed5ng gi\u00e1 tr\u1ecb giao d\u1ecbch tr\u00ean th\u1ecb tr\u01b0\u1eddng NASDAQ<\/span>.<\/p>\n

H\u00ecnh th\u1ee9c t\u1ed5 ch\u1ee9c th\u00f4ng tin<\/font><\/b><\/h3>\n

T\u1ea1i th\u1ecb tr\u01b0\u1eddng OTC c\u1ee7a M\u1ef9 c\u00f3 hai h\u00ecnh th\u1ee9c t\u1ed5 ch\u1ee9c th\u00f4ng tin ch\u00ednh l\u00e0 th\u00f4ng qua h\u1ec7 th\u1ed1ng “m\u00e0n h\u00ecnh” v\u00e0 qua “\u1ea5n ph\u1ea9m”.<\/p>\n

Th\u00f4ng qua h\u1ec7 th\u1ed1ng m\u00e0n h\u00ecnh NASDAQ<\/span>: V\u1edbi \u0111\u1eb7c \u0111i\u1ec3m \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111i\u1ec7n to\u00e1n ho\u00e1 v\u00e0 n\u1ed1i m\u1ea1ng v\u1edbi c\u00e1c th\u00e0nh vi\u00ean, h\u1ec7 th\u1ed1ng \u0111\u1ea3m nh\u1eadn vai tr\u00f2 cung c\u1ea5p gi\u00e1 ch\u1ee9ng kho\u00e1n cho c\u00e1c nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng, c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi v\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u1ec3 ti\u1ebfn h\u00e0nh th\u01b0\u01a1ng l\u01b0\u1ee3ng, \u0111\u00e0m ph\u00e1n tr\u01b0\u1edbc khi k\u00ed h\u1ee3p \u0111\u1ed3ng giao d\u1ecbch ch\u1ee9ng kho\u00e1n.<\/p>\n

Gi\u00e1 \u0111\u01b0\u1ee3c c\u00f4ng b\u1ed1 tr\u00ean h\u1ec7 th\u1ed1ng qua ba c\u1ea5p \u0111\u1ed9:<\/b><\/p>\n

– C\u1ea5p 1:<\/b> H\u1ec7 th\u1ed1ng cung c\u1ea5p cho nh\u1eefng th\u00e0nh vi\u00ean \u0111\u00e3 \u0111\u0103ng k\u00ed<\/span> nh\u1eefng th\u00f4ng tin c\u1eadp nh\u1eadt v\u1ec1 gi\u00e1 mua cao nh\u1ea5t v\u00e0 gi\u00e1 b\u00e1n th\u1ea5p nh\u1ea5t tr\u00ean th\u1ecb tr\u01b0\u1eddng, t\u1eeb \u0111\u00f3 h\u1ecd c\u00f3 th\u1ec3 t\u00ecm ra m\u1ee9c gi\u00e1 ph\u00f9 h\u1ee3p nh\u1ea5t \u0111\u1ec3 giao d\u1ecbch.<\/p>\n

– C\u1ea5p 2: <\/b>Th\u00f4ng qua c\u00e1c thi\u1ebft b\u1ecb m\u00e1y t\u00ednh n\u1ed1i v\u1edbi h\u1ec7 th\u1ed1ng \u0111\u01b0\u1ee3c l\u1eafp \u0111\u1eb7t \u1edf nh\u1eefng n\u01a1i c\u00f3 ho\u1ea1t \u0111\u1ed9ng giao d\u1ecbch nh\u1ed9n nh\u1ecbp nh\u1ea5t, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 bi\u1ebft \u0111\u01b0\u1ee3c gi\u00e1 y\u1ebft c\u1ee7a c\u00e1c nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng m\u1ed9t c\u00e1ch ch\u00ednh x\u00e1c v\u00e0 c\u1eadp nh\u1eadt nh\u1ea5t.<\/p>\n

– C\u1ea5p 3: <\/b>H\u1ec7 th\u1ed1ng cung c\u1ea5p cho c\u00e1c nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng \u0111\u00e3 \u0111\u01b0\u1ee3c NASD u\u1ef7 quy\u1ec1n gi\u00e1 y\u1ebft c\u1ee7a t\u1ea5t c\u1ea3 c\u00e1c nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng v\u00e0 cho ph\u00e9p h\u1ecd \u0111i\u1ec1u ch\u1ec9nh gi\u00e1 y\u1ebft c\u1ee7a m\u00ecnh.<\/p>\n

C\u00e1c b\u01b0\u1edbc ti\u1ebfn h\u00e0nh giao d\u1ecbch tr\u00ean th\u1ecb tr\u01b0\u1eddng NASDAQ<\/span><\/font><\/b><\/h3>\n

B\u01b0\u1edbc 1:<\/b> Nh\u00e0 \u0111\u1ea7u t\u01b0 A c\u00f3 nhu c\u1ea7u mua 100 c\u1ed5 phi\u1ebfu c\u1ee7a c\u00f4ng ty xyz \u0111\u01b0\u1ee3c ni\u00eam y\u1ebft tr\u00ean NASDAQ<\/span> g\u1ecdi \u0111i\u1ec7n cho ng\u01b0\u1eddi m\u00f4i gi\u1edbi B.<\/p>\n

B\u01b0\u1edbc 2:<\/b> Nh\u00e0 m\u00f4i gi\u1edbi B vi\u1ebft phi\u1ebfu \u0111\u1eb7t mua r\u1ed3i g\u1eedi cho nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng C \u0111\u1ea3m nh\u1eadn l\u00e0m gi\u00e1 cho c\u1ed5 phi\u1ebfu xyz.<\/p>\n

B\u01b0\u1edbc 3:<\/b> Nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng C t\u00ecm m\u1ed9t nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng kh\u00e1c mu\u1ed1n b\u00e1n 100 c\u1ed5 phi\u1ebfu c\u00f4ng ty xyz b\u1eb1ng 2 c\u00e1ch: th\u00f4ng qua C\u1ee5c b\u00e1o gi\u00e1 qu\u1ed1c gia\u00a0NQB ho\u1eb7c qua NASDAQ<\/span>.\u00a0<\/p>\n

– N\u1ebfu qua NASDAQ<\/span>, nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng C ph\u1ea3i l\u00e0 m\u1ed9t th\u00e0nh vi\u00ean v\u00e0 l\u00fac n\u00e0y, C s\u1ebd t\u00ecm nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng c\u00f3 m\u1ee9c gi\u00e1 th\u1ea5p nh\u1ea5t.\u00a0<\/p>\n

– C\u00f2n n\u1ebfu qua NQB, C s\u1ebd t\u00ecm tr\u00ean “b\u1ea3n b\u00e1o gi\u00e1 m\u00e0u h\u1ed3ng” \u0111\u1ec3 bi\u1ebft m\u1ed9t s\u1ed1 nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb \u00a0tr\u01b0\u1eddng kh\u00e1c \u0111ang n\u1eafm gi\u1eef c\u1ed5 phi\u1ebfu xyz v\u00e0 bi\u1ebft gi\u00e1 c\u1ea3 hi\u1ec7n t\u1ea1i c\u1ee7a t\u1eebng ng\u01b0\u1eddi v\u00e0 ch\u1ecdn m\u1ee9c gi\u00e1 ph\u00f9 h\u1ee3p cho giao d\u1ecbch c\u1ee7a m\u00ecnh.<\/p>\n

B\u01b0\u1edbc 4:<\/b> Nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng C chuy\u1ec3n k\u1ebft qu\u1ea3 giao d\u1ecbch t\u1edbi B v\u1edbi m\u1ee9c gi\u00e1 \u0111\u01b0\u1ee3c k\u00ea cao h\u01a1n, B s\u1ebd b\u00e1o l\u1ea1i cho kh\u00e1ch h\u00e0ng k\u1ebft qu\u1ea3 giao d\u1ecbch c\u00f3 k\u00e8m ph\u00ed hoa h\u1ed3ng m\u00f4i gi\u1edbi.<\/p>\n

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

\n Th\u1ecb tr\u01b0\u1eddng OTC M\u1ef9 l\u00e0 m\u00f4 h\u00ecnh th\u1ecb tr\u01b0\u1eddng OTC \u0111i\u1ec3n h\u00ecnh \u0111\u01b0\u1ee3c ph\u00e1t tri\u1ec3n t\u1eeb th\u1ecb tr\u01b0\u1eddng phi t\u1eadp trung t\u1ef1 do mang t\u00ednh truy\u1ec1n th\u1ed1ng, giao d\u1ecbch th\u00f4ng qua th\u01b0\u01a1ng l\u01b0\u1ee3ng gi\u00e1 tr\u1ef1c ti\u1ebfp “m\u1eb7t \u0111\u1ed1i m\u1eb7t” v\u00e0 ch\u1ee7 y\u1ebfu qua \u0111i\u1ec7n tho\u1ea1i.\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\/31596"}],"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=31596"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31596\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=31596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=31596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=31596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}