{"id":31686,"date":"2023-12-07T10:55:51","date_gmt":"2023-12-07T10:55:51","guid":{"rendered":"https:\/\/masterskills.org\/blog\/chung-khoan-phai-sinh-derivatives-la-gi-cac-cong-cu-phai-sinh.html"},"modified":"2023-12-23T09:39:09","modified_gmt":"2023-12-23T02:39:09","slug":"chung-khoan-phai-sinh-derivatives-la-gi-cac-cong-cu-phai-sinh","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/chung-khoan-phai-sinh-derivatives-la-gi-cac-cong-cu-phai-sinh.html","title":{"rendered":"Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh (Derivatives) l\u00e0 g\u00ec? C\u00e1c c\u00f4ng c\u1ee5 ph\u00e1i sinh"},"content":{"rendered":"
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H\u00ecnh minh h\u1ecda (Ngu\u1ed3n: investopedia)<\/p>\n<\/figcaption><\/figure>\n

Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh<\/font><\/h2>\n

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

Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh<\/b> trong ti\u1ebfng Anh g\u1ecdi l\u00e0 Derivatives<\/b>.<\/p>\n

Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh<\/b> l\u00e0 nh\u1eefng c\u00f4ng c\u1ee5 \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh tr\u00ean c\u01a1 s\u1edf nh\u1eefng c\u00f4ng c\u1ee5 \u0111\u00e3 c\u00f3 nh\u01b0 c\u1ed5 phi\u1ebfu, tr\u00e1i phi\u1ebfu, nh\u1eb1m nhi\u1ec1u m\u1ee5c ti\u00eau kh\u00e1c nhau nh\u01b0 ph\u00e2n t\u00e1n r\u1ee7i ro, b\u1ea3o v\u1ec7 l\u1ee3i nhu\u1eadn ho\u1eb7c t\u1ea1o l\u1ee3i nhu\u1eadn.<\/p>\n

Th\u1ecb tr\u01b0\u1eddng c\u00e1c ch\u1ee9ng kho\u00e1n ph\u00e1i sinh l\u00e0 th\u1ecb tr\u01b0\u1eddng ph\u00e1t h\u00e0nh, mua \u0111i b\u00e1n l\u1ea1i c\u00e1c ch\u1ee9ng t\u1eeb t\u00e0i ch\u00ednh, nh\u01b0 quy\u1ec1n mua c\u1ed5 phi\u1ebfu, ch\u1ee9ng quy\u1ec1n, h\u1ee3p \u0111\u1ed3ng quy\u1ec1n ch\u1ecdn.<\/p>\n

C\u00e1c c\u00f4ng c\u1ee5 ph\u00e1i sinh<\/font><\/h3>\n

C\u00e1c c\u00f4ng c\u1ee5 ph\u00e1i sinh r\u1ea5t phong ph\u00fa v\u00e0 \u0111a d\u1ea1ng, nh\u01b0ng nh\u00ecn chung c\u00f3 b\u1ed1n c\u00f4ng c\u1ee5 ch\u00ednh nh\u01b0 sau:<\/p>\n

–\u00a0H\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai\u00a0(futures contract)<\/b> l\u00e0 vi\u1ec7c th\u1ecfa thu\u1eadn gi\u1eefa c\u00e1c b\u00ean v\u1ec1 nh\u1eefng ngh\u0129a v\u1ee5 mua b\u00e1n ph\u1ea3i th\u1ef1c hi\u1ec7n theo m\u1ee9c gi\u00e1 \u0111\u00e3 x\u00e1c \u0111\u1ecbnh cho t\u01b0\u01a1ng lai m\u00e0 kh\u00f4ng ph\u1ee5 thu\u1ed9c v\u00e0o gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng t\u1ea1i th\u1eddi \u0111i\u1ec3m \u0111\u00f3.<\/p>\n

–\u00a0H\u1ee3p \u0111\u1ed3ng k\u00ec h\u1ea1n<\/b>\u00a0(forward contract)<\/b> l\u00e0 m\u1ed9t th\u1ecfa thu\u1eadn trong \u0111\u00f3 m\u1ed9t ng\u01b0\u1eddi mua v\u00e0 m\u1ed9t ng\u01b0\u1eddi b\u00e1n ch\u1ea5p thu\u1eadn th\u1ef1c hi\u1ec7n m\u1ed9t giao d\u1ecbch h\u00e0ng h\u00f3a v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng x\u00e1c \u0111\u1ecbnh, t\u1ea1i m\u1ed9t th\u1eddi \u0111i\u1ec3m x\u00e1c \u0111\u1ecbnh trong t\u01b0\u01a1ng lai v\u1edbi m\u1ed9t m\u1ee9c gi\u00e1 \u0111\u01b0\u1ee3c \u1ea5n \u0111\u1ecbnh v\u00e0o ng\u00e0y h\u00f4m nay. H\u00e0ng h\u00f3a \u1edf \u0111\u00e2y c\u00f3 th\u1ec3 l\u00e0 b\u1ea5t k\u00ec<\/span> th\u1ee9 h\u00e0ng h\u00f3a n\u00e0o: t\u1eeb n\u00f4ng s\u1ea3n, ti\u1ec1n t\u1ec7 cho t\u1edbi c\u00e1c ch\u1ee9ng kho\u00e1n.\u00a0<\/p>\n

\u0110i\u1ec3m kh\u00e1c bi\u1ec7t c\u1ee7a forward v\u1edbi future l\u00e0 gi\u00e1 c\u1ea3 do hai b\u00ean t\u1ef1 th\u1ecfa thu\u1eadn v\u1edbi nhau d\u1ef1a theo nh\u1eefng \u01b0\u1edbc l\u01b0\u1ee3ng mang t\u00ednh c\u00e1 nh\u00e2n v\u00e0 gi\u00e1 n\u00e0y v\u00e0o th\u1eddi \u0111i\u1ec3m giao nh\u1eadn h\u00e0ng h\u00f3a c\u00f3 th\u1ec3 thay \u0111\u1ed5i, t\u0103ng l\u00ean gi\u1ea3m xu\u1ed1ng so v\u1edbi m\u1ee9c gi\u00e1 \u0111\u00e3 k\u00fd k\u1ebft trong h\u1ee3p \u0111\u1ed3ng.<\/p>\n

–\u00a0Quy\u1ec1n l\u1ef1a ch\u1ecdn c\u1ed5 phi\u1ebfu<\/b>\u00a0(Options)<\/b> l\u00e0 quy\u1ec1n c\u1ee7a c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 (nh\u01b0ng kh\u00f4ng ph\u1ea3i l\u00e0 ngh\u0129a v\u1ee5) \u0111\u01b0\u1ee3c mua hay b\u00e1n m\u1ed9t s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu x\u00e1c \u0111\u1ecbnh tr\u01b0\u1edbc theo m\u1ed9t gi\u00e1 \u0111\u00e3 x\u00e1c \u0111\u1ecbnh tr\u01b0\u1edbc v\u00e0 th\u1ea5p h\u01a1n gi\u00e1 hi\u1ec7n h\u00e0nh c\u1ee7a c\u1ed5 phi\u1ebfu \u0111\u00f3 tr\u00ean th\u1ecb tr\u01b0\u1eddng.\u00a0<\/p>\n

C\u00f3 hai lo\u1ea1i option l\u00e0 option b\u00e1n v\u00e0 option mua. Options d\u00e0nh cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00edch c\u1ea3m gi\u00e1c an to\u00e0n khi h\u1ecd ch\u1eafc ch\u1eafn h\u1ecd s\u1ebd \u0111\u01b0\u1ee3c mua v\u00e0 b\u00e1n v\u1edbi gi\u00e1 \u1ea5n \u0111\u1ecbnh, h\u1ecd thu l\u1ee3i nhu\u1eadn kh\u00f4ng cao nh\u01b0ng b\u00f9 l\u1ea1i s\u1ebd r\u1ea5t \u1ed5n \u0111\u1ecbnh. <\/p>\n

– H\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i (swaps contract)<\/b> l\u00e0 vi\u1ec7c b\u00e1n m\u1ed9t ngo\u1ea1i t\u1ec7 nh\u01b0ng \u0111\u1ed3ng th\u1eddi k\u00ed h\u1ee3p \u0111\u1ed3ng mua l\u1ea1i n\u00f3 v\u00e0o m\u1ed9t th\u1eddi \u0111i\u1ec3m n\u00e0o \u0111\u00f3 trong t\u01b0\u01a1ng lai, ho\u1eb7c mua m\u1ed9t ngo\u1ea1i t\u1ec7 nh\u01b0ng \u0111\u1ed3ng th\u1eddi l\u1ea1i k\u00ed h\u1ee3p \u0111\u1ed3ng b\u00e1n l\u1ea1i n\u00f3 v\u00e0o m\u1ed9t th\u1eddi \u0111i\u1ec3m kh\u00e1c trong t\u01b0\u01a1ng lai.\u00a0<\/i>(T\u00e0i li\u1ec7u tham kh\u1ea3o: Nguy\u1ec5n V\u0103n Ng\u1ecdc, T\u1eeb \u0111i\u1ec3n Kinh t\u1ebf h\u1ecdc, \u0110\u1ea1i h\u1ecdc Kinh t\u1ebf Qu\u1ed1c d\u00e2n)<\/i>.<\/p>\n

\u0110\u00e2y l\u00e0 m\u1ed9t c\u00f4ng c\u1ee5 ph\u00e1i sinh d\u1ef1a tr\u00ean s\u1ef1 trao \u0111\u1ed5i v\u00e0 th\u1ef1c hi\u1ec7n h\u1ee3p \u0111\u1ed3ng trong l\u0129nh v\u1ef1c l\u00e3i su\u1ea5t v\u00e0 ti\u1ec1n t\u1ec7. Nhi\u1ec1u c\u00f4ng ty, ng\u00e2n h\u00e0ng mu\u1ed1n c\u00f3 swaps \u0111\u1ec3 \u1ea5n \u0111\u1ecbnh t\u1ec9 l\u1ec7 l\u00e3i su\u1ea5t nh\u1eb1m gi\u1ea3m thi\u1ec3u s\u1ef1 b\u1ea5t \u1ed5n trong kinh doanh. Ngo\u00e0i ra, swaps c\u0169ng r\u1ea5t hi\u1ec7u qu\u1ea3 trong vi\u1ec7c huy \u0111\u1ed9ng v\u1ed1n.<\/p>\n

(T\u00e0i li\u1ec7u tham kh\u1ea3o: C\u1ea9m nang \u0111\u1ea7u t\u01b0 tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n, NXB T\u1eeb \u0111i\u1ec3n B\u00e1ch Khoa)<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n C\u00e1c ch\u1ee9ng kho\u00e1n ph\u00e1i sinh (ti\u1ebfng Anh: Derivatives) s\u1ebd l\u00e0 \u0111\u00f2n b\u1ea9y, l\u00e0m t\u0103ng nhi\u1ec1u l\u1ea7n gi\u00e1 tr\u1ecb c\u00e1c \u0111\u1ed1i t\u01b0\u1ee3ng \u0111\u1ea7u t\u01b0 nh\u01b0 c\u1ed5 phi\u1ebfu, tr\u00e1i phi\u1ebfu, \u0111\u1ec3 \u0111\u1ea3m b\u1ea3o r\u1eb1ng n\u1ebfu gi\u00e1 c\u1ee7a ch\u00fang c\u00f3 thay \u0111\u1ed5i th\u00ec gi\u00e1 c\u1ee7a c\u00e1c c\u00f4ng c\u1ee5 n\u00e0y v\u1eabn s\u1ebd \u0111\u01b0\u1ee3c duy tr\u00ec \u1edf m\u1ee9c ban \u0111\u1ea7u.\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\/31686"}],"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=31686"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31686\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=31686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=31686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=31686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}