Frequently Asked Questions (FAQ)

A Client can transfer funds from a Derivatives account to its Underlying Securities account and vice versa if its Underlying Securities account uses the omnibus account model.

• ACBS requires the Client to deposit additional margin when:
  • The Client’s margin utilization ratio is greater than or equal to Warning Level 2 as prescribed by ACBS, or;
  • The Client’s Derivative Account has an Rc Call greater than or equal to the minimum Rc call level prescribed by ACBS;
• When the Money in the Client’s Derivatives account at ACBS after adding/subtracting position profits/losses, transaction fees, taxes, etc. expected to arise on the trading day is less than the Minimum Retention (Min Reserve), the Client’s Derivatives account will have a “Rc Call” value > 0. (*) The Rc Call value is the amount the Client needs to deposit additionally
• The Client must make an additional deposit within the time limit as notified by ACBS. Otherwise, ACBS will process the Client’s Derivatives account.

• Contract name: VN30 Index Futures
• Contract code: VN30FYYMM (Y: year, M: month)
• Underlying asset: VN30 Index
• Expiry month: Nearest month, next month, last month of the nearest quarter, last month of the next quarter
• Contract size: 100,000 VND * VN30 Index points
• Contract multiplier: 100,000 VND
• Trading method: Order matching and negotiation
• Minimum trading volume: 1 contract
• Trading unit: 1 contract
• Reference price: Final settlement price of the previous trading day or theoretical price on the first trading day.
• Price fluctuation range: ± 7%
• Price step: 0.1 index point (equivalent to 10,000 VND)
• Order limit: 500 contracts
• Position limit: Individual 5,000 contracts; Organization 10,000 contracts
• Applicable order types: ATO, LO, MTL, MOK, MAK, ATC
• Order modification, cancellation: Only valid for unexecuted orders or the remaining part of unexecuted orders; Orders cannot be modified or canceled during the periodic order matching session; put through transactions that have been established on the trading system (with the participation of two trading parties) cannot be modified or canceled.

• Minimum retention at ACBS (Min Reserve): is the minimum amount of money that ACBS requires that the Client must have in the derivatives account at ACBS. This money can be used to pay fees, taxes, position losses, etc.
• Minimum retention at ACBS = Client’s margin at VSD * Minimum retention ratio as prescribed by ACBS

• Margin utilization ratio: is the ratio between the required maintenance margin value and the total valid margin value
• In which:
  • Maintenance margin requirement (MR): is the total margin value that customers must deposit to maintain positions

    MR = IM + VM + Security deposit for government bond futures contracts (only applicable to futures contracts that have not yet submitted transfer bonds to fulfill payment obligations).

  • Initial Margin (IM): is the minimum deposit value that the Customer must submit for derivative securities positions that the Customer plans to open before executing the transaction according to the ratio prescribed by ACBS and according to legal regulations.
  • Variable Margin (VM): Determined on the basis of the position profit and loss during the trading session of open positions on the Client’s Derivatives account and the difference between:
    • For existing positions on the account: The transaction price is updated during the trading session with the final settlement price of the previous trading day (for positions that have been on the account since the end of the previous trading day), or the settlement price for opening the position (for positions that have just been opened during the day)
    • For closed positions during the day: The settlement price for closing the position compared with the final settlement price of the previous trading day (for positions that have been on the account since the end of the previous trading day), or the settlement price for opening the position (for positions that have just been opened during the day)
    • The variable margin is only counted towards the required maintenance margin in the event that the position profit or loss of the portfolio on the Client’s account is in a loss position.

ACBS sets warning thresholds at the following three levels to monitor the Client’s margin asset utilization rate during the trading session:

• Warning level 1: When the margin asset utilization ratio reaches this threshold, the Client is not allowed to open new positions except to make a corresponding transaction to close out the position.

• Warning level 2: When the margin utilization ratio reaches this threshold, the Client must add margin or close existing positions to bring the margin utilization ratio to at least the level of warning level 1 within the time required by ACBS. Otherwise, ACBS will process the Client’s Derivatives account.

• Warning level 3: When the margin usage ratio reaches this threshold, ACBS has the right to immediately handle the Customer’s Derivatives account, specifically closing current positions to bring the margin usage ratio to at least warning level 1 and implementing other measures specified in the derivatives trading account opening contract.

• Position profit/loss is determined daily (T day) and settled on the next business day (T+1 day).
• Profit/loss is determined based on the difference between the end-of-day settlement price and the transaction price (for new positions opened during the day) or the settlement price of the previous day (for positions opened before the current day).
• This profit/loss will be recorded in the Client’s Derivatives account at ACBS.

• Additional margin notification will be sent to the Client via SMS to the Client’s REGISTERED mobile phone number at ACBS and the Client’s Email.

• ACBS fee is 3,000 VND/contract
• Types of fees paid to Vietnam Securities Depository and Clearing Corporation (VSDC) and HNX Stock Exchange:
  • Derivative transaction fee (paid to HNX): 2,700 VND/transaction/contract.
  • Position management fee (paid to VSDC): 2,550 VND/position/account/day.
  • Margin management fee (paid to VSDC): 0.0024% of the cumulative value of the margin balance; minimum 100,000 VND/account/month; maximum 1,600,000 VND/account/month.

• Customers come directly to the transaction counters at ACBS: Customers can refer to ACBS’s network of operations at http://acbs.com.vn/dia-chi
• In case customers need support in opening an account, customers can contact ACBS (via Call Center 1900.55.55.33, Livechat, Email: acbs@acbs.com.vn). ACBS Brokerage staff will contact and support customers.

Yes. For example, you have 20 million in your Margin Account, you lose 2 million. At the end of the day, the maximum amount you are allowed to withdraw is 18 million. Thus, VSDC still charges a management fee for the margin assets over 2 million that cannot be withdrawn.

To open a Derivatives account, the Client needs to have an Underlying Securities account at ACBS. Therefore, to open a Derivatives account at ACBS for the Client, ACBS will simultaneously open an Underlying Securities account and a Derivatives account for the Client.