This guide is prepared with attention to introduce how to perform derivative trading steps for domestic and foreign individual and institutional customers at Phu Hung Securities Corporation (“PHS”). This guide is compiled and updated regularly by PHS.

Domestic customers are individuals having Vietnamese nationality, organizations established and operating under the provisions of Vietnamese law.

Foreign customers are individuals that have foreign nationality; institutions established in accordance with foreign laws and perform business investing in Vietnam; institutions established in accordance with laws of Vietnam and own 51% or more of chartered capital.

Domestic and foreign individual and institutional customers trading derivatives at Vietnam Derivatives Market must comply with the Circular 11/2016/TT-BTC dated January 19, 2016 of the Ministry of Finance on derivatives and derivatives market.

For trading derivatives at PHS, domestic individual Customers need:

  • Underlying securities trading account opened at PHS.
  • Derivatives trading account opened at PHS.

For foreign customers, they must register their trading codes in accordance with the securities law on foreign investment activities in the securities market before opening derivatives trading accounts.

Guide for trading derivatives

Step 1: Open account 

1.1 Conditions for opening account
  • Customers must have an underlying securities trading account at PHS before registering open derivatives trading account at PHS 
  • Individuals 18 years of age and older; Institutional must have legal status; Foreign customers must have trading code issued by VSD
  • Customers can trading derivatives after 01 working days

 

1.2 Document for opening account

Domestic customers

Foreign customers

Individual

Institutional

Individual

Institutional

- Copy of ID card is still valid

- Notarized copy valid on time of the Establishment and Operation License or the Business Registration Certificate as prescribed.

- Copy of decide to appoint (If any)

- Copy of Charter (If any)

- Copy of ID card/Passport of legal representative

- Copy of Passport (consular legalization)

- Copy of Approval for securities trading code (VSD form)

- Notarized copy valid on time of Establishment and operation licenses or Business registration certificates according to regulations or equivalent documents granted by competent foreign management agencies/investment licenses/Branch establishment (for with branches of foreign organizations in Vietnam)

- Copy of decide to appoint (If any)

- Copy of Charter (If any)

- Copy of ID card/Passport of related persons of the institutional.

-Copy of Approval for securities trading code (VSD form)

Step 2: Trading Derivatives

Before deposit on a derivative margin account at VSD, Customer must deposit into the derivatives trading account at PHS

2.1 Customer deposit into derivatives trading account
  • Deposit into your derivatives trading account at PHS.

Refer to payment instructions here

Before starting derivative trading, Customers make a deposit to margin account at VSD by the following ways:

2.2 Customers make deposit margin
  • Customers transfer money from the derivatives trading account to the margin account via the online interface of PHS in the utility tab
  • Customers bring ID card for Domestic Customers and Passport for Foreign Customers still valid to Branches/ Trading Offices of PHS to request for derivative deposit
  • Customer make deposit margin via call center: Contact

To start trading derivatives, Customers make orders in the following ways:

2.3 Customer placing order buy/sell derivatives
  • On online interface of PHS at Mobile App: IOS/Android
  • Via call center of PHS: Link Home page: Contact
  • Via Account management officer at Branches/Trading Offices of PHS
  • Go directly to the Branches/Trading Offices of PHS

Step 3: Obligations while trading derivatives

During the daily trading period, customers must manage and regularly monitor the status of the customers's derivative trading account through The derivative trading account parameter here

During the trading session, customers actively monitor the use rate of collateral, PHS does not send notice. After the session end, PHS will send Email or SMS to notify customers of obligations to perform (if any) within the time specified by PHS.

Step 4: Daily profit/loss payment

PHS will make everyday payment of position profit/loss for Customer on the next trading day or according to PHS's regulations from time to time.

If the Customers have profit, the profit will be increased, otherwise, if there is a loss, the loss amount will be deducted and paid from derivatives trading account 

The profit/loss amount is determined
  • For open and close positions in the day: Profit/loss is calculated based on the difference between the opening and closing position price
  • For the position opened in the day: Profit/loss is calculated based on the difference between the open price of position and the settlement price at the end of the day.
  • For positions that are not yet due: Profit/loss is calculated based on the difference between the settlement price at the end of the previous trading day and the settlement price at the end of the day.
  • At the last trading day, profit or loss is calculated based on the difference between the last settlement price and the settlement price at the end of the previous trading day, or with the position open price of the day.