{"id":191461,"date":"2025-01-24T09:31:19","date_gmt":"2025-01-24T09:31:19","guid":{"rendered":"https:\/\/pocketoption.com\/blog\/news-events\/data\/derivatives-2\/"},"modified":"2025-01-24T09:31:19","modified_gmt":"2025-01-24T09:31:19","slug":"derivatives","status":"publish","type":"post","link":"https:\/\/pocketoption.com\/blog\/vt\/knowledge-base\/markets\/derivatives\/","title":{"rendered":"Ti\u1ec1m n\u0103ng c\u1ee7a Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh"},"content":{"rendered":"
<\/div><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":183878,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-191461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets"],"acf":{"h1":"Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh trong th\u1ecb tr\u01b0\u1eddng","h1_source":{"label":"H1","type":"text","formatted_value":"Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh trong th\u1ecb tr\u01b0\u1eddng"},"description":"Kh\u00e1m ph\u00e1 c\u00e1ch ch\u1ee9ng kho\u00e1n ph\u00e1i sinh c\u00f3 th\u1ec3 n\u00e2ng cao qu\u1ea3n l\u00fd r\u1ee7i ro, \u0111a d\u1ea1ng h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0 v\u00e0 m\u1edf ra c\u01a1 h\u1ed9i giao d\u1ecbch m\u1edbi.","description_source":{"label":"Description","type":"textarea","formatted_value":"Kh\u00e1m ph\u00e1 c\u00e1ch ch\u1ee9ng kho\u00e1n ph\u00e1i sinh c\u00f3 th\u1ec3 n\u00e2ng cao qu\u1ea3n l\u00fd r\u1ee7i ro, \u0111a d\u1ea1ng h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0 v\u00e0 m\u1edf ra c\u01a1 h\u1ed9i giao d\u1ecbch m\u1edbi."},"intro":"B\u1ea1n \u0111ang t\u00ecm c\u00e1ch n\u00e2ng cao chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch c\u1ee7a m\u00ecnh l\u00ean m\u1ed9t t\u1ea7m cao m\u1edbi trong khi v\u1eabn qu\u1ea3n l\u00fd r\u1ee7i ro hi\u1ec7u qu\u1ea3? Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh cung c\u1ea5p c\u00e1c c\u00f4ng c\u1ee5 m\u1ea1nh m\u1ebd \u0111\u1ec3 ph\u00f2ng ng\u1eeba bi\u1ebfn \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng, t\u1ed1i \u01b0u h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0 v\u00e0 ti\u1ebfp c\u1eadn c\u00e1c xu h\u01b0\u1edbng th\u1ecb tr\u01b0\u1eddng c\u1ee5 th\u1ec3. ","intro_source":{"label":"Intro","type":"text","formatted_value":"B\u1ea1n \u0111ang t\u00ecm c\u00e1ch n\u00e2ng cao chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch c\u1ee7a m\u00ecnh l\u00ean m\u1ed9t t\u1ea7m cao m\u1edbi trong khi v\u1eabn qu\u1ea3n l\u00fd r\u1ee7i ro hi\u1ec7u qu\u1ea3? Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh cung c\u1ea5p c\u00e1c c\u00f4ng c\u1ee5 m\u1ea1nh m\u1ebd \u0111\u1ec3 ph\u00f2ng ng\u1eeba bi\u1ebfn \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng, t\u1ed1i \u01b0u h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0 v\u00e0 ti\u1ebfp c\u1eadn c\u00e1c xu h\u01b0\u1edbng th\u1ecb tr\u01b0\u1eddng c\u1ee5 th\u1ec3. "},"body_html":"

Hi\u1ec3u v\u1ec1 Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh<\/h2><\/div>

Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh l\u00e0 c\u00e1c h\u1ee3p \u0111\u1ed3ng t\u00e0i ch\u00ednh c\u00f3 gi\u00e1 tr\u1ecb ph\u1ee5 thu\u1ed9c v\u00e0o hi\u1ec7u su\u1ea5t c\u1ee7a m\u1ed9t t\u00e0i s\u1ea3n c\u01a1 s\u1edf, nh\u01b0 c\u1ed5 phi\u1ebfu, h\u00e0ng h\u00f3a, ti\u1ec1n t\u1ec7 ho\u1eb7c ch\u1ec9 s\u1ed1. Nh\u1eefng c\u00f4ng c\u1ee5 n\u00e0y \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng r\u1ed9ng r\u00e3i trong th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh \u0111\u1ec3 qu\u1ea3n l\u00fd r\u1ee7i ro, ph\u00e1t tri\u1ec3n chi\u1ebfn l\u01b0\u1ee3c v\u00e0 ph\u1ea3n \u1ee9ng v\u1edbi bi\u1ebfn \u0111\u1ed9ng gi\u00e1.<\/p><\/div>

C\u00f3 m\u1ed9t s\u1ed1 lo\u1ea1i ch\u1ee9ng kho\u00e1n ph\u00e1i sinh, m\u1ed7i lo\u1ea1i \u0111\u01b0\u1ee3c thi\u1ebft k\u1ebf cho c\u00e1c m\u1ee5c ti\u00eau c\u1ee5 th\u1ec3:<\/p><\/div>

  • H\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai<\/li>
  • H\u1ee3p \u0111\u1ed3ng k\u1ef3 h\u1ea1n<\/li>
  • Quy\u1ec1n ch\u1ecdn<\/li>
  • Ho\u00e1n \u0111\u1ed5i<\/li><\/ul><\/div>

    M\u1ed7i lo\u1ea1i ch\u1ee9ng kho\u00e1n ph\u00e1i sinh c\u00f3 \u0111\u1eb7c \u0111i\u1ec3m v\u00e0 c\u00f4ng d\u1ee5ng ri\u00eang, ph\u1ee5c v\u1ee5 cho c\u00e1c m\u1ee5c ti\u00eau giao d\u1ecbch v\u00e0 h\u1ed3 s\u01a1 r\u1ee7i ro kh\u00e1c nhau.<\/p><\/div>

    C\u00e1c lo\u1ea1i ch\u1ee9ng kho\u00e1n ph\u00e1i sinh ch\u00ednh<\/p><\/div>

    Lo\u1ea1i<\/th>M\u00f4 t\u1ea3<\/th>\u0110\u1eb7c \u0111i\u1ec3m ch\u00ednh<\/th><\/tr><\/thead>
    T\u01b0\u01a1ng lai<\/td>H\u1ee3p \u0111\u1ed3ng chu\u1ea9n h\u00f3a \u0111\u1ec3 mua\/b\u00e1n v\u00e0o m\u1ed9t ng\u00e0y trong t\u01b0\u01a1ng lai<\/td>\u0110\u01b0\u1ee3c giao d\u1ecbch tr\u00ean s\u00e0n, t\u00ednh thanh kho\u1ea3n cao<\/td><\/tr>
    K\u1ef3 h\u1ea1n<\/td>H\u1ee3p \u0111\u1ed3ng t\u00f9y ch\u1ec9nh \u0111\u1ec3 mua\/b\u00e1n v\u00e0o m\u1ed9t ng\u00e0y trong t\u01b0\u01a1ng lai<\/td>Giao d\u1ecbch OTC, t\u00ednh thanh kho\u1ea3n th\u1ea5p h\u01a1n<\/td><\/tr>
    Quy\u1ec1n ch\u1ecdn<\/td>Quy\u1ec1n (kh\u00f4ng ph\u1ea3i ngh\u0129a v\u1ee5) mua\/b\u00e1n \u1edf m\u1ee9c gi\u00e1 \u0111\u1ecbnh s\u1eb5n<\/td>Cung c\u1ea5p t\u00ednh linh ho\u1ea1t, gi\u1edbi h\u1ea1n r\u1ee7i ro gi\u1ea3m gi\u00e1<\/td><\/tr>
    Ho\u00e1n \u0111\u1ed5i<\/td>Th\u1ecfa thu\u1eadn trao \u0111\u1ed5i d\u00f2ng ti\u1ec1n<\/td>Th\u01b0\u1eddng \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 ph\u00f2ng ng\u1eeba r\u1ee7i ro l\u00e3i su\u1ea5t ho\u1eb7c ti\u1ec1n t\u1ec7<\/td><\/tr><\/tbody><\/table><\/div><\/div>

    Vai tr\u00f2 c\u1ee7a Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh trong th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh<\/h3><\/div>

    Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh ph\u1ee5c v\u1ee5 m\u1ed9t s\u1ed1 ch\u1ee9c n\u0103ng quan tr\u1ecdng trong h\u1ec7 sinh th\u00e1i t\u00e0i ch\u00ednh:<\/p><\/div>

    • Qu\u1ea3n l\u00fd r\u1ee7i ro v\u00e0 ph\u00f2ng ng\u1eeba<\/li>
    • Kh\u00e1m ph\u00e1 gi\u00e1<\/li>
    • Hi\u1ec7u qu\u1ea3 th\u1ecb tr\u01b0\u1eddng<\/li>
    • \u0110\u1ea7u c\u01a1<\/li>
    • C\u01a1 h\u1ed9i arbitrage<\/li><\/ul><\/div>

      Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh n\u00e2ng cao s\u1ef1 \u1ed5n \u0111\u1ecbnh v\u00e0 thanh kho\u1ea3n c\u1ee7a th\u1ecb tr\u01b0\u1eddng b\u1eb1ng c\u00e1ch h\u1ed7 tr\u1ee3 qu\u1ea3n l\u00fd r\u1ee7i ro, \u0111\u1ea7u c\u01a1 v\u00e0 kh\u00e1m ph\u00e1 gi\u00e1. C\u00e1c nh\u00e0 giao d\u1ecbch c\u00f3 th\u1ec3 t\u1eadn d\u1ee5ng nh\u1eefng c\u00f4ng c\u1ee5 n\u00e0y \u0111\u1ec3 qu\u1ea3n l\u00fd r\u1ee7i ro, \u0111a d\u1ea1ng h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0 ho\u1eb7c nh\u1eafm v\u00e0o c\u00e1c xu h\u01b0\u1edbng th\u1ecb tr\u01b0\u1eddng c\u1ee5 th\u1ec3, s\u1eed d\u1ee5ng c\u00e1c chi\u1ebfn l\u01b0\u1ee3c ph\u00f9 h\u1ee3p v\u1edbi m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh c\u1ee7a h\u1ecd.<\/p><\/div>

      C\u00e1c y\u1ebfu t\u1ed1 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn gi\u00e1 Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh<\/h2><\/div>

      M\u1ed9t s\u1ed1 y\u1ebfu t\u1ed1 c\u00f3 th\u1ec3 t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn gi\u00e1 c\u1ee7a Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh:<\/p><\/div>

      • Gi\u00e1 c\u1ee7a t\u00e0i s\u1ea3n c\u01a1 s\u1edf<\/li>
      • Th\u1eddi gian \u0111\u1ebfn khi \u0111\u00e1o h\u1ea1n<\/li>
      • Bi\u1ebfn \u0111\u1ed9ng<\/li>
      • L\u00e3i su\u1ea5t<\/li>
      • C\u1ed5 t\u1ee9c (\u0111\u1ed1i v\u1edbi ch\u1ee9ng kho\u00e1n ph\u00e1i sinh c\u1ed5 phi\u1ebfu)<\/li><\/ul><\/div>

        Hi\u1ec3u v\u1ec1 nh\u1eefng y\u1ebfu t\u1ed1 n\u00e0y l\u00e0 ch\u00eca kh\u00f3a \u0111\u1ec3 d\u1ef1 \u0111o\u00e1n bi\u1ebfn \u0111\u1ed9ng gi\u00e1 trong giao d\u1ecbch ch\u1ee9ng kho\u00e1n ph\u00e1i sinh. Theo d\u00f5i c\u00e1c y\u1ebfu t\u1ed1 nh\u01b0 gi\u00e1 t\u00e0i s\u1ea3n, bi\u1ebfn \u0111\u1ed9ng v\u00e0 th\u1eddi gian \u0111\u00e1o h\u1ea1n gi\u00fap tinh ch\u1ec9nh chi\u1ebfn l\u01b0\u1ee3c v\u00e0 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh s\u00e1ng su\u1ed1t.<\/p><\/div>

        C\u00e1c y\u1ebfu t\u1ed1 ch\u00ednh \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn gi\u00e1 Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh<\/p><\/div>

        Y\u1ebfu t\u1ed1<\/th>M\u00f4 t\u1ea3<\/th>V\u00ed d\u1ee5 v\u1ec1 t\u00e1c \u0111\u1ed9ng<\/th><\/tr><\/thead>
        Gi\u00e1 t\u00e0i s\u1ea3n c\u01a1 s\u1edf<\/td>Gi\u00e1 th\u1ecb tr\u01b0\u1eddng hi\u1ec7n t\u1ea1i c\u1ee7a t\u00e0i s\u1ea3n<\/td>\u1ea2nh h\u01b0\u1edfng tr\u1ef1c ti\u1ebfp \u0111\u1ebfn ph\u00ed quy\u1ec1n ch\u1ecdn<\/td><\/tr>
        Th\u1eddi gian \u0111\u1ebfn khi \u0111\u00e1o h\u1ea1n<\/td>Th\u1eddi gian c\u00f2n l\u1ea1i cho \u0111\u1ebfn khi h\u1ee3p \u0111\u1ed3ng h\u1ebft h\u1ea1n<\/td>S\u1ef1 suy gi\u1ea3m theo th\u1eddi gian \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn gi\u00e1 tr\u1ecb quy\u1ec1n ch\u1ecdn<\/td><\/tr>
        Bi\u1ebfn \u0111\u1ed9ng<\/td>\u0110o l\u01b0\u1eddng s\u1ef1 bi\u1ebfn \u0111\u1ed9ng gi\u00e1<\/td>Bi\u1ebfn \u0111\u1ed9ng cao h\u01a1n l\u00e0m t\u0103ng ph\u00ed quy\u1ec1n ch\u1ecdn<\/td><\/tr>
        L\u00e3i su\u1ea5t<\/td>L\u00e3i su\u1ea5t th\u1ecb tr\u01b0\u1eddng hi\u1ec7n h\u00e0nh<\/td>\u1ea2nh h\u01b0\u1edfng \u0111\u1ebfn chi ph\u00ed n\u1eafm gi\u1eef h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai<\/td><\/tr>
        C\u1ed5 t\u1ee9c<\/td>Thanh to\u00e1n ti\u1ec1n m\u1eb7t cho c\u1ed5 \u0111\u00f4ng<\/td>C\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn gi\u00e1 quy\u1ec1n ch\u1ecdn c\u1ed5 phi\u1ebfu<\/td><\/tr><\/tbody><\/table><\/div><\/div>

        Chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh<\/h3><\/div>

        C\u00e1c nh\u00e0 giao d\u1ecbch c\u00f3 th\u1ec3 s\u1eed d\u1ee5ng nhi\u1ec1u chi\u1ebfn l\u01b0\u1ee3c kh\u00e1c nhau khi giao d\u1ecbch Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh:<\/p><\/div>

        • Vi\u1ebft quy\u1ec1n ch\u1ecdn mua \u0111\u01b0\u1ee3c b\u1ea3o \u0111\u1ea3m<\/li>
        • Mua quy\u1ec1n ch\u1ecdn b\u00e1n b\u1ea3o v\u1ec7<\/li>
        • Straddle v\u00e0 strangle<\/li>
        • Spread (th\u1eb3ng \u0111\u1ee9ng, ngang, ch\u00e9o)<\/li>
        • Synthetic<\/li><\/ul><\/div>

          Vai tr\u00f2 c\u1ee7a Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh trong qu\u1ea3n l\u00fd danh m\u1ee5c \u0111\u1ea7u t\u01b0<\/h2><\/div>

          Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh c\u00f3 th\u1ec3 \u0111\u00f3ng vai tr\u00f2 quan tr\u1ecdng trong vi\u1ec7c qu\u1ea3n l\u00fd danh m\u1ee5c \u0111\u1ea7u t\u01b0:<\/p><\/div>

          • Gi\u1ea3m thi\u1ec3u r\u1ee7i ro<\/li>
          • T\u0103ng c\u01b0\u1eddng l\u1ee3i nhu\u1eadn<\/li>
          • Gi\u1ea3m chi ph\u00ed<\/li>
          • Qu\u1ea3n l\u00fd m\u1ee9c \u0111\u1ed9 ti\u1ebfp x\u00fac<\/li>
          • T\u00e1i c\u00e2n b\u1eb1ng danh m\u1ee5c \u0111\u1ea7u t\u01b0<\/li><\/ul><\/div>

            K\u1ebft h\u1ee3p ch\u1ee9ng kho\u00e1n ph\u00e1i sinh v\u00e0o danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 gi\u00fap qu\u1ea3n l\u00fd r\u1ee7i ro trong khi cung c\u1ea5p c\u01a1 h\u1ed9i t\u1ed1i \u01b0u h\u00f3a l\u1ee3i nhu\u1eadn. B\u1eb1ng c\u00e1ch k\u1ebft h\u1ee3p ch\u1ee9ng kho\u00e1n ph\u00e1i sinh v\u1edbi c\u00e1c c\u00f4ng c\u1ee5 t\u00e0i ch\u00ednh kh\u00e1c, c\u00e1c nh\u00e0 giao d\u1ecbch c\u00f3 th\u1ec3 t\u1ea1o ra m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 c\u00e2n b\u1eb1ng v\u00e0 linh ho\u1ea1t h\u01a1n, \u0111\u00e1p \u1ee9ng c\u00e1c m\u1ee5c ti\u00eau c\u1ee5 th\u1ec3 v\u00e0 \u0111i\u1ec1u ki\u1ec7n th\u1ecb tr\u01b0\u1eddng.<\/p><\/div>

            Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh v\u00e0 c\u00e1c ch\u1ec9 b\u00e1o th\u1ecb tr\u01b0\u1eddng<\/h3><\/div>

            Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh th\u01b0\u1eddng \u0111\u00f3ng vai tr\u00f2 l\u00e0 c\u00e1c ch\u1ec9 b\u00e1o th\u1ecb tr\u01b0\u1eddng quan tr\u1ecdng:<\/p><\/div>

            • VIX (Ch\u1ec9 s\u1ed1 bi\u1ebfn \u0111\u1ed9ng) nh\u01b0 m\u1ed9t th\u01b0\u1edbc \u0111o s\u1ef1 s\u1ee3 h\u00e3i c\u1ee7a th\u1ecb tr\u01b0\u1eddng<\/li>
            • T\u1ef7 l\u1ec7 Put\/Call ch\u1ec9 b\u00e1o t\u00e2m l\u00fd th\u1ecb tr\u01b0\u1eddng<\/li>
            • Open interest trong h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai ph\u1ea3n \u00e1nh s\u1ef1 tham gia c\u1ee7a th\u1ecb tr\u01b0\u1eddng<\/li>
            • Gi\u00e1 t\u01b0\u01a1ng lai cho h\u00e0ng h\u00f3a b\u00e1o hi\u1ec7u k\u1ef3 v\u1ecdng cung c\u1ea7u<\/li>
            • T\u01b0\u01a1ng lai ti\u1ec1n t\u1ec7 ch\u1ec9 b\u00e1o k\u1ef3 v\u1ecdng t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i<\/li><\/ul><\/div>

              M\u00f4i tr\u01b0\u1eddng ph\u00e1p l\u00fd cho Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh<\/h2><\/div>

              Th\u1ecb tr\u01b0\u1eddng Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh ho\u1ea1t \u0111\u1ed9ng theo nhi\u1ec1u khu\u00f4n kh\u1ed5 ph\u00e1p l\u00fd kh\u00e1c nhau:<\/p><\/div>

              • \u0110\u1ea1o lu\u1eadt Dodd-Frank t\u1ea1i Hoa K\u1ef3<\/li>
              • Quy \u0111\u1ecbnh v\u1ec1 c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng th\u1ecb tr\u01b0\u1eddng ch\u00e2u \u00c2u (EMIR) t\u1ea1i EU<\/li>
              • Ti\u00eau chu\u1ea9n c\u1ee7a Hi\u1ec7p h\u1ed9i Ho\u00e1n \u0111\u1ed5i v\u00e0 Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh Qu\u1ed1c t\u1ebf (ISDA)<\/li>
              • Y\u00eau c\u1ea7u v\u1ed1n Basel III \u0111\u1ed1i v\u1edbi ng\u00e2n h\u00e0ng<\/li>
              • Gi\u00e1m s\u00e1t c\u1ee7a \u1ee6y ban Giao d\u1ecbch H\u00e0ng h\u00f3a T\u01b0\u01a1ng lai (CFTC)<\/li><\/ul><\/div>

                C\u00e1c quy \u0111\u1ecbnh trong th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n ph\u00e1i sinh \u0111\u01b0\u1ee3c thi\u1ebft k\u1ebf \u0111\u1ec3 th\u00fac \u0111\u1ea9y s\u1ef1 \u1ed5n \u0111\u1ecbnh, minh b\u1ea1ch v\u00e0 b\u1ea3o v\u1ec7 ng\u01b0\u1eddi tham gia. Tu\u00e2n th\u1ee7 c\u00e1c khu\u00f4n kh\u1ed5 n\u00e0y \u0111\u1ea3m b\u1ea3o r\u1eb1ng m\u00f4i tr\u01b0\u1eddng giao d\u1ecbch v\u1eabn an to\u00e0n, gi\u00fap c\u00e1c nh\u00e0 giao d\u1ecbch t\u1eadp trung v\u00e0o vi\u1ec7c ph\u00e1t tri\u1ec3n chi\u1ebfn l\u01b0\u1ee3c v\u00e0 qu\u1ea3n l\u00fd r\u1ee7i ro hi\u1ec7u qu\u1ea3.<\/p><\/div>

                Ti\u1ebfn b\u1ed9 c\u00f4ng ngh\u1ec7 trong giao d\u1ecbch Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh<\/h2><\/div>

                B\u1ed1i c\u1ea3nh giao d\u1ecbch Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh \u0111\u00e3 \u0111\u01b0\u1ee3c chuy\u1ec3n \u0111\u1ed5i b\u1edfi c\u00f4ng ngh\u1ec7:<\/p><\/div>

                • Thu\u1eadt to\u00e1n giao d\u1ecbch t\u1ea7n su\u1ea5t cao<\/li>
                • Blockchain cho thanh to\u00e1n v\u00e0 thanh l\u00fd<\/li>
                • Tr\u00ed tu\u1ec7 nh\u00e2n t\u1ea1o cho qu\u1ea3n l\u00fd r\u1ee7i ro<\/li>
                • Ph\u00e2n t\u00edch d\u1eef li\u1ec7u l\u1edbn cho th\u00f4ng tin th\u1ecb tr\u01b0\u1eddng<\/li>
                • \u0110i\u1ec7n to\u00e1n \u0111\u00e1m m\u00e2y cho kh\u1ea3 n\u0103ng x\u1eed l\u00fd n\u00e2ng cao<\/li><\/ul><\/div>

                  K\u1ebft lu\u1eadn<\/h2><\/div>

                  Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh l\u00e0 c\u00f4ng c\u1ee5 thi\u1ebft y\u1ebfu trong th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh hi\u1ec7n \u0111\u1ea1i, cung c\u1ea5p c\u01a1 h\u1ed9i qu\u1ea3n l\u00fd r\u1ee7i ro, \u0111\u1ea7u c\u01a1 v\u00e0 t\u1ed1i \u01b0u h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0. C\u00e1c \u1ee9ng d\u1ee5ng \u0111a d\u1ea1ng v\u00e0 c\u1ea5u tr\u00fac \u0111\u1ed9c \u0111\u00e1o c\u1ee7a ch\u00fang l\u00e0m cho ch\u00fang c\u00f3 gi\u00e1 tr\u1ecb \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 giao d\u1ecbch v\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0, m\u1eb7c d\u00f9 vi\u1ec7c hi\u1ec3u r\u00f5 v\u1ec1 \u0111\u1ed9 ph\u1ee9c t\u1ea1p c\u1ee7a ch\u00fang l\u00e0 r\u1ea5t quan tr\u1ecdng.<\/p><\/div>

                  Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n ph\u00e1i sinh ti\u1ebfp t\u1ee5c ph\u00e1t tri\u1ec3n, \u0111\u01b0\u1ee3c th\u00fac \u0111\u1ea9y b\u1edfi ti\u1ebfn b\u1ed9 c\u00f4ng ngh\u1ec7, c\u1eadp nh\u1eadt quy \u0111\u1ecbnh v\u00e0 s\u1ef1 quan t\u00e2m ng\u00e0y c\u00e0ng t\u0103ng \u0111\u1ed1i v\u1edbi c\u00e1c s\u1ea3n ph\u1ea9m t\u00e0i ch\u00ednh li\u00ean quan \u0111\u1ebfn t\u00ednh b\u1ec1n v\u1eefng. Nh\u1eefng \u0111\u1ed5i m\u1edbi nh\u01b0 tr\u00ed tu\u1ec7 nh\u00e2n t\u1ea1o, blockchain v\u00e0 ph\u00e2n t\u00edch d\u1eef li\u1ec7u \u0111ang \u0111\u1ecbnh h\u00ecnh l\u1ea1i c\u00e1ch ti\u1ebfp c\u1eadn giao d\u1ecbch v\u00e0 qu\u1ea3n l\u00fd r\u1ee7i ro. \u0110\u1ed3ng th\u1eddi, c\u00e1c khu\u00f4n kh\u1ed5 quy \u0111\u1ecbnh m\u1edbi nh\u1eb1m c\u1ea3i thi\u1ec7n t\u00ednh minh b\u1ea1ch v\u00e0 \u1ed5n \u0111\u1ecbnh th\u1ecb tr\u01b0\u1eddng.<\/p><\/div>

                  \u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 giao d\u1ecbch, ch\u1ee9ng kho\u00e1n ph\u00e1i sinh cung c\u1ea5p c\u00e1c gi\u1ea3i ph\u00e1p linh ho\u1ea1t \u0111\u1ec3 gi\u1ea3i quy\u1ebft nhi\u1ec1u m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh kh\u00e1c nhau - cho d\u00f9 \u0111\u00f3 l\u00e0 ph\u00f2ng ng\u1eeba r\u1ee7i ro, t\u0103ng c\u01b0\u1eddng l\u1ee3i nhu\u1eadn hay ti\u1ebfp c\u1eadn c\u00e1c xu h\u01b0\u1edbng th\u1ecb tr\u01b0\u1eddng. Th\u00e0nh c\u00f4ng trong giao d\u1ecbch ch\u1ee9ng kho\u00e1n ph\u00e1i sinh \u0111\u00f2i h\u1ecfi vi\u1ec7c h\u1ecdc t\u1eadp li\u00ean t\u1ee5c v\u00e0 hi\u1ec3u bi\u1ebft s\u00e2u s\u1eafc v\u1ec1 c\u00e1c y\u1ebfu t\u1ed1 kinh t\u1ebf v\u00e0 \u0111\u1ed9ng l\u1ef1c th\u1ecb tr\u01b0\u1eddng.<\/p><\/div>

                  B\u1eb1ng c\u00e1ch t\u1eadn d\u1ee5ng c\u00e1c c\u00f4ng c\u1ee5 \u0111\u00e1ng tin c\u1eady, c\u1eadp nh\u1eadt th\u00f4ng tin v\u1ec1 di\u1ec5n bi\u1ebfn th\u1ecb tr\u01b0\u1eddng v\u00e0 tinh ch\u1ec9nh chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a m\u00ecnh, c\u00e1c nh\u00e0 giao d\u1ecbch c\u00f3 th\u1ec3 \u0111i\u1ec1u h\u01b0\u1edbng hi\u1ec7u qu\u1ea3 trong l\u0129nh v\u1ef1c n\u0103ng \u0111\u1ed9ng n\u00e0y c\u1ee7a h\u1ec7 th\u1ed1ng t\u00e0i ch\u00ednh.<\/p><\/div>","body_html_source":{"label":"Body HTML","type":"wysiwyg","formatted_value":"

                  \n

                  Hi\u1ec3u v\u1ec1 Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh<\/h2>\n<\/div>\n
                  \n

                  Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh l\u00e0 c\u00e1c h\u1ee3p \u0111\u1ed3ng t\u00e0i ch\u00ednh c\u00f3 gi\u00e1 tr\u1ecb ph\u1ee5 thu\u1ed9c v\u00e0o hi\u1ec7u su\u1ea5t c\u1ee7a m\u1ed9t t\u00e0i s\u1ea3n c\u01a1 s\u1edf, nh\u01b0 c\u1ed5 phi\u1ebfu, h\u00e0ng h\u00f3a, ti\u1ec1n t\u1ec7 ho\u1eb7c ch\u1ec9 s\u1ed1. Nh\u1eefng c\u00f4ng c\u1ee5 n\u00e0y \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng r\u1ed9ng r\u00e3i trong th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh \u0111\u1ec3 qu\u1ea3n l\u00fd r\u1ee7i ro, ph\u00e1t tri\u1ec3n chi\u1ebfn l\u01b0\u1ee3c v\u00e0 ph\u1ea3n \u1ee9ng v\u1edbi bi\u1ebfn \u0111\u1ed9ng gi\u00e1.<\/p>\n<\/div>\n

                  \n

                  C\u00f3 m\u1ed9t s\u1ed1 lo\u1ea1i ch\u1ee9ng kho\u00e1n ph\u00e1i sinh, m\u1ed7i lo\u1ea1i \u0111\u01b0\u1ee3c thi\u1ebft k\u1ebf cho c\u00e1c m\u1ee5c ti\u00eau c\u1ee5 th\u1ec3:<\/p>\n<\/div>\n

                  \n
                    \n
                  • H\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai<\/li>\n
                  • H\u1ee3p \u0111\u1ed3ng k\u1ef3 h\u1ea1n<\/li>\n
                  • Quy\u1ec1n ch\u1ecdn<\/li>\n
                  • Ho\u00e1n \u0111\u1ed5i<\/li>\n<\/ul>\n<\/div>\n
                    \n

                    M\u1ed7i lo\u1ea1i ch\u1ee9ng kho\u00e1n ph\u00e1i sinh c\u00f3 \u0111\u1eb7c \u0111i\u1ec3m v\u00e0 c\u00f4ng d\u1ee5ng ri\u00eang, ph\u1ee5c v\u1ee5 cho c\u00e1c m\u1ee5c ti\u00eau giao d\u1ecbch v\u00e0 h\u1ed3 s\u01a1 r\u1ee7i ro kh\u00e1c nhau.<\/p>\n<\/div>\n

                    \n

                    C\u00e1c lo\u1ea1i ch\u1ee9ng kho\u00e1n ph\u00e1i sinh ch\u00ednh<\/p>\n<\/div>\n

                    \n
                    \n\n\n\n\n\n\n\n\n
                    Lo\u1ea1i<\/th>\nM\u00f4 t\u1ea3<\/th>\n\u0110\u1eb7c \u0111i\u1ec3m ch\u00ednh<\/th>\n<\/tr>\n<\/thead>\n
                    T\u01b0\u01a1ng lai<\/td>\nH\u1ee3p \u0111\u1ed3ng chu\u1ea9n h\u00f3a \u0111\u1ec3 mua\/b\u00e1n v\u00e0o m\u1ed9t ng\u00e0y trong t\u01b0\u01a1ng lai<\/td>\n\u0110\u01b0\u1ee3c giao d\u1ecbch tr\u00ean s\u00e0n, t\u00ednh thanh kho\u1ea3n cao<\/td>\n<\/tr>\n
                    K\u1ef3 h\u1ea1n<\/td>\nH\u1ee3p \u0111\u1ed3ng t\u00f9y ch\u1ec9nh \u0111\u1ec3 mua\/b\u00e1n v\u00e0o m\u1ed9t ng\u00e0y trong t\u01b0\u01a1ng lai<\/td>\nGiao d\u1ecbch OTC, t\u00ednh thanh kho\u1ea3n th\u1ea5p h\u01a1n<\/td>\n<\/tr>\n
                    Quy\u1ec1n ch\u1ecdn<\/td>\nQuy\u1ec1n (kh\u00f4ng ph\u1ea3i ngh\u0129a v\u1ee5) mua\/b\u00e1n \u1edf m\u1ee9c gi\u00e1 \u0111\u1ecbnh s\u1eb5n<\/td>\nCung c\u1ea5p t\u00ednh linh ho\u1ea1t, gi\u1edbi h\u1ea1n r\u1ee7i ro gi\u1ea3m gi\u00e1<\/td>\n<\/tr>\n
                    Ho\u00e1n \u0111\u1ed5i<\/td>\nTh\u1ecfa thu\u1eadn trao \u0111\u1ed5i d\u00f2ng ti\u1ec1n<\/td>\nTh\u01b0\u1eddng \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 ph\u00f2ng ng\u1eeba r\u1ee7i ro l\u00e3i su\u1ea5t ho\u1eb7c ti\u1ec1n t\u1ec7<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n
                    \n

                    Vai tr\u00f2 c\u1ee7a Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh trong th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh<\/h3>\n<\/div>\n
                    \n

                    Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh ph\u1ee5c v\u1ee5 m\u1ed9t s\u1ed1 ch\u1ee9c n\u0103ng quan tr\u1ecdng trong h\u1ec7 sinh th\u00e1i t\u00e0i ch\u00ednh:<\/p>\n<\/div>\n

                    \n
                      \n
                    • Qu\u1ea3n l\u00fd r\u1ee7i ro v\u00e0 ph\u00f2ng ng\u1eeba<\/li>\n
                    • Kh\u00e1m ph\u00e1 gi\u00e1<\/li>\n
                    • Hi\u1ec7u qu\u1ea3 th\u1ecb tr\u01b0\u1eddng<\/li>\n
                    • \u0110\u1ea7u c\u01a1<\/li>\n
                    • C\u01a1 h\u1ed9i arbitrage<\/li>\n<\/ul>\n<\/div>\n
                      \n

                      Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh n\u00e2ng cao s\u1ef1 \u1ed5n \u0111\u1ecbnh v\u00e0 thanh kho\u1ea3n c\u1ee7a th\u1ecb tr\u01b0\u1eddng b\u1eb1ng c\u00e1ch h\u1ed7 tr\u1ee3 qu\u1ea3n l\u00fd r\u1ee7i ro, \u0111\u1ea7u c\u01a1 v\u00e0 kh\u00e1m ph\u00e1 gi\u00e1. C\u00e1c nh\u00e0 giao d\u1ecbch c\u00f3 th\u1ec3 t\u1eadn d\u1ee5ng nh\u1eefng c\u00f4ng c\u1ee5 n\u00e0y \u0111\u1ec3 qu\u1ea3n l\u00fd r\u1ee7i ro, \u0111a d\u1ea1ng h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0 ho\u1eb7c nh\u1eafm v\u00e0o c\u00e1c xu h\u01b0\u1edbng th\u1ecb tr\u01b0\u1eddng c\u1ee5 th\u1ec3, s\u1eed d\u1ee5ng c\u00e1c chi\u1ebfn l\u01b0\u1ee3c ph\u00f9 h\u1ee3p v\u1edbi m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh c\u1ee7a h\u1ecd.<\/p>\n<\/div>\n

                      \n

                      C\u00e1c y\u1ebfu t\u1ed1 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn gi\u00e1 Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh<\/h2>\n<\/div>\n
                      \n

                      M\u1ed9t s\u1ed1 y\u1ebfu t\u1ed1 c\u00f3 th\u1ec3 t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn gi\u00e1 c\u1ee7a Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh:<\/p>\n<\/div>\n

                      \n
                        \n
                      • Gi\u00e1 c\u1ee7a t\u00e0i s\u1ea3n c\u01a1 s\u1edf<\/li>\n
                      • Th\u1eddi gian \u0111\u1ebfn khi \u0111\u00e1o h\u1ea1n<\/li>\n
                      • Bi\u1ebfn \u0111\u1ed9ng<\/li>\n
                      • L\u00e3i su\u1ea5t<\/li>\n
                      • C\u1ed5 t\u1ee9c (\u0111\u1ed1i v\u1edbi ch\u1ee9ng kho\u00e1n ph\u00e1i sinh c\u1ed5 phi\u1ebfu)<\/li>\n<\/ul>\n<\/div>\n
                        \n

                        Hi\u1ec3u v\u1ec1 nh\u1eefng y\u1ebfu t\u1ed1 n\u00e0y l\u00e0 ch\u00eca kh\u00f3a \u0111\u1ec3 d\u1ef1 \u0111o\u00e1n bi\u1ebfn \u0111\u1ed9ng gi\u00e1 trong giao d\u1ecbch ch\u1ee9ng kho\u00e1n ph\u00e1i sinh. Theo d\u00f5i c\u00e1c y\u1ebfu t\u1ed1 nh\u01b0 gi\u00e1 t\u00e0i s\u1ea3n, bi\u1ebfn \u0111\u1ed9ng v\u00e0 th\u1eddi gian \u0111\u00e1o h\u1ea1n gi\u00fap tinh ch\u1ec9nh chi\u1ebfn l\u01b0\u1ee3c v\u00e0 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh s\u00e1ng su\u1ed1t.<\/p>\n<\/div>\n

                        \n

                        C\u00e1c y\u1ebfu t\u1ed1 ch\u00ednh \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn gi\u00e1 Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh<\/p>\n<\/div>\n

                        \n
                        \n\n\n\n\n\n\n\n\n\n
                        Y\u1ebfu t\u1ed1<\/th>\nM\u00f4 t\u1ea3<\/th>\nV\u00ed d\u1ee5 v\u1ec1 t\u00e1c \u0111\u1ed9ng<\/th>\n<\/tr>\n<\/thead>\n
                        Gi\u00e1 t\u00e0i s\u1ea3n c\u01a1 s\u1edf<\/td>\nGi\u00e1 th\u1ecb tr\u01b0\u1eddng hi\u1ec7n t\u1ea1i c\u1ee7a t\u00e0i s\u1ea3n<\/td>\n\u1ea2nh h\u01b0\u1edfng tr\u1ef1c ti\u1ebfp \u0111\u1ebfn ph\u00ed quy\u1ec1n ch\u1ecdn<\/td>\n<\/tr>\n
                        Th\u1eddi gian \u0111\u1ebfn khi \u0111\u00e1o h\u1ea1n<\/td>\nTh\u1eddi gian c\u00f2n l\u1ea1i cho \u0111\u1ebfn khi h\u1ee3p \u0111\u1ed3ng h\u1ebft h\u1ea1n<\/td>\nS\u1ef1 suy gi\u1ea3m theo th\u1eddi gian \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn gi\u00e1 tr\u1ecb quy\u1ec1n ch\u1ecdn<\/td>\n<\/tr>\n
                        Bi\u1ebfn \u0111\u1ed9ng<\/td>\n\u0110o l\u01b0\u1eddng s\u1ef1 bi\u1ebfn \u0111\u1ed9ng gi\u00e1<\/td>\nBi\u1ebfn \u0111\u1ed9ng cao h\u01a1n l\u00e0m t\u0103ng ph\u00ed quy\u1ec1n ch\u1ecdn<\/td>\n<\/tr>\n
                        L\u00e3i su\u1ea5t<\/td>\nL\u00e3i su\u1ea5t th\u1ecb tr\u01b0\u1eddng hi\u1ec7n h\u00e0nh<\/td>\n\u1ea2nh h\u01b0\u1edfng \u0111\u1ebfn chi ph\u00ed n\u1eafm gi\u1eef h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai<\/td>\n<\/tr>\n
                        C\u1ed5 t\u1ee9c<\/td>\nThanh to\u00e1n ti\u1ec1n m\u1eb7t cho c\u1ed5 \u0111\u00f4ng<\/td>\nC\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn gi\u00e1 quy\u1ec1n ch\u1ecdn c\u1ed5 phi\u1ebfu<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n
                        \n

                        Chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh<\/h3>\n<\/div>\n
                        \n

                        C\u00e1c nh\u00e0 giao d\u1ecbch c\u00f3 th\u1ec3 s\u1eed d\u1ee5ng nhi\u1ec1u chi\u1ebfn l\u01b0\u1ee3c kh\u00e1c nhau khi giao d\u1ecbch Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh:<\/p>\n<\/div>\n

                        \n
                          \n
                        • Vi\u1ebft quy\u1ec1n ch\u1ecdn mua \u0111\u01b0\u1ee3c b\u1ea3o \u0111\u1ea3m<\/li>\n
                        • Mua quy\u1ec1n ch\u1ecdn b\u00e1n b\u1ea3o v\u1ec7<\/li>\n
                        • Straddle v\u00e0 strangle<\/li>\n
                        • Spread (th\u1eb3ng \u0111\u1ee9ng, ngang, ch\u00e9o)<\/li>\n
                        • Synthetic<\/li>\n<\/ul>\n<\/div>\n
                          \n

                          Vai tr\u00f2 c\u1ee7a Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh trong qu\u1ea3n l\u00fd danh m\u1ee5c \u0111\u1ea7u t\u01b0<\/h2>\n<\/div>\n
                          \n

                          Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh c\u00f3 th\u1ec3 \u0111\u00f3ng vai tr\u00f2 quan tr\u1ecdng trong vi\u1ec7c qu\u1ea3n l\u00fd danh m\u1ee5c \u0111\u1ea7u t\u01b0:<\/p>\n<\/div>\n

                          \n
                            \n
                          • Gi\u1ea3m thi\u1ec3u r\u1ee7i ro<\/li>\n
                          • T\u0103ng c\u01b0\u1eddng l\u1ee3i nhu\u1eadn<\/li>\n
                          • Gi\u1ea3m chi ph\u00ed<\/li>\n
                          • Qu\u1ea3n l\u00fd m\u1ee9c \u0111\u1ed9 ti\u1ebfp x\u00fac<\/li>\n
                          • T\u00e1i c\u00e2n b\u1eb1ng danh m\u1ee5c \u0111\u1ea7u t\u01b0<\/li>\n<\/ul>\n<\/div>\n
                            \n

                            K\u1ebft h\u1ee3p ch\u1ee9ng kho\u00e1n ph\u00e1i sinh v\u00e0o danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 gi\u00fap qu\u1ea3n l\u00fd r\u1ee7i ro trong khi cung c\u1ea5p c\u01a1 h\u1ed9i t\u1ed1i \u01b0u h\u00f3a l\u1ee3i nhu\u1eadn. B\u1eb1ng c\u00e1ch k\u1ebft h\u1ee3p ch\u1ee9ng kho\u00e1n ph\u00e1i sinh v\u1edbi c\u00e1c c\u00f4ng c\u1ee5 t\u00e0i ch\u00ednh kh\u00e1c, c\u00e1c nh\u00e0 giao d\u1ecbch c\u00f3 th\u1ec3 t\u1ea1o ra m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 c\u00e2n b\u1eb1ng v\u00e0 linh ho\u1ea1t h\u01a1n, \u0111\u00e1p \u1ee9ng c\u00e1c m\u1ee5c ti\u00eau c\u1ee5 th\u1ec3 v\u00e0 \u0111i\u1ec1u ki\u1ec7n th\u1ecb tr\u01b0\u1eddng.<\/p>\n<\/div>\n

                            \n

                            Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh v\u00e0 c\u00e1c ch\u1ec9 b\u00e1o th\u1ecb tr\u01b0\u1eddng<\/h3>\n<\/div>\n
                            \n

                            Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh th\u01b0\u1eddng \u0111\u00f3ng vai tr\u00f2 l\u00e0 c\u00e1c ch\u1ec9 b\u00e1o th\u1ecb tr\u01b0\u1eddng quan tr\u1ecdng:<\/p>\n<\/div>\n

                            \n
                              \n
                            • VIX (Ch\u1ec9 s\u1ed1 bi\u1ebfn \u0111\u1ed9ng) nh\u01b0 m\u1ed9t th\u01b0\u1edbc \u0111o s\u1ef1 s\u1ee3 h\u00e3i c\u1ee7a th\u1ecb tr\u01b0\u1eddng<\/li>\n
                            • T\u1ef7 l\u1ec7 Put\/Call ch\u1ec9 b\u00e1o t\u00e2m l\u00fd th\u1ecb tr\u01b0\u1eddng<\/li>\n
                            • Open interest trong h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai ph\u1ea3n \u00e1nh s\u1ef1 tham gia c\u1ee7a th\u1ecb tr\u01b0\u1eddng<\/li>\n
                            • Gi\u00e1 t\u01b0\u01a1ng lai cho h\u00e0ng h\u00f3a b\u00e1o hi\u1ec7u k\u1ef3 v\u1ecdng cung c\u1ea7u<\/li>\n
                            • T\u01b0\u01a1ng lai ti\u1ec1n t\u1ec7 ch\u1ec9 b\u00e1o k\u1ef3 v\u1ecdng t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i<\/li>\n<\/ul>\n<\/div>\n
                              \n

                              M\u00f4i tr\u01b0\u1eddng ph\u00e1p l\u00fd cho Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh<\/h2>\n<\/div>\n
                              \n

                              Th\u1ecb tr\u01b0\u1eddng Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh ho\u1ea1t \u0111\u1ed9ng theo nhi\u1ec1u khu\u00f4n kh\u1ed5 ph\u00e1p l\u00fd kh\u00e1c nhau:<\/p>\n<\/div>\n

                              \n
                                \n
                              • \u0110\u1ea1o lu\u1eadt Dodd-Frank t\u1ea1i Hoa K\u1ef3<\/li>\n
                              • Quy \u0111\u1ecbnh v\u1ec1 c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng th\u1ecb tr\u01b0\u1eddng ch\u00e2u \u00c2u (EMIR) t\u1ea1i EU<\/li>\n
                              • Ti\u00eau chu\u1ea9n c\u1ee7a Hi\u1ec7p h\u1ed9i Ho\u00e1n \u0111\u1ed5i v\u00e0 Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh Qu\u1ed1c t\u1ebf (ISDA)<\/li>\n
                              • Y\u00eau c\u1ea7u v\u1ed1n Basel III \u0111\u1ed1i v\u1edbi ng\u00e2n h\u00e0ng<\/li>\n
                              • Gi\u00e1m s\u00e1t c\u1ee7a \u1ee6y ban Giao d\u1ecbch H\u00e0ng h\u00f3a T\u01b0\u01a1ng lai (CFTC)<\/li>\n<\/ul>\n<\/div>\n
                                \n

                                C\u00e1c quy \u0111\u1ecbnh trong th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n ph\u00e1i sinh \u0111\u01b0\u1ee3c thi\u1ebft k\u1ebf \u0111\u1ec3 th\u00fac \u0111\u1ea9y s\u1ef1 \u1ed5n \u0111\u1ecbnh, minh b\u1ea1ch v\u00e0 b\u1ea3o v\u1ec7 ng\u01b0\u1eddi tham gia. Tu\u00e2n th\u1ee7 c\u00e1c khu\u00f4n kh\u1ed5 n\u00e0y \u0111\u1ea3m b\u1ea3o r\u1eb1ng m\u00f4i tr\u01b0\u1eddng giao d\u1ecbch v\u1eabn an to\u00e0n, gi\u00fap c\u00e1c nh\u00e0 giao d\u1ecbch t\u1eadp trung v\u00e0o vi\u1ec7c ph\u00e1t tri\u1ec3n chi\u1ebfn l\u01b0\u1ee3c v\u00e0 qu\u1ea3n l\u00fd r\u1ee7i ro hi\u1ec7u qu\u1ea3.<\/p>\n<\/div>\n

                                \n

                                Ti\u1ebfn b\u1ed9 c\u00f4ng ngh\u1ec7 trong giao d\u1ecbch Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh<\/h2>\n<\/div>\n
                                \n

                                B\u1ed1i c\u1ea3nh giao d\u1ecbch Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh \u0111\u00e3 \u0111\u01b0\u1ee3c chuy\u1ec3n \u0111\u1ed5i b\u1edfi c\u00f4ng ngh\u1ec7:<\/p>\n<\/div>\n

                                \n
                                  \n
                                • Thu\u1eadt to\u00e1n giao d\u1ecbch t\u1ea7n su\u1ea5t cao<\/li>\n
                                • Blockchain cho thanh to\u00e1n v\u00e0 thanh l\u00fd<\/li>\n
                                • Tr\u00ed tu\u1ec7 nh\u00e2n t\u1ea1o cho qu\u1ea3n l\u00fd r\u1ee7i ro<\/li>\n
                                • Ph\u00e2n t\u00edch d\u1eef li\u1ec7u l\u1edbn cho th\u00f4ng tin th\u1ecb tr\u01b0\u1eddng<\/li>\n
                                • \u0110i\u1ec7n to\u00e1n \u0111\u00e1m m\u00e2y cho kh\u1ea3 n\u0103ng x\u1eed l\u00fd n\u00e2ng cao<\/li>\n<\/ul>\n<\/div>\n
                                  \n

                                  K\u1ebft lu\u1eadn<\/h2>\n<\/div>\n
                                  \n

                                  Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh l\u00e0 c\u00f4ng c\u1ee5 thi\u1ebft y\u1ebfu trong th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh hi\u1ec7n \u0111\u1ea1i, cung c\u1ea5p c\u01a1 h\u1ed9i qu\u1ea3n l\u00fd r\u1ee7i ro, \u0111\u1ea7u c\u01a1 v\u00e0 t\u1ed1i \u01b0u h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0. C\u00e1c \u1ee9ng d\u1ee5ng \u0111a d\u1ea1ng v\u00e0 c\u1ea5u tr\u00fac \u0111\u1ed9c \u0111\u00e1o c\u1ee7a ch\u00fang l\u00e0m cho ch\u00fang c\u00f3 gi\u00e1 tr\u1ecb \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 giao d\u1ecbch v\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0, m\u1eb7c d\u00f9 vi\u1ec7c hi\u1ec3u r\u00f5 v\u1ec1 \u0111\u1ed9 ph\u1ee9c t\u1ea1p c\u1ee7a ch\u00fang l\u00e0 r\u1ea5t quan tr\u1ecdng.<\/p>\n<\/div>\n

                                  \n

                                  Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n ph\u00e1i sinh ti\u1ebfp t\u1ee5c ph\u00e1t tri\u1ec3n, \u0111\u01b0\u1ee3c th\u00fac \u0111\u1ea9y b\u1edfi ti\u1ebfn b\u1ed9 c\u00f4ng ngh\u1ec7, c\u1eadp nh\u1eadt quy \u0111\u1ecbnh v\u00e0 s\u1ef1 quan t\u00e2m ng\u00e0y c\u00e0ng t\u0103ng \u0111\u1ed1i v\u1edbi c\u00e1c s\u1ea3n ph\u1ea9m t\u00e0i ch\u00ednh li\u00ean quan \u0111\u1ebfn t\u00ednh b\u1ec1n v\u1eefng. Nh\u1eefng \u0111\u1ed5i m\u1edbi nh\u01b0 tr\u00ed tu\u1ec7 nh\u00e2n t\u1ea1o, blockchain v\u00e0 ph\u00e2n t\u00edch d\u1eef li\u1ec7u \u0111ang \u0111\u1ecbnh h\u00ecnh l\u1ea1i c\u00e1ch ti\u1ebfp c\u1eadn giao d\u1ecbch v\u00e0 qu\u1ea3n l\u00fd r\u1ee7i ro. \u0110\u1ed3ng th\u1eddi, c\u00e1c khu\u00f4n kh\u1ed5 quy \u0111\u1ecbnh m\u1edbi nh\u1eb1m c\u1ea3i thi\u1ec7n t\u00ednh minh b\u1ea1ch v\u00e0 \u1ed5n \u0111\u1ecbnh th\u1ecb tr\u01b0\u1eddng.<\/p>\n<\/div>\n

                                  \n

                                  \u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 giao d\u1ecbch, ch\u1ee9ng kho\u00e1n ph\u00e1i sinh cung c\u1ea5p c\u00e1c gi\u1ea3i ph\u00e1p linh ho\u1ea1t \u0111\u1ec3 gi\u1ea3i quy\u1ebft nhi\u1ec1u m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh kh\u00e1c nhau – cho d\u00f9 \u0111\u00f3 l\u00e0 ph\u00f2ng ng\u1eeba r\u1ee7i ro, t\u0103ng c\u01b0\u1eddng l\u1ee3i nhu\u1eadn hay ti\u1ebfp c\u1eadn c\u00e1c xu h\u01b0\u1edbng th\u1ecb tr\u01b0\u1eddng. Th\u00e0nh c\u00f4ng trong giao d\u1ecbch ch\u1ee9ng kho\u00e1n ph\u00e1i sinh \u0111\u00f2i h\u1ecfi vi\u1ec7c h\u1ecdc t\u1eadp li\u00ean t\u1ee5c v\u00e0 hi\u1ec3u bi\u1ebft s\u00e2u s\u1eafc v\u1ec1 c\u00e1c y\u1ebfu t\u1ed1 kinh t\u1ebf v\u00e0 \u0111\u1ed9ng l\u1ef1c th\u1ecb tr\u01b0\u1eddng.<\/p>\n<\/div>\n

                                  \n

                                  B\u1eb1ng c\u00e1ch t\u1eadn d\u1ee5ng c\u00e1c c\u00f4ng c\u1ee5 \u0111\u00e1ng tin c\u1eady, c\u1eadp nh\u1eadt th\u00f4ng tin v\u1ec1 di\u1ec5n bi\u1ebfn th\u1ecb tr\u01b0\u1eddng v\u00e0 tinh ch\u1ec9nh chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a m\u00ecnh, c\u00e1c nh\u00e0 giao d\u1ecbch c\u00f3 th\u1ec3 \u0111i\u1ec1u h\u01b0\u1edbng hi\u1ec7u qu\u1ea3 trong l\u0129nh v\u1ef1c n\u0103ng \u0111\u1ed9ng n\u00e0y c\u1ee7a h\u1ec7 th\u1ed1ng t\u00e0i ch\u00ednh.<\/p>\n<\/div>\n"},"faq":[{"question":"Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh kh\u00e1c v\u1edbi c\u00e1c c\u00f4ng c\u1ee5 t\u00e0i ch\u00ednh truy\u1ec1n th\u1ed1ng nh\u01b0 th\u1ebf n\u00e0o?","answer":"Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh c\u00f3 gi\u00e1 tr\u1ecb ph\u1ee5 thu\u1ed9c v\u00e0o m\u1ed9t t\u00e0i s\u1ea3n c\u01a1 s\u1edf, nh\u01b0 c\u1ed5 phi\u1ebfu, h\u00e0ng h\u00f3a ho\u1eb7c ti\u1ec1n t\u1ec7, trong khi c\u00e1c c\u00f4ng c\u1ee5 truy\u1ec1n th\u1ed1ng, nh\u01b0 c\u1ed5 phi\u1ebfu ho\u1eb7c tr\u00e1i phi\u1ebfu, li\u00ean quan \u0111\u1ebfn quy\u1ec1n s\u1edf h\u1eefu tr\u1ef1c ti\u1ebfp ho\u1eb7c ngh\u0129a v\u1ee5 n\u1ee3."},{"question":"Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh c\u00f3 ph\u00f9 h\u1ee3p v\u1edbi c\u00e1c nh\u00e0 giao d\u1ecbch m\u1edbi b\u1eaft \u0111\u1ea7u kh\u00f4ng?","answer":"M\u1eb7c d\u00f9 ch\u1ee9ng kho\u00e1n ph\u00e1i sinh c\u00f3 th\u1ec3 ph\u1ee9c t\u1ea1p, ch\u00fang c\u00f3 th\u1ec3 ti\u1ebfp c\u1eadn \u0111\u01b0\u1ee3c v\u1edbi ng\u01b0\u1eddi m\u1edbi b\u1eaft \u0111\u1ea7u n\u1ebfu h\u1ecd \u01b0u ti\u00ean gi\u00e1o d\u1ee5c v\u00e0 qu\u1ea3n l\u00fd r\u1ee7i ro. B\u1eaft \u0111\u1ea7u v\u1edbi s\u1ef1 hi\u1ec3u bi\u1ebft r\u00f5 r\u00e0ng v\u1ec1 c\u00e1c kh\u00e1i ni\u1ec7m c\u01a1 b\u1ea3n l\u00e0 \u0111i\u1ec1u c\u1ea7n thi\u1ebft."},{"question":"C\u00e1c s\u1ef1 ki\u1ec7n to\u00e0n c\u1ea7u \u1ea3nh h\u01b0\u1edfng nh\u01b0 th\u1ebf n\u00e0o \u0111\u1ebfn gi\u00e1 ch\u1ee9ng kho\u00e1n ph\u00e1i sinh?","answer":"C\u00e1c s\u1ef1 ki\u1ec7n to\u00e0n c\u1ea7u c\u00f3 th\u1ec3 t\u00e1c \u0111\u1ed9ng \u0111\u00e1ng k\u1ec3 \u0111\u1ebfn ch\u1ee9ng kho\u00e1n ph\u00e1i sinh b\u1eb1ng c\u00e1ch \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn gi\u00e1 tr\u1ecb c\u1ee7a t\u00e0i s\u1ea3n c\u01a1 s\u1edf, bi\u1ebfn \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng ho\u1eb7c l\u00e3i su\u1ea5t. Vi\u1ec7c c\u1eadp nh\u1eadt th\u00f4ng tin v\u1ec1 c\u00e1c xu h\u01b0\u1edbng kinh t\u1ebf gi\u00fap d\u1ef1 \u0111o\u00e1n nh\u1eefng thay \u0111\u1ed5i n\u00e0y."},{"question":"Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh \u0111\u00f3ng vai tr\u00f2 g\u00ec trong qu\u1ea3n l\u00fd r\u1ee7i ro?","answer":"Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng r\u1ed9ng r\u00e3i \u0111\u1ec3 ph\u00f2ng ng\u1eeba r\u1ee7i ro, cho ph\u00e9p doanh nghi\u1ec7p v\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 b\u00f9 \u0111\u1eafp r\u1ee7i ro v\u00e0 b\u1ea3o v\u1ec7 kh\u1ecfi c\u00e1c kho\u1ea3n l\u1ed7 ti\u1ec1m \u1ea9n trong danh m\u1ee5c \u0111\u1ea7u t\u01b0 ho\u1eb7c ho\u1ea1t \u0111\u1ed9ng kinh doanh c\u1ee7a h\u1ecd."},{"question":"C\u00e1c nh\u00e0 giao d\u1ecbch c\u00f3 th\u1ec3 th\u00e0nh c\u00f4ng trong th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n ph\u00e1i sinh nh\u01b0 th\u1ebf n\u00e0o?","answer":"Th\u00e0nh c\u00f4ng \u0111\u1ebfn t\u1eeb vi\u1ec7c h\u1ecdc h\u1ecfi li\u00ean t\u1ee5c, hi\u1ec3u r\u00f5 \u0111\u1ed9ng l\u1ef1c th\u1ecb tr\u01b0\u1eddng v\u00e0 s\u1eed d\u1ee5ng c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u01b0\u1ee3c ph\u00e1t tri\u1ec3n t\u1ed1t ph\u00f9 h\u1ee3p v\u1edbi m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh v\u00e0 kh\u1ea3 n\u0103ng ch\u1ecbu \u0111\u1ef1ng r\u1ee7i ro c\u1ee7a t\u1eebng c\u00e1 nh\u00e2n."}],"faq_source":{"label":"FAQ","type":"repeater","formatted_value":[{"question":"Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh kh\u00e1c v\u1edbi c\u00e1c c\u00f4ng c\u1ee5 t\u00e0i ch\u00ednh truy\u1ec1n th\u1ed1ng nh\u01b0 th\u1ebf n\u00e0o?","answer":"Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh c\u00f3 gi\u00e1 tr\u1ecb ph\u1ee5 thu\u1ed9c v\u00e0o m\u1ed9t t\u00e0i s\u1ea3n c\u01a1 s\u1edf, nh\u01b0 c\u1ed5 phi\u1ebfu, h\u00e0ng h\u00f3a ho\u1eb7c ti\u1ec1n t\u1ec7, trong khi c\u00e1c c\u00f4ng c\u1ee5 truy\u1ec1n th\u1ed1ng, nh\u01b0 c\u1ed5 phi\u1ebfu ho\u1eb7c tr\u00e1i phi\u1ebfu, li\u00ean quan \u0111\u1ebfn quy\u1ec1n s\u1edf h\u1eefu tr\u1ef1c ti\u1ebfp ho\u1eb7c ngh\u0129a v\u1ee5 n\u1ee3."},{"question":"Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh c\u00f3 ph\u00f9 h\u1ee3p v\u1edbi c\u00e1c nh\u00e0 giao d\u1ecbch m\u1edbi b\u1eaft \u0111\u1ea7u kh\u00f4ng?","answer":"M\u1eb7c d\u00f9 ch\u1ee9ng kho\u00e1n ph\u00e1i sinh c\u00f3 th\u1ec3 ph\u1ee9c t\u1ea1p, ch\u00fang c\u00f3 th\u1ec3 ti\u1ebfp c\u1eadn \u0111\u01b0\u1ee3c v\u1edbi ng\u01b0\u1eddi m\u1edbi b\u1eaft \u0111\u1ea7u n\u1ebfu h\u1ecd \u01b0u ti\u00ean gi\u00e1o d\u1ee5c v\u00e0 qu\u1ea3n l\u00fd r\u1ee7i ro. B\u1eaft \u0111\u1ea7u v\u1edbi s\u1ef1 hi\u1ec3u bi\u1ebft r\u00f5 r\u00e0ng v\u1ec1 c\u00e1c kh\u00e1i ni\u1ec7m c\u01a1 b\u1ea3n l\u00e0 \u0111i\u1ec1u c\u1ea7n thi\u1ebft."},{"question":"C\u00e1c s\u1ef1 ki\u1ec7n to\u00e0n c\u1ea7u \u1ea3nh h\u01b0\u1edfng nh\u01b0 th\u1ebf n\u00e0o \u0111\u1ebfn gi\u00e1 ch\u1ee9ng kho\u00e1n ph\u00e1i sinh?","answer":"C\u00e1c s\u1ef1 ki\u1ec7n to\u00e0n c\u1ea7u c\u00f3 th\u1ec3 t\u00e1c \u0111\u1ed9ng \u0111\u00e1ng k\u1ec3 \u0111\u1ebfn ch\u1ee9ng kho\u00e1n ph\u00e1i sinh b\u1eb1ng c\u00e1ch \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn gi\u00e1 tr\u1ecb c\u1ee7a t\u00e0i s\u1ea3n c\u01a1 s\u1edf, bi\u1ebfn \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng ho\u1eb7c l\u00e3i su\u1ea5t. Vi\u1ec7c c\u1eadp nh\u1eadt th\u00f4ng tin v\u1ec1 c\u00e1c xu h\u01b0\u1edbng kinh t\u1ebf gi\u00fap d\u1ef1 \u0111o\u00e1n nh\u1eefng thay \u0111\u1ed5i n\u00e0y."},{"question":"Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh \u0111\u00f3ng vai tr\u00f2 g\u00ec trong qu\u1ea3n l\u00fd r\u1ee7i ro?","answer":"Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng r\u1ed9ng r\u00e3i \u0111\u1ec3 ph\u00f2ng ng\u1eeba r\u1ee7i ro, cho ph\u00e9p doanh nghi\u1ec7p v\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 b\u00f9 \u0111\u1eafp r\u1ee7i ro v\u00e0 b\u1ea3o v\u1ec7 kh\u1ecfi c\u00e1c kho\u1ea3n l\u1ed7 ti\u1ec1m \u1ea9n trong danh m\u1ee5c \u0111\u1ea7u t\u01b0 ho\u1eb7c ho\u1ea1t \u0111\u1ed9ng kinh doanh c\u1ee7a h\u1ecd."},{"question":"C\u00e1c nh\u00e0 giao d\u1ecbch c\u00f3 th\u1ec3 th\u00e0nh c\u00f4ng trong th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n ph\u00e1i sinh nh\u01b0 th\u1ebf n\u00e0o?","answer":"Th\u00e0nh c\u00f4ng \u0111\u1ebfn t\u1eeb vi\u1ec7c h\u1ecdc h\u1ecfi li\u00ean t\u1ee5c, hi\u1ec3u r\u00f5 \u0111\u1ed9ng l\u1ef1c th\u1ecb tr\u01b0\u1eddng v\u00e0 s\u1eed d\u1ee5ng c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u01b0\u1ee3c ph\u00e1t tri\u1ec3n t\u1ed1t ph\u00f9 h\u1ee3p v\u1edbi m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh v\u00e0 kh\u1ea3 n\u0103ng ch\u1ecbu \u0111\u1ef1ng r\u1ee7i ro c\u1ee7a t\u1eebng c\u00e1 nh\u00e2n."}]}},"yoast_head":"\nTi\u1ec1m n\u0103ng c\u1ee7a Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh<\/title>\n<meta name=\"description\" content=\"Kh\u00e1m ph\u00e1 c\u00e1ch ch\u1ee9ng kho\u00e1n ph\u00e1i sinh c\u00f3 th\u1ec3 n\u00e2ng cao qu\u1ea3n l\u00fd r\u1ee7i ro, \u0111a d\u1ea1ng h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0 v\u00e0 m\u1edf ra c\u01a1 h\u1ed9i giao d\u1ecbch m\u1edbi.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pocketoption.com\/blog\/vt\/knowledge-base\/markets\/derivatives\/\" \/>\n<meta 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