Chng 3 : Th trng th cp

Chng 3: Th trng th cp

Th trng chng khon

Mc lc 1. Khi nim, chc nng S giao dch chng khon 2. Thnh vin S giao dch

3. Nim yt chng khon

4. Giao dch chng khon 5. Th trng OTC, Upcom

Vn 1: Khi nim, chc nng ca S giao dch chng khon

Khi nim S giao dch chng khon L php nhn thnh lp vi chc nng t chc v gim st hot ng nim yt v giao dch ca cc chng khon nim yt ti S

Cc loi chng khon nim yt : C phiu Tri phiu Chng ch qu u t Chng khon phi sinh

S t chc S H Ch Minh

S t chc s H ni

Chc nng ca SGDCK Thit lp th trng tp trung c t chc To mi trng u t

nh gi cng bng
Huy ng vn tit kim thnh u t

Hnh thc s hu ca S giao dch

S hu Nh nc

S hu thnh vin
S hu i chng

Vn 2: Thnh vin S giao dch chng khon

Thnh vin s giao dch chng khon Cng ty CK c chp nhn Phn loi thnh vin ty tng nc:

Theo quyn: Thnh vin chnh + Thnh vin c bit (Hn Quc)
Theo chc nng : +Nh mi gii; Ngi giao dch; Nh to lp th trng (M) +Thnh vin thng v thnh vin Saitori (Nht) Theo v tr a l: Trong nc, nc ngoi

iu kin thnh vin

Yu cu Ti chnh

Yu cu nhn s

Yu cu k thut

iu kin thnh vin S HSX, HNX L cty CK c UBCK cp php L thnh vin lu k ca Trung tm lu k

k vt cht k thut phc v h: h thng tin hc, phn mm, ng truyn , h thng cng b thng tin..
Ban lnh o, nhn vin c nng lc kinh nghim, c cn b cng ngh thng tin (2 ng, bng cp, chng ch chuyn mn ) iu kin khc

Quyn- ngha v ca thnh vin

Quyn Ngha v

Giao dch Nhn thng tin La chn dch v Thu ph khch hng Biu quyt HQT (S hu cng ty c phn)

Thanh ton ph Bo co thng tin

Vn 3: Nim yt trn S giao dch chng khon

Cc vn lin quan n Nim yt Nim yt l g u nhc im ca vic nim yt

Tiu chun nim yt

Phn loi nim yt Th tc nim yt Qun l nim yt

Nim yt v mc tiu nim yt Nim yt chng khon l th tc cho php mt chng khon nht nh c php GD trn SGD.

Mc tiu nim yt: i vi nh qun l th trng : minh bch, h tr pht trin TT, to nim tin NT qua vic chn la chun ha cng ty c nim yt i vi t chc nim yt : mang li nhiu li ch

u nhc im ca nim yt Huy ng vn d dng Nng tnh thanh khon cho CK Tc ng tch cc n cng chng Thu u i 1 s nm

u im

Nhc im

Ngha v cng b thng tin nh hng t gi th trng ti uy tn cng ty iu hnh, sp nhp, thu tm.. phi thng qua biu quyt

Phn loi nim yt CK Nim yt ln u Nim yt b sung

Thay i nim yt (tn, khi lng, mnh gi, gi tr)

Nim yt li ( nim yt tr li sau khi b hy nim yt do ko t iu kin trc y)

Nim yt ca sau
Nim yt song hnh( ton b) v nim yt tng phn: nim yt ton b hoc 1 phn s CK pht hnh ra

Tiu chun nim yt iu kin nh lng

Quy m vn Thi gian hot ng Li sut t vn cp T l n Phn b c ng

iu kin nh tnh

Trin vng Ban lnh o, c cu b my Phng n sd vn Cng b thng tin Kim ton Mu chng ch ck

Quy trnh nim yt ln u Np bn ng k ln y ban CK

S gd thm nh s b
Np h s xin php nim yt chnh thc Thm tra nim yt chnh thc

Nim yt

Vn 4: Giao dch chng khon trn s GD

Cc khi nim c bn
Phng thc giao dch Cc trng hp GD c bit

Cc KN c bn lin quan gd CK 1. Thi gian GD 2. n v giao dch 3. Gi tham chiu, gi trn, gi sn 4. n v yt gi 5. Bin giao ng gi 6. Lnh GD

1- Thi gian giao dch Thi gian giao dch l khong thi gian ck c thc hin giao dch trn Sn ca S GD Thi gian giao dch c chia thnh cc phin giao dch Ti HNX:

- Giao dch t th 2 n th 6, t 8h30 n 11h tr cc ngy ngh l theo quy nh

2- n v giao dch n v giao dch l s lng chng khon c quy nh lm n v trong mt giao dch Thng thng n v giao dch l 100, 10 ,1. Giao dch vi bi s ca n v ny Xu hng gim n v xung tng tnh thanh khon Ti Vit Nam: n v giao dch ti Sn H ni l l 100

n v giao dch ti Sn H Ch Minh l l 10

3- n v yt gi n v yt gi l n v tin t nh nht gi chng khon thay i. n v yt gi nim yt gi v t gi khi giao dch n v yt gi ti HNX l 100 ng n v yt gi ti HSX:
Mc gi <= 49.900 ng 50.000 - 99.900 ng >=100.000 ng C phiu 100 ng 500 ng 1000 ng

4- Gi tham chiu Gi tham chiu l gi c s cho ngy giao dch tip theo Gi tham chiu ti HSX l gi ng ca phin trc Gi tham chiu ti HNX l gi bnh qun gia quyn ca cc gi phin giao dch trc

5- Bin giao ng gi Bin giao ng gi l khong gii hn gi chng khon cao nht v thp nht c php thay i trong ngy giao dch Bin giao dch ti Sn H Ni l +/- 7% gi tham chiu Bin giao dch ti Sn H Ch Minh l +/- 5% gi tham chiu c phiu ang nim yt Bin giao dch i vi c phiu mi l +/-20% gi d kin trong phin giao dch u tin

Cc loi Lnh giao dch 1. Lnh gii hn 2. Lnh ATO, ATC 3. Lnh th trng 4. Lnh dng ( Dng mua, dng bn )

5. v v v

Cc phng thc chuyn lnh

1 Chuyn lnh 3

Trc tip cho mi gii 2 Qua in thoi, mail

Qua ti khon online

Cc c ch hnh thnh gi

Khp lnh nh k

Gd khp lnh
Khp lnh lin tc

Giao Dch CK
Gd tha thun

Giao dch khp lnh nh k Phng thc GD: so khp lnh ti 1 thi im xc nh , 1 gi duy nht
Nhp lnh vo h thng
Sp s lnh theo th t u tin

Trnh t

So khp ti 1 thi im xc nh

Nguyn tc xc nh gi -Mc gi thc hin c khi lng giao dch ln nht. -Nu c nhiu mc gi tha mn mc gi trn th mc gi trng hoc gn vi gi thc hin ca ln khp lnh gn nht s c chn.

Giao dch khp lnh lin tc Khp lnh lin tc: so khp ngay khi lnh c nhp vo h thng giao dch Gi thc hin c xc nh trn c s mc gi ca lnh gii hn i ng ang nm ch trn s lnh

u tin khp lnh u tin v gi => u tin v thi gian u tin v gi: Mua gi cao hn, bn gi thp hn c khp trc u tin v thi gian: Cng mc gi th lnh n trc khp trc

Giao dch tha thun Phng thc giao dich trong cc thnh vin t tha thun vi nhau v cc iu kin giao dch v c i din giao dch ca thnh vin nhp thng tin vo h thng giao dch ghi nhn Vi cc s giao dch ko sn, cc tha thun cng nh thc hin c thc hin qua h thng my tnh ni mng

Vn 5: Th trng OTC

Khi nim
c im Cc phng thc giao dch

Khi nim th trng OTC

Th trng chng khon OTC l th trng giao dch nhng chng khon cha c nim yt trn th trng tp trung (S giao dch) hay c th hiu OTC l th trng giao dch cc chng khon ngoi bng hay chng khon loi 2

c im th trng OTC C in: Khng a im tp trung T chc Hin i: Tnh tp trung tng, mng in t Chng khon cha nim yt trn SGD

Sn phm Giao dch

Tha thun, thng lng

Linh hot, Song phng, a Thanh ton phng, thi im T+ n tha thun C ch qun l Cp nh nc v cp t qun

Nh to lp th trng trn th trng OTC Nh to lp th trng (MMs) l nhng cng ty kinh doanh v chng khon, thc hin nghip v mi gii chng khon, mua bn lin tc c 2 chiu, to thanh khon cho chng khon m n lm MMs.

u i i vi MMs Thng tin c li Min ph giao dch chng khon

u i v thu

Th trng Upcom Vit Nam UPCom: th trng giao dch chng khon cng ty i chng cha nim yt c t chc ti SGDCK H Ni S H Ni qun l Hnh thc trung gian gia th trng OTC v th trng tp trung SGD

Th trng UPcom
Tiu ch
n v giao dch Khi lng giao dch n v yt gi Bin giao ng Phng thc giao dch

UPCoM

Khng quy nh Ti thiu 10 cp v khng quy nh vi TP CP: 100, khng quy nh vi tri phiu 10 % vi c phiu, khng quy nh vi tri phiu Giao dch tha thun thng thng v tha thun in t - KLGD 100.000 CP : Thanh ton trc tip, T+1 - KLGD 100.000 CP : Thanh ton b tr a phng, T+3 - TP : Thanh ton b tr a phng, T+1

Phng thc v thi gian thanh ton

Cc trng hp c bit lin quan n giao dch chng khon