Chng VI

Th trng ti chnh

cc ni dung c cp
I. Nhng vn chung v th trng ti chnh II. Th trng tin t III. Th trng vn IV. Th trng chng khon V. Vai tr ca Nh nc trong vic hnh thnh, pht trin th trng ti chnh
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I, nhng vn chung v TTTC

1. Khi nim th trng ti chnh (TTTC)
2. i tng, cng c ca TTTC

3. Phn loi TTTC

4. Chc nng, vai tr ca TTTC

5. Cc iu kin cn thit hnh thnh

TTTC
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1, Khi nim
Th trng ti chnh l th trng m
din ra cc hot ng trao i,

mua bn quyn s dng cc ngun ti

chnh thng qua nhng phng thc giao dch v cng c ti chnh nht nh
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2, i tng, cng c ca TTTC

2.1 i tng
Quyn s dng cc ngun ti chnh

2.2 Cng c: ch yu l cc chng khon

Khi nim CK: L chng t di dng giy t hoc ghi trn h thng in t xc nhn quyn hp php ca ngi s hu chng t i vi ngi pht hnh Cng dng ca chng khon Cc loi chng khon
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Cng dng ca chng khon

CK c th c mua, bn chuyn nhng, c s dng lm vt th chp, tr n tin vay NH CK l phng tin tp trung huy ng ngun TC CK l phng tin u t thu li

CK l phng tin phn phi ngun ti

chnh gia cc khu vc v cc ngnh trong nn kinh t.
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3, Phn loi th trng ti chnh

Cn c vo phng thc huy ng ngun TC Th trng n Th trng vn c phn. Cn c vo s lun chuyn cc ngun TC TTTC s cp Cn c vo tnh cht php l TTTC chnh thc TTTC khng chnh thc. Cn c vo thi gian s dng cc ngun ti chnh Th trng tin t

Th trng vn

4, Chc nng, vai tr ca TTTC

4.1 Chc nng
Chc nng dn ngun ti chnh

Cung cp kh nng thanh khon cho cc

chng khon

Cung cp thng tin kinh t v nh gi gi tr ca doanh nghip

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4, Chc nng, vai tr ca TTTC

4.2 Vai tr
Thu ht huy ng ngun ti chnh cho u t pht trin kinh t

Nng cao hiu qu s dng ngun ti

chnh

Gp phn thc hin chnh sch ti

chnh, tin t ca nh nc
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5, iu kin cn thit hnh thnh TTTC

Nn kinh t hng ho pht trin, tin t n nh vi mc lm pht c th kim sot c. Cc cng c ca th trng ti chnh phi a dng

Hnh thnh v pht trin h thng trung gian ti chnh.

Xy dng v hon thin h thng php lut v cn c t chc qun l ca Nh nc i vi TTTC. Phi c CSVC k thut v h thng thng tin kinh t.
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II. th trng tin t

1. Khi nim th trng tin t 2. i tng, cng c ca th trng tin t 3. Cc ch th tham gia th trng tin t
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4. Cc b phn ch yu ca th trng

1, Khi nim

Th trng tin t l mt b phn ca

th trng ti chnh c chuyn mn ho i vi cc ngun ti chnh c trao quyn s dng ngn hn

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2, i tng, cng c ca th trng tin t

2.1 i tng
Quyn s dng cc ngun TC c thi hn s dng <= 1 nm

2.2 Cng c
Tn phiu kho bc Thng phiu Chng ch tin gi ngn hng, tn phiu, k phiu NH Giy chp nhn thanh ton ca NH Cc hp ng mua li 13 Vn d tr bt buc ca NHTM ti NHT

3. Cc ch th tham gia th trng tin t

Ngn hng trung ng Cc ngn hng thng mi Kho bc Nh nc Cc DN pht hnh chng khon ngn hn Ngi u t: cc t chc u t v ngi u t t nhn Ngi mi gii v ngi kinh doanh.
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4. Cc b phn ch yu ca th trng tin t

Th trng cho vay ngn hn trc tip Th trng hi oi giao dch cc loi ngoi t

Th trng lin ngn hng

Th trng chng khon ngn hn

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III. th trng vn

1. Khi nim 2. i tng, cng c 3. Ch th tham gia

4. Cc b phn ch yu
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1, Khi nim

Th trng vn l mt b phn ca th

trng ti chnh c chuyn mn ho

i vi cc ngun ti chnh c trao

quyn s dng di hn
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2, i tng, cng c ca th trng vn

2.1 i tng
Quyn s dng cc ngun TC c thi hn >1 nm.

2.2 Cng c
Cc chng khon trung hn v di hn C phiu Tri phiu
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C phiu
Khi nim
L chng khon chng nhn s vn gp vo cng ty c phn v quyn li ca ngi s hu CK i vi cng ty c phn

Phn loi
C phiu thng thng C phiu u i
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C phiu thng thng

Khi nim: L loi CP mang li cho ngi s hu n nhng quyn li thng thng. Quyn nhn li tc : c chia li tc theo K/qu hot
ng ca cng ty.

Quyn b phiu : c b phiu bu ra HQT, b

phiu cho nhng vn nh hng n ton b hot ng ca cng ty.

Quyn thng tin: c kim tra s sch ca cng ty. Quyn s hu : c chia s tin gii th cng ty
sau khi thanh ton ht cc khon n v cc khon u i 20 khc.

C phiu u i
Khi nim: L loi CP mang li cho ngi s hu n c hng nhng khon u i nht nh so vi CP thng.
c nhn li tc theo mc xc nh trc

c quyn nhn li tc trc c ng thng thng

c quyn chia ti sn do gii th cng ty trc c ng thng thng

Cc hnh thc
C phiu u i tch lu v khng tch lu C phiu u i tham d v khng tham d
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Tri phiu
Khi nim
Cc loi Theo ch th pht hnh TF Chnh ph TF cng ty TF ca NH v cc TCTD Theo tnh cht TF thng TF gia hn TF Coupon TF chuyn i TF c li sut bin i TF c li tc tr bng CF
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L mt loi chng khon

n chng nhn khon

vay do ngi i vay pht

hnh cam kt tr li tc v hon tr vn vay theo mt thi hn nht nh cho ngi s hu

n.

3, Ch th tham gia
Kho bc Nh nc Ngn hng thng mi Doanh nghip Cng ty c phn Cng ty chng khon Ngi mi gii Nh u t

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4, Cc b phn ch yu

Th trng cho vay di hn

Th trng tn dng thu mua Th trng chng khon trung v di hn

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iv. th trng chng khon

1, Khi nim 2, Th trng chng khon s cp 3, Th trng chng khon th cp

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1, Khi nim

Th trng chng khon l mt b phn ca th trng ti chnh c chuyn mn ha v mua bn cc

chng khon c ngn hn, di hn v

trung hn
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1. Th trng chng khon s cp

Khi nim L th trng pht hnh cc loi chng khon i tng Quyn s dng cc ngun ti chnh Cng c Cc CK mi pht hnh Ch th tham gia C ch hot ng
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Ch th tham gia TTCK s cp

Ngi cn ngun TC
(ngi pht hnh CK)

Ngi mi gii
(NH hoc cng ty CK)

Ngi cung ng ngun TC

(ngi mua CK mi pht hnh)

Nh nc
Chnh quyn F Cc t chc TC Cc DN

Bo lnh
C vn cho

Cc DN Cc h G, c nhn Cc TC u t chuyn nghip

ch th pht
hnh trong vic pht hnh CK

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C ch hot ng ca TTCK s cp
Hot ng vi c ch pht hnh. C 2 phng thc: U thc pht hnh: Nhng ngi bo lnh tp hp thnh 1 t hp pht hnh. Cc thnh vin ca t hp s nhn mt lng CK nht nh bn cho nh u t theo gi cng b. Pht hnh theo kiu u gi: Ch th P/H thng bo tin hnh u gi, cn c vo bng tng hp xin mua ca cc t chc tham gia u gi xp theo th t gi cho t cao xung thp, ch P/H p ng mi lnh t gi cao nht cho n khi 29 t c tng s tin h mun

2. Th trng CK th cp
Khi nim L th trng lu thng, mua i bn li cc CK c pht hnh trn TTCK s cp i tng Quyn s dng cc ngun ti chnh Cng c L cc CK c pht hnh trn TTCK s cp. Cc ch th tham gia TTCK th cp Cc hot ng ca TTCK th cp
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Cc ch th tham gia TTCK th cp

T chc qun l gim st th trng
Ngi u t bn li CK Ngi u t mua li CK

S giao dch CK Ngi mi gii

Cc t chc khc c lin quan

Cng ty t vn u t CK Hip hi cc nh KDCK T chc k gi v thanh ton CK Cng ty nh gi h s tn

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Cc hot ng ca TTCK th cp
Cung cp lnh mua, lnh bn cc CK nh gi chng khon Giao dch CK l hot ng tr tin mua v giao CK bn. C 3 phng thc giao dch: - Giao dch tr tin ngay - Giao dch theo k hn - Giao dch theo hnh thc tn dng
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nh gi chng khon
Khi nim: L xc nh gi giao dch ca mt loi chng khon ti mt thi im

Cc nhn t nh hng n th gi chng

khon:

i vi c phiu
i vi tri phiu
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V. Vai tr ca nh nc trong vic hnh thnh v pht trin TTTC

To mi trng php l To mi trng kinh t

Kim tra, gim st hot ng th trng

o to con ngi

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