Derivatives market

A. Transaction fee of Index Futures Contract

Types of transactionsFeeOpening or closing a position Form VND 1,000/ contractContract expiringVND 1,000/ contract

B. Trading fee of Government Bond Futures Contract

Types of transactionsFeeOpening or closing a position VND 20,000/ contract

C. Margin deposit/withdrawal/transfer

Types of transactionsFee1. Deposit/withdrawalFree2. Transfer margin to bank accountsIn accordance with banks’ fee schedules

D. Service prices payable to Hanoi Stock Exchanges

Types of feesFeeTrading fee for Index Futures ContractVND 2,700/ contractTrading fee for Bond Futures ContractVND 4,500/ contract

Note: Service prices payable to the Stock Exchange are subject to VAT as regulated by the Exchange.

E. Service prices payabl to Viet Nam Securities Depository And Clearing Corporation (VSDC)

Type of feesFee1. Derivative securities clearing service feeVND 2,550 / contract2. Collateral management service fee

0.0024% x Accumulated Equity Balance / month

Maximum VND 1,600,000 / month

Minimum VND 100,000 / month

The margin balance used for calculation is the end-of-day margin balance.

The deposited asset management fee is collected on the last working day of each month.

F. Income Tax

1. For Retail Clients (Local and Foreign) and Foreign Institutional Clients:

Tax rate = 0.1% × transfer price per transaction.

Transfer price per transaction = (Payment price of the futures contract × Contract multiplier × Number of contracts × Initial margin rate) / 2

In which:

The timing for determining taxable income is either the execution time of opening/closing a position or the expiration date of the futures contract
The initial margin rate (IM VSDC) is regulated by the VSDC and may vary from time to time. Currently, the IM VSDC is 17% for stock index futures contracts and 2.5% for government bond futures contracts.

2. For Local Institutional: corporate income tax is applied.

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