Client Guideline

1. Margin Parameters

• Contract Multiplier (M): Currently set at 100,000 VND per index point.
• Margin Ratios:
  • Intraday Margin Ratio (IM %): Prescribed by HSC and applied to intraday positions.
  • Overnight Margin Ratio (OM %): Prescribed by VSDC and applied to positions held overnight.

HSC may adjust Intraday Margin Ratio (IM %) from time to time while ensuring compliance with Overnight Margin Ratio (OM %) as regulated by VSDC.

2. Intraday Margin Requirements

• Intraday Margin Requirement (IMR)

  The IMR is the total margin required against all open trading positions during the session, calculated as follows:

  IMR = IM% × Number of Contracts × M × Price

  Price is the last matched price during the trading session, or the Daily Settlement Price (DSP) determined by VSDC after market close.

• Margin Ratio (MR%)

  MR% = Equity Balance (EB) / Intraday Margin Requirement (IMR)

  The Margin Ratio measures the risk level of the account.

• Account Status Thresholds

• Risk Control Thresholds

• Call Amount

  The amount the client must deposit to restore the account to Normal status, calculated as follows:

  Call Amount = IMR × Warning Threshold (%) − Equity Balance (EB)

• Account status Notification

  Clients may monitor account status via HSC trading platforms.

  From 15:30 on on trade date, notifications will be sent via registered channels (SMS and email) if the account falls below Maintenance level.

• Forced Liquidation of Margin-Breaching Accounts

  Clients are required to deposit additional margin or reduce positions to restore the account to Normal status (MR > 80%).

  If no action is taken, HSC will proceed to liquidate positions when the account falls below Force Close level and restore the account to Maintenance level (MR > 80%).

3. Overnight Margin Requirements

• Overnight Margin Requirement (OMR)

  The OMR is the total margin required to maintain positions held overnight, calculated as follows:

  OMR = OM% × Number of Contracts × M × DSP

  Where DSP (Daily Settlement Price) is determined by VSDC after market close.

• Margin Surplus / Deficit 

  Surplus / Deficit = Equity Balance (EB) − OMR

  • If EB < OMR: The account has a margin deficit. The client should deposit additional margin to maintain positions in accordance with VSDC regulations.
  • If EB > OMR: The account has a margin surplus. The client is eligible to withdraw funds up to the surplus amount.