HSCHSC
  • Research Insights
  • Who We Serve
    Individual Clients
    Institutional Clients
    Corporate Clients
  • About Us
    Who We Are
    Our Philosophy
    Our Culture
    Our Leadership
    Awards & Recognitions
    Our History
  • Investor Relations
    Corporate Governance
    Financials
    Financial Statements
    Earnings Releases
    Annual Reports
    General Meeting of Shareholders
    Dividend
    Information Disclosure
  • Pressroom
    Press Releases
    Announcements
  • Making an Impact
ENVI
HSCHSC
banner

Margin Requirement (Derivatives)

hsc
Client GuidelineTrading ToolOpen AccountContact UsCareers
Terms of UsePrivacy & SecurityDisclaimers

Copyright © Ho Chi Minh City Securities Corporation. All rights reserved.

Search

09.10.2025

Futures Margin Regulations

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.
Futures Margin Regulations_1.png

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

Futures Margin Regulations_2.png

  • Risk Control Thresholds

Futures Margin Regulations_3.png

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.
    Related Content