What is allocation of deposit interest and interest using the Clearing Fund for the derivatives market at the Vietnam Securities Depository?

What is allocation of deposit interest and interest using the Clearing Fund for the derivatives market at the Vietnam Securities Depository?

In Appendix 3 issued with Decision 115/QD-VSD in 2022, it regulates allocation of deposit interest and interest using the Clearing Fund for the derivatives market at the Vietnam Securities Depository as follows:

1. Receive deposit interest arising from the Clearance Fund deposit account and the payable deposit account:

- When deposit interest arises, the paying bank notifies the interest amount to VSD in the form of MT910- Report YES for interest principal credited to the clearing fund account or sends a Credit Notice in case deposit interest arises on the deposit account the amount to be refunded.

- VSD performs accounting increases in the Clearance Fund deposit account and the payables deposit account.

2. VSD allocates deposit interest and interest using the Clearing Fund to clearing members according to the formula:

In there:

Z _i : amount allocated to clearing member i

B: is the difference between the clearing fund deposit interest and the clearing fund deposit account management fee at the payment bank arising during the calculation period (if any).

V: is the total amount of interest using the Clearing Fund collected from clearing members who are unable to pay money using the Fund during the calculation period.

R: is the total amount of bank interest and usage interest allocated to clearing members who have their status as clearing members canceled or are no longer clearing members arising during the calculation period).

: is the total balance of contributions to the Clearing Fund of all days in the calculation period of clearing member i. (j: 1-> m, m is the number of days to calculate interest distribution).

: is the total balance of contributions to the Clearing Fund of all days in the calculation period of all clearing members (i: 1-> n j , n j is the number of clearing members contributing to the Clearing Fund at date j).

3. VSD allocates refundable deposit interest to clearing members according to the formula:

In there:

Z _i : amount allocated to clearing member i

B: is the difference between the deposit interest on the amount to be refunded and the separate management account management fee at the payment bank incurred during the calculation period (if any).

: is the total deposit balance from the payable amount of all days in the calculation period of clearing member i. (j: 1-> m, m is the number of days to calculate interest distribution).

: is the total deposit balance from payables of all days in the calculation period of all clearing members (i: 1-> n j , n j is the number of clearing members whose repayments are managed separately at date j).

What is form to request withdrawal of assets contributed to the Clearing Fund for the derivatives market at the Vietnam Securities Depository?

In Form 01/QBT issued together with Decision 115/QD-VSD in 2022, the form for requesting withdrawal of assets contributed to the Clearing Fund for the derivatives market at the Vietnam Securities Depository is specified as follows:

REQUEST TO WITHDRAW ASSETS CONTRIBUTING TO THE COMPENSATION FUND

To: Vietnam Securities Depository Center

We propose to withdraw assets contributed to the Clearing Fund as follows:

Reason for withdrawal:

Confirmation of Vietnam Securities Depository Center:

Effective date of money transfer ………………………………………………………………………………………………...

Effective date of securities transfer ………………………………………………………….

What is sample notice of replacement of securities contributed to the Clearing Fund for the derivatives market at the Vietnam Securities Depository?

In Form 02/QBT issued together with Decision 115/QD-VSD in 2022, the form for notification of replacement of securities contributed to the Clearing Fund for the derivatives market at the Vietnam Securities Depository Center is prescribed as follows:

Dear: Company/Bank....

Vietnam Securities Depository (VSD) notifies your Company/Bank about the replacement of securities contributed to the Clearing Fund at VSD as follows:

1. Details of securities contributed to the Clearing Fund that must be replaced:

2. Reasons for replacing securities contributed to the Clearing Fund: ………

It is requested that your Company/Bank replace the securities in the list mentioned in Section 1 with securities approved by VSD as assets to contribute to the Clearance Fund according to regulations no later than date .../... /.... Past the above deadline, if your Company/Bank does not replace or submit additional contributed assets to meet the requirements of the Clearance Fund contribution obligation, VSD will apply forms of handling violations according to regulations on derivative securities clearing members at VSD./.

Best regards!