Circular No. 23/2017/TT-BTC: Guidelines on derivative securities in Vietnam

16:16, 11/04/2017

Circular No. 23/2017/TT-BTC of the Ministry of Finance of Vietnam supplements regulation on the general transaction account on derivatives exchanges as follows:

- General transaction account refers to a transaction account of an investor where a long or short position of a futures contract (on the same underlying asset and expiring in the same month) is opened and maintained until a clearing member requests deduction to be made under specified agreements or at the request of the investor.

- The investor may open an general transaction account when

+ the fund management company is allowed to open one (01) general transaction account held in the name of the domestic entrusting investor and one (01) general transaction account held in the name of the foreign entrusting investor;

+ a securities enterprise established in overseas countries is allowed to open one (01) general transaction account to act on behalf of the foreign investor to perform derivatives brokerage activities;

+ Other situations that may occur are subject to instructions given by the Vietnam Securities Deposit.

Circular No. 23/2017/TT-BTC of the Ministry of Finance of Vietnam takes effect from May 01, 2017.

Source: Finance Magazine

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