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Derivatives transactions fall sharply in Jan

VIETNAM, February 11 - HÀ NỘI — The Hà Nội Stock Exchange (HNX) said that the derivatives market witnessed a sharp drop in transactions last month.

Although the VN30-Index closed January at 1,125.07 points, up 11.93 per cent over last December, VN30 futures contract trading decreased sharply compared to the previous month. 

Accordingly, the average trading volume was 262,708 contracts per session, down 35.72 per cent over the previous month, while the average trading value (in nominal terms) was over VNĐ28.2 trillion (US$1.19 billion) a session, a decline of 33.96 per cent from December 2022. January 4 was the session with the highest trading volume of the month with 342,409 contracts.

The dip in derivatives trading in January 2023 may be due to an increase in the margin ratio and low sentiment around the Lunar New Year holiday.

The Vietnam Securities Depository Centre (VSD), now called the Vietnam Securities Depository and Clearing Corporation (VSDC), announced the adjustment of the minimum initial margin on the VN30 futures contract from 13 per cent to 17 per cent, effective from December 12. 

Regarding investor structures, in January 2023, the proportion of foreign investors decreased compared to December 2022, accounting for 1.76 per cent of the total trading volume of the whole market. The proportion of proprietary transactions of securities companies reduced compared to the previous month, accounting for 1.35 per cent of the trading value of the whole market. — VNS