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Government bond futures contract

Government bond futures contract (GBFC) or known as a futures contract on the interest rate of the underlying asset purchase or sale agreement, is the government bond at a predetermined price at a specific time in the future. The two parties are obliged to perform that contract at the time of maturity.

Criteria 5-Year GBFT
Underlying Asset Government bonds are issued by Vietnam State Treasury, with a 5-year term, Price = 100,000 VND, the nominal interest rate of 5% / year, interest is paid once every 12 months, the principal is paid upon maturity.
Contract code According to HNX’s convention
Multiplier 10,000 bonds
Contract scale 1 billion dong
Month of maturity Last 3 months of the last 3 quarters
Transaction time Open 15 minutes in advance, close at the same time as the base market
Transaction method Matching and put-through transactions
Amplitude +/- 3%
Price steps – Transaction unit 1 VND – 1 contract
Last transaction day The 15th day of the month of maturity or the day before if the 15th day is a holiday
Last payment day Last payment day
Payment method Physical delivery
Delivery bond standard Vietnam State Treasury bonds, with a remaining term 3- 7 years, the minimum listed value of VND 2,000 billion, conversion factor calculated at a nominal interest rate of 5%