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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% |