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Outstanding features
Utilities
- An effective tool to hedge the rate risks of the foreign currency that Customer is holding.
- Capability to meet specific demands of each individual Customer.
- Staff of enthusiastic and dedicated consultants.
- Vast transaction network.
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Options transaction helps secure foreign currency rate risk.
Features
- Sacombank sells options to Customer and do not buy options from Customer.
- Transaction currencies: EUR/USD, GBP/USD, AUD/USD, USD/CAD, USD/JPY…
- Not applicable for Gold and Currency/VND pairs.
- Types of option:
+ Call option: In anticipation of an increase in the exchange rate in the future, buying Call Option will enable Customer to purchase an amount of foreign currency lower than the market rate.
+ Put option: In anticipation of a decrease in the exchange rate, buying Put Option will enable Customer to sell an amount of foreign currency higher than the market rate.
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Customer has 2 options: Call Option and Put Option.
- Types of option:
+ American option: Customer buys an option that can be exercised at any point of time during the contract's validity.
+ European option: Customer buys an option that is exercised only on the expiration date of the contract.
- Term of contract:
+ Minimum 01 day.
+ Maximum 365 days.
- Minimum scale: USD 50,000 or equivalent foreign currency accepted by Sacombank from time to time.
- Premium: the amount that the buyer must pay for the seller of the option immediately after closing the option transaction.
- Option exercise time:
+ For European option, 14:30 Hanoi time of the expiration date.
+ For American option, the period from 07:30 to 11:30 and from 13:30 to 14:30 every working day in time.
Eligibility
Conditions:
- Customer buying foreign currency purchase options: Customer must present papers and documents that provide sufficient information on the purposes, quantity, types of foreign currency, payment terms, money transfer according to current regulations on foreign currency transactions, foreign exchange management and Sacombank.
- The remaining cases: no need to provide documents.
Procedures:
- Sign the Principle Contract, Risk disclosure and Transaction registration form.
- Open a margin account and make a margin deposit according to regulations.
- Customer commits to pay in full and on time the option purchase price in accordance with Sacombank's regulations.
- For detailed solutions, Customer please contact email address: Treasuryinfo@sacombank.com or Sacombank's Customer Service Center at 1800.5858.88 or the nearest Branches/Transaction Offices.
