VN100 futures contract officially traded on October 10

New investment and defense tools

According to the Vietnam Stock Exchange (VNX), VN100 index futures (VN100 Futures) will start trading from October 10, 2025 on the Hanoi Stock Exchange (HNX), after being approved by the State Securities Commission. This is the second derivative product based on stock indexes, following the success of the VN30 futures contract after 8 years of stable operation.

Photo caption — VN100 futures contracts open up new investment opportunities for derivatives. Illustrative photo

Mr. Nguyen Quang Thuong, Deputy General Director of VNX, said that the launch of VN100 Futures is part of the product diversification roadmap according to the Stock Market Development Strategy to 2030. The new product helps investors both invest and hedge portfolio risks more effectively, while increasing the scale and depth of the derivatives market.

VN100 is a highly representative index, reflecting about 88% of the total market capitalization value of HOSE. While the VN30 basket focuses on 30 large-cap stocks, VN100 includes the VNMidcap group, helping to increase balance and reduce concentration risk. The top 10 stocks only account for about 51% of the index basket's capitalization value, significantly lower than 64% of VN30.

In particular, the correlation coefficient of VN100 with VN-Index is up to 98.6%, showing that this index closely follows the fluctuations of the whole market. Thanks to that, VN100 futures contracts are considered an effective risk hedging tool for large-scale investment funds, contributing to stabilizing the underlying market and retaining long-term capital flows.

Phu Hung Securities Company (PHS) said it has "completed the technology infrastructure and human resources" to support customers in trading as soon as VN100 Futures is launched, and also stated that VN100F will create a new wave in derivatives investment, attracting a group of individual investors who are knowledgeable about fast trading techniques.

At DNSE Securities Company, the analysis department assessed VN100F as “a necessary boost to diversify the derivatives portfolio, reducing dependence on VN30F”. DNSE currently accounts for about 16.7% of the derivatives brokerage market share, and also affirmed that it will deploy a training program on VN100 contract trading for investors in the fourth quarter of 2025.

In addition, the group of companies that have participated in building and managing ETF funds simulating the VN100 index such as BSC, Bao Viet Securities, KIS Vietnam and Ban Viet (VCSC) are considered potential partners in consulting on product structure, providing index data and supporting communications for the market. These are all units with experience in monitoring and operating the VN100 portfolio in the VinaCapital VN100 ETF fund, currently one of the largest ETFs simulating this index in Vietnam.

In addition, large securities companies such as SSI and HSC are also expected to soon participate in providing VN100F trading advisory products and services to institutional clients. SSI is currently leading the derivatives market with a stable technology platform, while HSC said it is "researching to expand its derivatives product portfolio to the VN100 index in the final phase of 2025".

Flexible design, accurately reflecting market developments

VN100 futures are designed based on the technical framework of the VN30 product, with the underlying asset being the VN100 index. Each contract has a size of 100,000 VND multiplied by the index point, the price fluctuation range during the session is ±7%, the volume limit is 500 contracts per order. The expiration month includes the current month, the next month and the last two months of the next two quarters. The final settlement price is calculated as the average of the last 30 minutes of the expiration date, excluding the 3 highest and lowest values to avoid price manipulation.

With this structure, the product ensures transparency and makes it easy for investors to get acquainted thanks to the mechanism similar to the VN30 futures contract. The biggest difference lies in the underlying assets: VN100 provides a more comprehensive picture, reflecting both leading stocks and the average group with good liquidity, in line with the international trend of expanding the underlying index.

In fact, developed markets such as Japan, Korea or France have deployed many types of futures contracts on index baskets of different sizes to diversify their portfolios and avoid concentrating liquidity on a single product. Vietnam is moving in this direction, as VN100 Futures is expected to become a key product alongside VN30, contributing to the completion of the derivatives ecosystem.

According to HNX data, by the end of 2024, the Vietnamese derivatives market will have more than 1.86 million accounts, an increase of 25% compared to the previous year. The total trading volume of VN30 contracts reached more than 52.7 million contracts, the open volume increased 5.6 times compared to 2017. However, because the market still depends almost entirely on the VN30 product, the appearance of VN100 Futures will help distribute risks, increase liquidity and create new development momentum for the entire market.

According to securities companies, the official trading of VN100 futures contracts on October 10 is not only a technical step but also an important milestone affirming the determination of the management agency in modernizing the stock market. VN100 Futures is expected to bring a balance between investment and risk prevention, enhancing the attractiveness of the Vietnamese market in the eyes of domestic and foreign investors, towards the goal of sustainable development by 2030.

Source: https://baotintuc.vn/thi-truong-tien-te/hop-dong-tuong-lai-vn100-chinh-thuc-giao-dich-ngay-1010-20251009192234521.htm