Derivatives aguadi mu kyɛfafo tua commission fee wɔ deals a wɔyɛ no ho. Saa commissions yi kɛse gu ahorow gyina tow a nea ɔde ne ho hyɛ mu no paw so. Yɛbɛka wɔn ho asɛm wɔ asɛm no mu, ne saa sika (commissions) a ɛsɛ sɛ wutua no nyinaa ho asɛm.
Tow atitiriw a wɔbɔ wɔ Moscow aguadidan no ho
Pon no kyerɛ mprempren sika a wɔbɔ wɔ Moscow Exchange no ho (wɔnnye VAT):
Din | Nneɛma a wɔboaboa ano a ɛfa nsakrae no ankasa ho | Nneɛma a Wɔboaboa Ano HKO NCC (Ɔman no Asoɛe a Ɛhwɛ Nneɛma So) . | Total Commission |
Towtua a Ɛto so 1 | |||
Ɔfã a wɔahyɛ da ayɛ (rubles) . | — . | — . | — . |
akyire | 0.00575% na ɛwɔ hɔ. | 0.00425% na ɛwɔ hɔ. | 0.01% na ɛwɔ hɔ. |
Towtua a Wɔde Towtua No2 | |||
Ɔfã a wɔahyɛ da ayɛ (rubles) . | 14.38 mpem | 10.63 mpem | mpem 25 na ɛwɔ hɔ |
akyire | 0.0053475% na ɛwɔ hɔ. | 0.0039525% na ɛwɔ hɔ. | 0.0093% na ɛwɔ hɔ. |
Towtua a Ɛto so 3 | |||
Ɔfã a wɔahyɛ da ayɛ (rubles) . | 143.75 mpem | 106.25 mpem | mpem 250 na ɛwɔ hɔ |
akyire | 0.0050025% na ɛwɔ hɔ. | 0.0036975% na ɛwɔ hɔ. | 0.0087% na ɛwɔ hɔ. |
Towtua a Ɛto so 4 | |||
Ɔfã a wɔahyɛ da ayɛ (rubles) . | 258.75 mpem | 191.25 mpem | mpem 450 na ɛwɔ hɔ |
akyire | 0.0047725% na ɛwɔ hɔ. | 0.0035275% na ɛwɔ hɔ. | 0.0083% na ɛwɔ hɔ. |
Towtua a Ɛto so 5 | |||
Ɔfã a wɔahyɛ da ayɛ (rubles) . | 460 mpem | mpem 340 na ɛwɔ hɔ | mpem 800 na ɛwɔ hɔ |
akyire | 0.0046% na ɛwɔ hɔ. | 0.0034% na ɛwɔ hɔ. | 0.0080% na ɛwɔ hɔ. |
Daa (a ɛnsakra) fã – a wotua wɔ aguadi da a edi kan (bere a ɛwɔ da bi mu a nsakrae no yɛ aguadi) wɔ ɔsram biara mu, a sɛ ebia na akwammisa (ahyɛde) bi wɔ hɔ anaasɛ wɔawie/awie nnwuma anaasɛ ɛnte saa.
Akyi fã no tua fi sika a asɛm no da a asɛm no, commission biara yɛ anyɛ yiye koraa no 0.01 rubles.
Towtua mu nsakrae no gyina nea ɔde ne ho hyɛ mu no akwammisa a ɛne sɛ ɔbɛpaw nsakrae aguadi nhyehyɛe a ɛte saa no so. Ɛsɛ sɛ wɔde akwammisa no kɔma HKO NCC Sikakorabea no wɔ adwuma nnafua 5 mu ansa na kalenda bosome a edi hɔ no afi ase (tow a wɔapaw no bɛyɛ adwuma afi mu).
Ka a wɔbɔ wɔ gye a wogye tom sɛ wɔmfa wɔn ho nhyɛ aguadidan no mu no ho
Ntoboa dodow a wɔde bɛma, a egyina Participants kuw a broker no ka ho so no, wɔde akyerɛ wɔ pon no so:
Nnipa a Wɔde Wɔn Ho Hyehyɛ Aguadi Mu Ahorow Ahorow | Ntoboa a wɔde ma wɔ ɔfã biara mu |
“O” . | 5,000,000 na wɔde mae |
“O” (aka foforo a wɔde tua ho ka) . | 250 000 na wɔde ma |
“F1” anaa “F2”. | 3,000,000 na wɔde mae |
“T1” anaa “T2”. | 1,000,000 na wɔde mae |
“D1” anaa “D2.” | 1,000,000 na wɔde mae |
Wogye sika foforo fi Participants of category “O” hɔ de kyerɛw wɔn din. Ɛnyɛ bere nyinaa na wɔbɔ ho ka. Gyinaesi a ɛfa nneɛma a wobetumi agyina so ayi afi saa sika yi ho a ɛwɔ hɔ no ho no, wɔde Derivatives Market Committee a ɛwɔ PJSC Moscow Exchange no nyansahyɛ so si.
Fa akuw ahorow no ho asɛm tiawa:
- “O”. Wɔn a wɔde wɔn ho hyɛ asɛm no mu no wɔ tumi krataa ma brokerage/dealer dwumadi ahorow anaasɛ wɔyɛ adwuma wɔ agyapade a ɛsom bo sohwɛ ho. Saa kuw yi mufo wɔ hokwan sɛ wodi gua wɔ Stock, Commodity ne Money afã horow no mu. Wobetumi ayɛ nkitahodi afi:
- ɔno ara ne din mu ne ɔno ara ne ka;
- ankasa din ne nea ɔde retɔ no no ka;
- wɔ afɛfoɔ a wɔregye wɔn a wɔde wɔn ho ahyɛ mu no ananmu na wɔabɔ wɔn ka, ne sɛ wɔbɛyɛ nnwuma a wɔde clearing broker bi kyerɛ (ɛgyina sɛ ebia wɔdi akwan a wɔfa so nya nneɛma no fã a ɛfa ho no so anaa).
- “F1” ho asɛm. Ɛsɛ sɛ wɔn a wɔde wɔn ho bɛhyɛ mu no nya tumi krataa ma brokerage dwumadi anaa dwumadi ahorow a wɔde hwɛ agyapade a ɛsom bo so. Saa kuw yi mufo wɔ hokwan sɛ wodi gua wɔ Stock ɔfã no mu fi:
- ankasa din ne wɔn a wɔkra nneɛma no ka;
- wɔ afɛfoɔ ananmu na wɔtua wɔn ka – wɔn a wɔde wɔn ho hyɛ mu wɔ clearing mu, ne sɛ wɔbɛwie nnwuma a wɔde clearing broker akyerɛ.
- “F2” ho asɛm. Ɛsɛ sɛ wɔn a wɔde wɔn ho bɛhyɛ mu no nya tumi krataa a ɛkyerɛ sɛ wɔbɛtɔn nneɛma. Wɔma saa Participants kuw yi kwan ma wodi gua wɔ Stock Section no mu mfa nyɛ nkitahodi:
- wɔ n’ankasa ananmu ne n’ankasa sika so;
- a ɛkyerɛ nea ɔyɛ clearing broker no.
- “T1” na ɛyɛ. Ɛsɛ sɛ wɔn a wɔde wɔn ho bɛhyɛ mu no nya tumi krataa ma brokerage (wɔkan tumi krataa a wɔde bedi dwuma wɔ apam a ɛte saa no ho – sikasɛm mu agyapade a efi mu ba a agyapade a ɛwɔ ase no yɛ aguade) anaa dwumadi ahorow a wɔde hwɛ agyapade a ɛsom bo so. Wɔma saa Wɔn a Wɔde Wɔn Ho Hyehyɛ Mu yi kwan kɔ Nneɛma a Wɔde Di Dwuma Ɔfa no mu ma wɔyɛ nnwuma:
- wɔ n’ankasa ananmu ne wɔn a wɔde wɔn ho to wɔn so no ka so;
- wɔ wɔn a wɔde wɔn ho bɛhyɛ mu no ananmu ne wɔn a wɔde wɔn ho hyɛ mu no ho ka mu — clearing participants;
- a ɛkyerɛ nea ɔyɛ clearing broker no.
- “T2” na ɛyɛ. Ɛsɛ sɛ wɔn a wɔde wɔn ho to so no nya tumi krataa ma dealer dwumadi anaasɛ ɛsɛ sɛ wɔyɛ ahyehyɛde ahorow a anyɛ yiye koraa no, wɔn ankasa sika dodow yɛ ruble ɔpepem 5. Saa ɔfa yi wɔ kwan kɔ Commodity Ɔfã no mu ma nkitahodi:
- wɔ n’ankasa ananmu ne n’ankasa sika so;
- a ɛkyerɛ nea ɔyɛ clearing broker no.
- “D1” ho asɛm. Ɛsɛ sɛ wɔn a wɔde wɔn ho bɛhyɛ mu no nya tumi krataa ma brokerage dwumadi anaa dwumadi ahorow a wɔde hwɛ agyapade a ɛsom bo so. Wɔma saa Wɔn a Wɔde Wɔn Ho Hyehyɛ Mu yi kwan ma wodi gua wɔ Sika Ɔfa no mu mfa nyɛ nkitahodi:
- wɔ n’ankasa ananmu ne wɔn a wɔde wɔn ho to wɔn so no ka so;
- wɔ wɔn a wɔde wɔn ho bɛhyɛ mu no ananmu ne wɔn a wɔde wɔn ho hyɛ mu no ho ka mu — clearing participants;
- a ɛkyerɛ nea ɔyɛ clearing broker no.
- “D 2 na ɛwɔ hɔ”. Ɛsɛ sɛ wɔn a wɔde wɔn ho bɛhyɛ mu no nya tumi krataa a ɛma wɔtɔn nneɛma anaasɛ wɔyɛ boseabɔ/amanaman ntam ahyehyɛde. Wɔma wɔn a wɔde wɔn ho hyɛ mu kuw yi kwan ma wodi gua wɔ Sika ɔfã no mu mfa nyɛ nkitahodi:
- wɔ n’ankasa ananmu ne n’ankasa sika so;
- a ɛkyerɛ nea ɔyɛ clearing broker no.
Sɛnea Fata ho Mmara no mu nsɛm kyerɛ no, wobetumi ama wɔn a wɔde wɔn ho bɛhyɛ mu no kwan ma wɔadi gua wɔ gua so fã biako anaa nea ɛboro saa mu prɛko pɛ, a ɔfã biako anaa abien ka ho wɔ ɔfã biako mu.
Wobetumi ahu mmara a ɛfa agyede ho
wɔ ha .
Nsesa ne clearing ho ka
Wogye saa sika abien yi nyinaa wɔ daakye ne margin apam ahorow ho, na wogye sika a wɔde sesa nneɛma nso wɔ scalping aguadi ahorow ho.
Ka a wɔbɔ wɔ daakye apam ahorow ho
Wɔbu sika dodoɔ a wɔde bɛsesa sika (akatua) a wɔde di dwuma wɔ ahyɛdeɛ a ɛnyɛ botaeɛ anaa botaeɛ a wɔde asi wɔn ani so ama daakye ho akontaa sɛdeɛ ɛdidi soɔ yi:
FutFee = Round (Round (abs(FutPrice) * Round(W(f)/R(f);5) ;2) * BaseFutFee a ɛwɔ hɔ;2) .
FutFee ≥ 0.01 a wɔde hyɛ mu.
Wɔde formula values no decoding no akyerɛ wɔ table no mu:
Din | Decryption a wɔde kyerɛkyerɛ mu |
footfee a wɔde tua ho ka | Sɛnea commission a wɔde di gua daakye (wɔ rubles mu) no kɛse. |
Kurukuruwa | Dwumadi a wɔasisi mu a n’adwuma ne sɛ wɔde pɛpɛɛpɛyɛ a wɔde ama no bɛbɔ akontaahyɛde bi kurukuruwa. |
abs | Dwumadie a wɔde bu boɔ a ɛyɛ pɛpɛɛpɛ (nɔma yi nni nsɛnkyerɛnneɛ). |
W(f) na . | Bo a ɛsom bo a ɛba fam sen biara anammɔn, a wɔkyerɛ sɛnea daakye a ɛne no hyia (wɔ rubles mu). |
R(f) na . | Bo a ɛba fam koraa a wɔde tu kwan, a wɔkyerɛ sɛnea daakye a ɛne no hyia no te. |
BaseFutFee a ɛwɔ hɔ | Daakye nneɛma a wɔde bɛkɔ no ho sika a wɔde sesa nneɛma a wɔde di dwuma ma Apam Kuw a ɛka ho no:
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Nan Boɔ | Daakye boɔ no boɔ, a wɔakyerɛ sɛdeɛ nkyekyɛmu 3.4.2-3.4.3 a ɛwɔ krataa yi mu kyerɛ (wɔ susudua a wɔakyerɛ wɔ wɔn boɔ mu berɛ a wɔrekra). |
Fee ma margin a egyina apam ahorow so
Margin yɛ nsonsonoe a ɛda bo ne ɛka ntam (a ɛne mfaso ho adwene no di nsɛ). Na margined options yɛ adwumayɛ a ɛfa options aguadi ho, a sika biara nni mu wɔ adetɔfo ne adetɔnfo nyinaa akontaabu mu, na mmom wɔde ahobammɔ dodow no nyinaa sie wɔ wɔn a wɔde wɔn ho hyɛɛ asɛm no mu no aguadi akontaabu mu.
Fa fomula a edidi so yi bu sika a wɔde bɛsesa sika a wɔde bɛma wɔ margined option apam ahorow a egyina ahyɛde ahorow a wɔmfa wɔn ani nsi so anaasɛ wɔde wɔn ani asi so so no ho akontaa:
OptFee = Round (min [(FutFee * K); Round(Premium * Round(W(o)/R(o)) ;5) ; 2) * BaseFutFee] ;2) Ɔkwan a wɔfa so yɛ no.
OptFee ≥ 0.01 a wɔde hyɛ mu.
Wɔde formula values no decoding no akyerɛ wɔ table no mu:
Din | Decryption a wɔde kyerɛkyerɛ mu |
Opt Ka a Wotua | Commission dodow (wɔ rubles mu) a wɔde yɛ apam. |
Kurukuruwa | Nkyekyɛm bi wɔ ɔfã ketewa a atwam no mu. |
footfee a wɔde tua ho ka | Commission sika (wɔ rubles mu) ma daakye aguadi. |
Ntetohɔ | Boɔ a ɛwɔ option premium no so (wɔ susudua a wɔakyerɛ wɔ ahyɛdeɛ a ɛfa option boɔ no ho). |
W(o) . | Bo a ɛba fam anammɔn no kɛse (wɔ rubles mu). |
R(o) na . | Minimum bo a wɔde tu kwan. |
BaseFutFee a ɛwɔ hɔ | Botae a ɛwɔ base rate a wɔde wie option no yɛ 0.06325 (exchange). Mfaso a wɔabu ho akontaa a wɔde wie no yɛ 0.04675 (a wɔreyɛ no yiye). |
Kɔ | Nkyekyɛm foforo: K=2. |
Ka a wɔbɔ wɔ scalping aguadi ho
Scalping daakye aguadi yɛ aguadi a egyina ahyɛde ahorow a wɔmfa wɔn ani nsi so so. Wɔma wobue daakye gyinabea ahorow na wɔto mu wɔ aguadi bere biako mu. Nsɛm pii fa nnwinnade a wɔde yɛ saa nkitahodi ahorow yi ho wɔ pon no so:
Din | Nkyerɛase ahorow | Ka a wɔbɔ ho ka |
Daakye a ɛbɛba | Forward nnwuma a wɔyɛ no gyina ahyɛde ahorow a ɛnyɛ botae so, ɛma wobue na wɔto gyinabea ahorow wɔ daakye mu wɔ aguadi bere biako mu. | 0.5 wɔ sika a wɔde sesa nneɛma nyinaa mu wɔ scalping aguadi ho. |
Nneɛma a wubetumi apaw | Nkitahodi a wɔde kɔ anim a wogyina ahyɛde ahorow a ɛnyɛ nea wɔde asi wɔn ani so so yɛ, sɛ wɔde option no di dwuma wɔ aguadi bere biako mu (ɛmfa ho bo a ɛsom) a, ɛma wobue gyinabea ahorow a ɛne ne ho bɔ abira. Adetɔ a wɔpaw sɛ wobɛtɔ (Frɛ) ne adetɔn – a wobɛtɔn (Put) no betumi ama wɔabue gyinabea tenten wɔ daakye mu. Call Options a wobɛtɔn ne Put Options a wobɛtɔ no bɛma woanya daakye gyinabea tiawa. Nneɛma a wobetumi apaw ama scalping pairs:
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Wɔde nsusuwii ahorow a edidi so yi na ebu commission a wɔde bɛyɛ scalping aguadi ahorow a wɔde options di dwuma no nyinaa ho akontaa:
- Ka = (OptFee (1) + OptFee (2)) * K → sɛ OptFee (1) = OptFee (2);
- Fee = 2 * OptFee (1) * K + (OptFee (2) – OptFee (1)) → sɛ OptFee (1) < OptFee (2);
- Fee = 2 * OptFee(2) * K + (OptFee(1) – OptFee(2)) → sɛ OptFee(1) > OptFee(2) a.
Wɔde nkyerɛkyerɛmu a ɛwɔ nsusuwii ahorow no mu no akyerɛ wɔ pon no so:
Din | Decryption a wɔde kyerɛkyerɛ mu |
Sikatua | Total exchange commission ma scalping oprehyɛn (wɔ rubles mu). |
Opt Ka(1) . | Nneɛma a wɔbɔ wɔ aguadi bere biako mu a wobetumi apaw a ɛbɛma wɔabue daakye, a wɔabu akontaa sɛnea ɔfã ketewa “Fee for margin-based contracts” kyerɛ no nyinaa. |
Opt Ka(2) . | Nneɛma a wɔde tua ho ka nyinaa ma nnwuma a wɔyɛ wɔ aguadi bere no mu …, a ɛde daakye a wɔbɛto mu, a wɔabu ho akontaa sɛnea ɔfã ketewa “Ka … a egyina margin so” kyerɛ no. |
Kɔ | Ade a ɛyɛ 0.5 bere nyinaa. |
Kalenda a Wɔtrɛw mu no ho ka
Calendar Spread – Adetɔ ne tɔn daakye a ɛsono maturities a egyina spread ahyɛde so bere koro mu.
Wɔkyerɛ sika dodow a wobetua wɔ aguadi bere biara mu ma clearing register no fã biara a egyina sika dodow a wotua fi daakye asɛm biara mu a egyina “Calendar Spread” ahyɛde ahorow a wɔmfa wɔn ani nsi so anaasɛ wɔde wɔn ani asi so so. Wɔyɛ akontabuo no sɛdeɛ nsusuiɛ a ɛdidi soɔ yi teɛ:
FeeCS = ΣFutFeeCS * (1 – K) Nkyerɛaseɛ a ɛfa nsusuiɛ no botaeɛ ho no wɔde akyerɛ wɔ pon no so:
Edin ahorow | Decryption a wɔde kyerɛkyerɛ mu |
FeeCS a wɔde ma | Fee (wɔ rubles mu) a Calendar Spread a egyina no-target ahyɛde ahorow so wɔ aguadi bere biako mu. |
Kɔ | Nneɛma a wɔatew so a etu mpɔn wɔ aguadi bere no mu, a ɛyɛ 0.2. Saa bere yi a efi ase fi aguadi da a edi kan no yɛ asram asia. Wɔ saa bere yi mu no, wubetumi agyina ahyɛde ahorow a wɔmfa nsi w’ani so so awie daakye. Wɔ bere no awiei no, wɔmfa sika a wɔatew so no nni dwuma (ɛha na ɛyɛ = 0). |
ΣFutFeeCS na ɛwɔ hɔ | Wɔbu sika a wɔbɔ wɔ daakye nkitahodi ho (wɔ rubles mu) a wogye wɔ Kalenda Spread ahyɛde ahorow a wɔmfa wɔn ani nsi so so no ho akontaa sɛnea edidi so yi: FutFeeCS = Round ((Round ((abs FutPrice(1)) + abs(FutPrice(2))) * Round (W( f)/R(f);5)) ;2) * BaseFutFee;2) baabi a:
Wɔ gyinapɛn afoforo ho no, nkyerɛwee bi wɔ atifi hɔ. |
Fomula a wɔde bu sika dodow a wotua ma Calendar Spreads wɔ daakye ho a egyina ahyɛde a wɔde ma “Calendar Spread” apam no wɔ aguadi da no mu no te sɛ nea edidi so yi:
FeeCS = ΣFutFeeCS Wɔde nkyerɛkyerɛmu a ɛfa botae ahorow a wɔde dii dwuma no ho ama dedaw wɔ atifi hɔ wɔ asɛm no mu .
Nneɛma afoforo a wotua
Ntoboa a edidi so yi nso wɔ hɔ:
- Ntoboa a wɔde ma Guarantee Fund no. Ntoboa ketewaa bi a Clearing Members no mu biara betumi de ama wɔ saa sikakorabea yi mu ne ruble ɔpepem 10. PJSC Moscow Exchange krataa a ɛfa ntoboa a ɛte sɛɛ ho – download .
- Clearing commission ne tow ahorow a wɔbɔ. Wobetumi ahu nsusuwii ne ntease ahorow no wɔ nkrataa yi mu:
- Nneɛma a wɔde di gua ho ka. Nwoma a ɛfa “Additional fees …” ho no yɛ nea wɔde ama saa sika yi denam nsakraeɛ no so – hwɛ krataa no . Wɔbɔ ka wɔ nkitahodi ahorow ho:
- a ɛnyɛ adwuma yiye (sɛ obi a ɔtɔn nneɛma anaa obi a ɔretɔ nneɛma no yɛ nnwuma pii, nanso bere koro no ara mu no ɔnyɛ nnwuma kakraa bi a);
- erroneous Flood Control (sɛ dealer anaa client no de error code 9999 yɛ nnwuma a ɛtete saa pii a);
- wɔadi mfomso, nanso ɛsono Nsuyiri Control (sɛ ɔdetɔnfo no anaa n’afɛfo no de mfomso koodu 31, 332, 333, 4103, 3, 14, 50, 0 yɛ nnwuma a ɛtete saa pii a).
Sɛnea ɛbɛyɛ a wubetumi adi gua wɔ Derivatives Market no so no, ɛsɛ sɛ wudi kan te ne nuances no nyinaa ase. Nea ɛka ho ne tow, commissions a wogye fi wɔn ho ne sika a wɔde ma wɔn a wɔde wɔn ho hyɛ saa aguadidan yi mu no.