Circular Stipulating the economic-technical characteristics of services in the securities sector of Vietnam Stock Exchange and its subsidiaries, Vietnam Securities Depository and Clearing Corporation and its subsidiaries priced by the State

MINISTRY OF FINANCE
SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness

No.: 34/2026/TT-BTC
Hanoi, March 30, 2026

CIRCULAR
Stipulating the economic-technical characteristics of services in the securities sector of Vietnam Stock Exchange and its subsidiaries, Vietnam Securities Depository and Clearing Corporation and its subsidiaries priced by the State

Pursuant to the Law on Prices No. 16/2023/QH15, amended and supplemented by Law No. 140/2025/QH15;

Pursuant to the Law on Securities No. 54/2019/QH14, amended and supplemented by Law No. 56/2024/QH15;

Pursuant to Decree No. 85/2024/ND-CP of the Government detailing and guiding the implementation of a number of articles of the Law on Prices;

Pursuant to Decree No. 29/2025/ND-CP of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance, amended and supplemented by Decree No. 166/2025/ND-CP;

At the proposal of the Chairman of the State Securities Commission;

The Minister of Finance promulgates a Circular stipulating the economic-technical characteristics of services in the securities sector of Vietnam Stock Exchange and its subsidiaries, Vietnam Securities Depository and Clearing Corporation and its subsidiaries priced by the State.

Article 1. Scope of Adjustment and Subjects of Application

1. This Circular stipulates the economic-technical characteristics of services in the securities sector of Vietnam Stock Exchange and its subsidiaries, Vietnam Securities Depository and Clearing Corporation and its subsidiaries priced by the State.
2. The subjects of application of this Circular include: Vietnam Stock Exchange and its subsidiaries, Vietnam Securities Depository and Clearing Corporation and its subsidiaries, and relevant agencies, organizations, and individuals.

Article 2. Economic-Technical Characteristics of Services in the Securities Sector of Vietnam Stock Exchange and its Subsidiaries, Vietnam Securities Depository and Clearing Corporation and its Subsidiaries Priced by the State
The economic-technical characteristics of services in the securities sector of Vietnam Stock Exchange and its subsidiaries, Vietnam Securities Depository and Clearing Corporation and its subsidiaries priced by the State are stipulated in the Appendix issued together with this Circular.

Article 3. Implementation Provisions

1. This Circular shall take effect from May 15, 2026.
2. The State Securities Commission, the Price Management Department, Vietnam Stock Exchange and its subsidiaries, Vietnam Securities Depository and Clearing Corporation and its subsidiaries, and relevant agencies, organizations, and individuals are responsible for implementing this Circular.

Recipients:

• Central Office and Party Committees;
• Office of the General Secretary;
• Government Office;
• National Assembly Office;
• Office of the President;
• Prime Minister, Deputy Prime Ministers;
• Ministries, ministerial-level agencies, government agencies;
• Central agencies of mass organizations;
• Supreme People's Procuracy;
• Supreme People's Court;
• People's Councils, People's Committees of provinces and centrally-run cities;
• State Audit Office;
• National Assembly Committees;
• Department of Document Inspection and Administrative Violation Management, Ministry of Justice;
• Units under the Ministry of Finance;
• Official Gazette;
• National Legal Database;
• Government Portal;
• Ministry of Finance Portal;
• State Securities Commission Portal;
• Archive: VT, SSC (50b).

FOR THE MINISTER
DEPUTY MINISTER
Tran Quoc Phuong

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Appendix
ECONOMIC-TECHNICAL CHARACTERISTICS OF SERVICES IN THE SECURITIES SECTOR OF VIETNAM STOCK EXCHANGE AND ITS SUBSIDIARIES, VIETNAM SECURITIES DEPOSITORY AND CLEARING CORPORATION AND ITS SUBSIDIARIES PRICED BY THE STATE (Issued together with Circular No. 34/2026/TT-BTC dated March 30, 2026, of the Minister of Finance)

A. Economic-technical characteristics of services in the securities sector of Vietnam Stock Exchange and its subsidiaries priced by the State

No.	Detailed name of service	Basic characteristics of the service
I	Services applied in the underlying securities market
1	Member management	Maintaining the membership status of Vietnam Stock Exchange, ensuring members' rights according to legal regulations and the Stock Exchange's rules, supervising, inspecting, and handling violations by members in maintaining membership registration conditions and complying with obligations according to legal regulations and the Stock Exchange's rules.
2	Listing registration
2.1	Initial listing registration
a	Stocks, corporate bonds, investment fund certificates, debt instruments as stipulated in the Law on Public Debt Management	Receiving and reviewing initial listing registration dossiers for stocks, corporate bonds, investment fund certificates, debt instruments as stipulated in the Law on Public Debt Management; issuing listing approval decisions to the listing registration organization.
b	Covered warrants	Receiving and reviewing initial listing registration dossiers for covered warrants, issuing listing approval decisions to the covered warrant issuer.
2.2	Listing registration change
a	Stocks, corporate bonds, investment fund certificates, debt instruments as stipulated in the Law on Public Debt Management	Receiving and reviewing listing change registration dossiers for stocks, corporate bonds, investment fund certificates (excluding changes due to ETF certificate swap transactions), debt instruments as stipulated in the Law on Public Debt Management; issuing listing change approval decisions to the listed organization, securities investment fund management company with listed fund certificates.
b	Covered warrants	Receiving and reviewing listing change registration dossiers for covered warrants, issuing listing change approval decisions to the covered warrant issuer.
3	Listing management	Managing securities listed on the Stock Exchange, including: tracking, supervising, inspecting compliance with reporting obligations, information disclosure, and other obligations of the listed organization according to legal regulations and the Stock Exchange's rules.
3.1	Stocks	Managing stocks listed on the Stock Exchange.
a	Listing value under 100 billion VND	Managing stocks with a par value listing value under 100 billion VND.
b	Listing value from 100 billion to under 500 billion VND	Managing stocks with a par value listing value from 100 billion to under 500 billion VND.
c	Listing value from 500 billion VND or more	Managing stocks with a par value listing value from 500 billion VND or more.
3.2	Corporate bonds, investment fund certificates (excluding ETF certificates), debt instruments as stipulated in the Law on Public Debt Management	Managing corporate bonds, investment fund certificates (excluding ETF certificates), debt instruments as stipulated in the Law on Public Debt Management listed on the Stock Exchange.
a	Listing value under 80 billion VND	Managing corporate bonds, investment fund certificates (excluding ETF certificates), debt instruments as stipulated in the Law on Public Debt Management with a par value listing value under 80 billion VND.
b	Listing value from 80 billion to under 200 billion VND	Managing corporate bonds, investment fund certificates (excluding ETF certificates), debt instruments as stipulated in the Law on Public Debt Management with a par value listing value from 80 billion to under 200 billion VND.
c	Listing value from 200 billion VND or more	Managing corporate bonds, investment fund certificates (excluding ETF certificates), debt instruments as stipulated in the Law on Public Debt Management with a par value listing value from 200 billion VND or more.
3.3	ETF certificates	Managing ETF certificates listed on the Stock Exchange.
3.4	Covered warrants	Managing covered warrants listed on the Stock Exchange.
4	Trading	Organizing, managing, and operating the trading system for securities (excluding derivatives) traded on the Stock Exchange, including: receiving orders from trading members, checking and processing orders, establishing transactions, confirming transaction results through the system.
4.1	Regular trading	Organizing, managing, and operating the trading system for securities (excluding derivatives).
a	Listed stocks, investment fund certificates (excluding ETF certificates)	Organizing, managing, and operating the trading system for listed stocks, investment fund certificates (excluding ETF certificates).
b	ETF certificates	Organizing, managing, and operating the trading system for ETF certificates.
c	Corporate bonds	Organizing, managing, and operating the trading system for corporate bonds.
d	Debt instruments as stipulated in the Law on Public Debt Management	Organizing, managing, and operating the trading system for regular buy-sell transactions of debt instruments as stipulated in the Law on Public Debt Management.
d	Registered trading stocks (UPCOM)	Organizing, managing, and operating the trading system for registered trading stocks.
e	Covered warrants	Organizing, managing, and operating the trading system for covered warrants.
4.2	Repurchase transactions (repo transactions) of debt instruments as stipulated in the Law on Public Debt Management	Organizing, managing, and operating the trading system for repurchase transactions of debt instruments as stipulated in the Law on Public Debt Management.
a	Term up to 2 days	Organizing, managing, and operating the trading system for repurchase transactions of debt instruments as stipulated in the Law on Public Debt Management with a term up to 2 days.
b	Term from 3 to 14 days	Organizing, managing, and operating the trading system for repurchase transactions of debt instruments as stipulated in the Law on Public Debt Management with a term from 3 to 14 days.
c	Term over 14 days	Organizing, managing, and operating the trading system for repurchase transactions of debt instruments as stipulated in the Law on Public Debt Management with a term over 14 days.
4.3	Sell-and-repurchase transactions of debt instruments as stipulated in the Law on Public Debt Management	Organizing, managing, and operating the trading system for sell-and-repurchase transactions of debt instruments as stipulated in the Law on Public Debt Management.
4.4	Lending and borrowing transactions of debt instruments as stipulated in the Law on Public Debt Management	Organizing, managing, and operating the trading system for lending and borrowing transactions of debt instruments as stipulated in the Law on Public Debt Management.
a	Term up to 2 days	Organizing, managing, and operating the trading system for lending and borrowing transactions of debt instruments as stipulated in the Law on Public Debt Management with a term up to 2 days.
b	Term from 3 to 14 days	Organizing, managing, and operating the trading system for lending and borrowing transactions of debt instruments as stipulated in the Law on Public Debt Management with a term from 3 to 14 days.
c	Term over 14 days	Organizing, managing, and operating the trading system for lending and borrowing transactions of debt instruments as stipulated in the Law on Public Debt Management with a term over 14 days.
5	Online connection
5.1	Initial connection	Receiving and processing initial online trading connection registration dossiers, organizing IT system connection, testing and verifying compliance with online trading connection conditions as stipulated, issuing online trading connection approval decisions.
5.2	Periodic connection maintenance	Maintaining periodic annual online trading connection.
6	Use of terminals	Providing trading software, technical platform for members to connect devices/workstations to enter orders and retrieve information via the Internet or via remote trading channels through a Wide Area Network (WAN) environment.
7	Auction, book-building	Organizing auction and book-building activities for enterprises, organizations, and individuals with shares, capital contributions, and other types of securities to be auctioned or book-built according to legal regulations.
8	Tender for issuance of Government bonds, National Construction Bonds, Government-guaranteed bonds, and local government bonds	Organizing tenders for the issuance of Government bonds, National Construction Bonds, Government-guaranteed bonds, and local government bonds for the State Treasury, organizations issuing Government-guaranteed bonds according to the Law on Public Debt Management, provincial People's Committees issuing local government bonds.
9	Tender for repurchase of Government debt instruments, Government-guaranteed bonds, and local government bonds	Organizing tenders for the repurchase of Government debt instruments, Government-guaranteed bonds, and local government bonds for the State Treasury, organizations issuing Government-guaranteed bonds according to the Law on Public Debt Management, provincial People's Committees issuing local government bonds.
10	Tender for swap of Government debt instruments, Government-guaranteed bonds, and local government bonds	Organizing tenders for the swap of Government debt instruments, Government-guaranteed bonds, and local government bonds for the State Treasury, organizations issuing Government-guaranteed bonds according to the Law on Public Debt Management, provincial People's Committees issuing local government bonds.
II	Services applied in the derivatives securities market
1	Derivatives membership registration	Receiving and processing derivatives membership registration dossiers, issuing derivatives membership approval decisions (trading members, special trading members in the derivatives securities market) for securities companies, commercial banks, foreign bank branches.
2	Derivatives member management	Maintaining the derivatives membership status of Vietnam Stock Exchange, ensuring derivatives members' rights according to legal regulations and the Stock Exchange's rules, supervising, inspecting, and handling violations by derivatives members in maintaining derivatives membership registration conditions and complying with obligations according to legal regulations and the Stock Exchange's rules.
3	Derivatives securities trading	Organizing, managing, and operating the trading system for derivatives securities products traded on the Stock Exchange according to legal regulations and the Stock Exchange's rules, including: receiving orders from trading members, checking and processing orders, establishing transactions, confirming transaction results through the system.

B. Economic-technical characteristics of services in the securities sector of Vietnam Securities Depository and Clearing Corporation (VSDC) and its subsidiaries priced by the State

No.	Detailed Name of Service	Basic Characteristics of Service
I	Services applicable to the underlying securities market
1	Depository Member Management	Maintain depository member status, ensure the rights of depository members according to legal regulations and VSDC's rules, supervise, inspect, and handle violations by depository members in maintaining the conditions for registration as a depository member and complying with obligations according to legal regulations and VSDC's rules.
2	Securities Registration, Partial Securities Deregistration, or Adjustment of Registered Securities Quantity Information
2.1	Initial Securities Registration
a	Securities registration value under 80 billion VND	Receive and process initial securities registration applications for cases where the securities registration value is under 80 billion VND, record information about registered securities (including information about the securities registration organization, securities information, and information about securities holders of the securities registration organization) for centralized management at VSDC. From the time of initial securities registration at VSDC, all information and changes related to registered securities information are monitored and centrally managed by VSDC.
b	Securities registration value from 80 billion VND to under 200 billion VND	Receive and process initial securities registration applications for cases where the securities registration value is from 80 billion VND to under 200 billion VND, record information about registered securities (including information about the securities registration organization, securities information, and information about securities holders of the securities registration organization) for centralized management at VSDC. From the time of initial securities registration at VSDC, all information and changes related to registered securities information are monitored and centrally managed by VSDC.
c	Securities registration value from 200 billion VND or more	Receive and process initial securities registration applications for cases where the securities registration value is from 200 billion VND or more, record information about registered securities (including information about the securities registration organization, securities information, and information about securities holders of the securities registration organization) for centralized management at VSDC. From the time of initial securities registration at VSDC, all information and changes related to registered securities information are monitored and centrally managed by VSDC.
2.2	Supplementary Securities Registration, Partial Securities Deregistration, or Adjustment of Registered Securities Quantity Information
a	Stocks, corporate bonds, investment fund certificates (excluding ETF certificates)	Receive and process applications for supplementary securities registration, partial securities deregistration, or adjustment of registered securities quantity information for stocks, corporate bonds, investment fund certificates (excluding ETF certificates); record increases/decreases in securities quantity and account for increases/decreases in detail to securities holders' accounts at VSDC.
b	ETF Certificates	Based on the results of the exchange of underlying securities portfolios between the ETF and investors, adjust the registered quantity information of ETF certificates due to supplementary issuance or partial deregistration; record increases/decreases in the quantity of ETF certificates and underlying securities in detail to securities holders' accounts at VSDC.
c	Covered Warrants	Receive and process applications for adjusting the registered quantity information of covered warrants, record increases/decreases in the quantity of covered warrants and account for increases/decreases in detail to securities holders' accounts at VSDC, and the proprietary trading accounts of covered warrant registration organizations at VSDC.
3	Securities Custody
a	Stocks, fund certificates, covered warrants	Manage and hold stocks, fund certificates, and covered warrants in investors' accounts at the request of depository members.
b	Corporate bonds	Manage and hold corporate bonds in investors' accounts at the request of depository members.
c	Debt instruments as stipulated in the Law on Public Debt Management	Manage and hold debt instruments as stipulated in the Law on Public Debt Management in investors' accounts at the request of depository members.
4	Securities Transfer
4.1	Securities transfer between investor accounts at different depository members	Transfer deposited securities (securities transfer or securities and rights transfer) of an investor from an account opened at one depository member to an account of the same investor opened at another depository member at the investor's request through the depository member.
4.2	Securities transfer for settlement	Transfer securities from the seller's depository account to the buyer's depository account based on transaction results and clearing results, determining securities transaction settlement obligations.
5	Corporate Actions
a	Under 500 investors	Receive corporate action applications for under 500 investors from the securities registration organization, disclose market information about the record date for compiling the list of securities holders entitled to rights, coordinate with depository members to compile the list of securities holders entitled to rights. Calculate and allocate rights to holders according to the list of securities holders entitled to rights.
b	From 500 investors to under 1,000 investors	Receive corporate action applications for from 500 investors to under 1,000 investors from the securities registration organization, disclose market information about the record date for compiling the list of securities holders entitled to rights, coordinate with depository members to compile the list of securities holders entitled to rights. Calculate and allocate rights to holders according to the list of securities holders entitled to rights.
c	From 1,000 investors to 5,000 investors	Receive corporate action applications for from 1,000 investors to 5,000 investors from the securities registration organization, disclose market information about the record date for compiling the list of securities holders entitled to rights, coordinate with depository members to compile the list of securities holders entitled to rights. Calculate and allocate rights to holders according to the list of securities holders entitled to rights.
d	Over 5,000 investors	Receive corporate action applications for over 5,000 investors from the securities registration organization, disclose market information about the record date for compiling the list of securities holders entitled to rights, coordinate with depository members to compile the list of securities holders entitled to rights. Calculate and allocate rights to holders according to the list of securities holders entitled to rights.
6	Post-trade Error Handling
a	Post-trade error correction	Adjust erroneous transactions to the proprietary trading accounts of depository members, clearing members.
b	Handling transactions with delayed settlement	Determine the value, quantity of securities, money, and counterparty for delayed settlement and adjust the settlement method and time according to regulations.
c	Handling proprietary trading errors	Adjust to the correct proprietary trading account number of the trading member.
d	Cash settlement	Transactions lacking securities for settlement, which are required by law to be converted to cash settlement, shall be settled in cash instead of securities transfer.
7	Transfer of securities ownership outside the Stock Exchange trading system
7.1	Transfer of shares by founding shareholders during the restricted transfer period as stipulated by law	Receive applications for transfer of shares by founding shareholders during the restricted transfer period as stipulated by law. Verify the validity of the application, record ownership information of the transferring parties in the consolidated securities holder register managed by VSDC, and notify relevant parties.
7.2	Transfer of ownership of securities centrally registered at VSDC approved by the State Securities Commission	Receive applications for transfer of ownership of securities centrally registered at VSDC approved by the State Securities Commission. Verify the validity of the application, record ownership information of the transferring parties in the consolidated securities holder register managed by VSDC, and notify relevant parties.
7.3	Transfer of ownership of privately issued corporate bonds registered at VSDC but not subject to trading on the Stock Exchange	Receive applications for transfer of ownership of privately issued corporate bonds registered at VSDC but not subject to trading on the Stock Exchange. Verify the validity of the application, record ownership information of the transferring parties in the consolidated securities holder register managed by VSDC, and notify relevant parties.
7.4	Transfer of securities ownership due to enterprise division, separation, consolidation, merger; capital contribution by shares to enterprises (including cases approved by the State Securities Commission for enterprise division, separation, consolidation, merger, capital contribution by shares to enterprises of organizations established abroad); establishment, increase of charter capital of private securities investment companies; increase, decrease of charter capital of member funds	Receive applications for transfer of securities ownership due to enterprise division, separation, consolidation, merger, capital contribution by shares to enterprises of organizations established abroad; establishment, increase of charter capital of private securities investment companies; increase, decrease of charter capital of member funds. Verify the validity of the application, record ownership information of the transferring parties in the consolidated securities holder register managed by VSDC, and notify relevant parties.
7.5	Transfer of securities ownership due to handling of collateral that are securities registered and frozen at VSDC	Receive applications for transfer of securities ownership due to handling of collateral that are securities registered and frozen at VSDC. Verify the validity of the application, record ownership information of the transferring parties in the consolidated securities holder register managed by VSDC, and notify relevant parties.
7.6	Gift, inheritance of securities according to the provisions of the Civil Code	Receive applications for transfer of securities ownership due to gift or inheritance of securities according to the provisions of the Civil Code. Verify the validity of the application, record ownership information of the transferring parties in the consolidated securities holder register managed by VSDC, and notify relevant parties.
7.7	Transfer of ownership due to public tender offer	Receive applications for transfer of securities ownership due to public tender offer. Verify the validity of the application, record ownership information of the transferring parties in the consolidated securities holder register managed by VSDC, and notify relevant parties.
7.8	Transfer of securities ownership in ETF certificate exchange transactions, exercise of covered warrants	Receive and process applications/transactions for ETF certificate exchange to transfer ownership of underlying securities between the ETF and investors. Receive and process applications/transactions for exercising covered warrants to transfer ownership of underlying securities between the covered warrant registration organization and investors (in cases where covered warrants are exercised by transferring underlying securities).
7.9	Transfer of share ownership between foreign investors when the maximum foreign ownership ratio for that share has been reached and the agreed price between the parties is higher than the ceiling price of the share on the securities trading system at the time of the transaction	Receive applications for transfer of share ownership between foreign investors when the maximum foreign ownership ratio for that share has been reached and the agreed price between the parties is higher than the ceiling price of the share on the securities trading system at the time of the transaction. Verify the validity of the application, record ownership information of the transferring parties in the consolidated securities holder register managed by VSDC, and notify relevant parties.
7.10	Transfer of securities ownership for issuing or canceling depository receipts in transactions between investors and foreign depository receipt issuers	Receive applications for transfer of securities ownership for issuing or canceling depository receipts in transactions between investors and foreign depository receipt issuers. Verify the validity of the application, record ownership information of the transferring parties in the consolidated securities holder register managed by VSDC, and notify relevant parties.
7.11	Transfer of ownership of securities registered at VSDC as assets used to pay principal and interest of matured bonds due to privately issued bond enterprises being unable to fully and timely pay bond principal and interest in cash	Receive applications for transfer of ownership of securities registered at VSDC as assets used to pay principal and interest of matured bonds due to privately issued bond enterprises being unable to fully and timely pay bond principal and interest in cash. Verify the validity of the application, record ownership information of the transferring parties in the consolidated securities holder register managed by VSDC, and notify relevant parties.
8	Securities Lending and Borrowing through VSDC system
8.1	Management of securities lending and borrowing transactions	Monitor and manage securities lending and borrowing transactions of depository members (loan establishment, transfer of borrowed securities, loan valuation, handling of defaulted loans, etc.).
8.2	Collateral management	Monitor and manage collateral for securities lending and borrowing transactions of depository members (collateral freezing, daily valuation, addition/replacement/withdrawal of collateral, etc.).
9	Payment of principal, interest, and redemption money for Government bonds, National Construction Bonds, Government-guaranteed bonds, and local government bonds	Make payments of principal, interest, and redemption money for Government bonds, National Construction Bonds, Government-guaranteed bonds, and local government bonds to holders of Government bonds, National Construction Bonds, Government-guaranteed bonds, and local government bonds.
10	Payment of principal, interest, and redemption money for treasury bills	Make payments of principal, interest, and redemption money for treasury bills to holders of treasury bills.
11	Registration of security interests for securities registered at VSDC
11.1	Registration of security interests
a	Initial registration of secured transactions and freezing of securities	Register security interests for securities registered at VSDC, and simultaneously freeze securities used as collateral in the account of the secured party.
b	Registration of changes to registered secured transaction content	Register changes, correct errors in registered security interest information at the request of the parties, and simultaneously freeze or unfreeze securities used as collateral in the account of the secured party according to the changed content (if any).
c	Registration of notice of collateral handling	Publicly register notices of collateral handling for parties if requested.
d	Deregistration of secured transactions	Deregister security interests at the request of the parties, and simultaneously unfreeze securities used as collateral in the account of the secured party.
đ	Issuance of certified copy of secured transaction registration content	Issue certified copies of security interest registration content at the request of organizations or individuals.
11.2	Provision of information on secured transactions	Provide information on securities registered with security interests at VSDC at the request of organizations, individuals, or competent state agencies.
12	Freezing securities at investor's request	Freeze or unfreeze investor's securities upon the investor's request sent to VSDC through the depository member where the investor has deposited securities for freezing or unfreezing.
13	Clearing Member Registration	Receive and process applications for becoming a clearing member, issue Clearing Member Certificates to securities companies, commercial banks, and foreign bank branches.
14	Clearing Member Management	Maintain clearing member status, ensure the rights of clearing members according to legal regulations and VSDC's rules, supervise, inspect, and handle violations by clearing members in maintaining the conditions for registration as a clearing member and complying with obligations according to legal regulations and VSDC's rules.
15	Clearing	Margin, reconciliation, confirmation of transaction results, error handling, transaction novation, clearing, determination of settlement obligations, and risk management related to securities transactions.
II	Services applicable to the derivative securities market
1	Derivative Securities Clearing Member Registration	Receive and process applications for becoming a derivative securities clearing member, issue Derivative Securities Clearing Member Certificates to securities companies, commercial banks, and foreign bank branches.
2	Derivative Securities Clearing Member Management	Maintain derivative securities clearing member status, ensure the rights of derivative securities clearing members according to legal regulations and VSDC's rules, supervise, inspect, and handle violations by derivative securities clearing members in maintaining the conditions for registration as a derivative securities clearing member and complying with obligations according to legal regulations and VSDC's rules.
3	Derivative Securities Clearing	Margin, reconciliation, confirmation of transaction results, error handling, transaction novation, clearing, determination of settlement obligations, and risk management related to derivative securities transactions.
4	Margin Asset Management	Store, monitor, value, and manage the use of margin assets (including cash, securities) submitted by derivative securities clearing members.
5	Post-trade Error Correction for Derivative Securities	Adjust erroneous transactions (missing account information, matched quantity larger than the opposing position quantity in a suspended trading account) to the correct customer account after completing account information updates, and to the proprietary trading account of the derivative securities clearing member that placed the order.