VIR and VPS launch Virtual Derivatives contest offering real earnings

VIR and VPS announced the Virtual Derivatives contest today

This programme, which runs on the SmartPro virtual investment app developed by VPS will offer players 654 prizes with the total value exceeding VND1.1 billion ($47,800).

The highest prize of VND200 million ($8,700) will be handed over to the best performing user of the year. Prizes will also be given out every week, month, and quarter to the investors with the most successful investment strategies, the largest number of futures contracts made,and lucky draws.

To join this game, investors should download the SmartPro app from Apple Store or Google Play and register an account. Every account will receive an initial investment of VND100 million ($4,350, cannot be exchanged to cash).

During the contest, users will be able to check their ranking on the app. Ranking will be updated in real-time. They could also check the ranking of other players on the app or the website tinnhanhchungkhoan.vn.

Speaking at today's press conference announcing the contest, Le Trong Minh, Editor-in-Chief of VIR cum head of the contest's Organising Board, said: "This programme is not only a contest – it will also include numerous additional activities like sharing knowledge and information on securities in general and derivatives in particular. These are targets that we would like to reach via the programme."

The derivatives market has been developing rapidly during the past two years, but investors have yet to receive formal guidance or training in the field. "Through the Virtual Derivatives programme, VPS would like to provide basic knowledge and improve the necessary skills for investors to become professional financial investors," Pham Thi Thuy, director of the Virtual Derivatives project, said.

VPS is a reputable securities company and is currently the leading derivatives brokerage in Vietnam. Moreover, the company is also one of the four largest stock brokerage companies on the Hanoi Stock Exchange (HNX), UPCoM, and one of the top 10 on the Ho Chi Minh City Stock Exchange (HSX).

"Recently, VPS developed a newfound interest in developing technology and improving the infrastructure for the securities exchange, including the launch of SmartPro as a new convenient app. After one year of putting it into operation, the app has seen a warm welcome by most investors," Thuy said.

The contest is deployed on the SmartPro app of VPS

The virtual derivatives programme will start on August 1, 2019, and end on July 31, 2020.