I. Governed parties
VSDC’s clearing members include securities companies, commercial banks, and foreign branches of banks which are granted Certificate of qualified provider of clearing and settlement services for derivatives transactions by the State Securities Commission (SSC) and approved to be clearing members by VSDC. Clearing members are:
1. General clearing member who executes clearing and settlement for its derivatives transactions, clients and provides service of derivatives clearing and settlement for non-clearing members and their clients.
2. Direct clearing member who executes clearing and settlement for its derivatives transactions and clients.
 II. Dossiers of clearing member registration
1. Clearing member registration form;
2. Valid copy of the Certificate of qualified provider of clearing and settlement services for derivatives transactions granted by the SSC;
3. Valid copy of the decision on approval of derivatives trading member granted by Stock Exchange (for securities companies);
4. List of Management Board members/Chief Executive Officer in charge with sample of signatures, stamps and at least two (2) staff members in charge of derivatives clearing and settlement activities who hold university degree or higher in economics or finance, or accounting;
5. Valid copy of the documents demonstrating staff’s meeting requirements set out in Sub-clause d, Clause 1, Article 2 of Guideline on clearing members issued with Decision 95/QĐ-VSD dated 23rd March 2017.

III. Process and procedures for registration
Within five (5) business days from the date of receiving the complete and valid dossier, VSDC shall send written notice to relevant institutions informing its in-principle approval to clearing membership. In a case of refusal, VSDC shall provide written notice with justifications.
VSDC shall issue Clearing Member Certificate and sign Contract for entrustment and provision of clearing and settlement services within one (1) business day after the applicant has completed:
1. Making contribution to Clearing fund;
2. Connecting to VSDC’s clearing and settlement system; and
3. Sending VSDC document registering account used for receiving cash collateral withdrawal, settlement, receiving reimbursement of contribution made to clearing fund.