Derivatives market to begin in August: Official

The derivatives market will start operations in August as all preparatory activities have been completed, according to officials of the Hanoi Stock Exchange (HNX).


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The derivatives market will start operations in August as all preparatory activities have been completed. 

Nguyen Thi Hoang Lan, vice general director of the northern stock exchange, said on Thursday that the market trading system had been tested and proven operational, synchronised, accurate and punctual.

The connection between the HNX, the Vietnam Securities Depository and brokerages – as market trading members – was proven accurate and thorough, she said.

“The HNX will continue assisting securities companies to review and check the trading system till the last moments, install the trading parameters and get the market ready for an August launch.”

In May and June, the HNX granted market trading membership to six securities companies – Sài Gòn Securities Inc (SSI), HCM City Securities Co (HSC), Viet Capital Securities Co (VCSC), BIDV Securities Co (BSC) and VPBank Securities Co (VPBS), and made Vietinbank the exclusive settlement unit for derivatives trade.

The first derivatives product to be traded in August is the futures contract for the VN30 Index – a sub-index on the HCM Stock Exchange that captures the performance of the 30 largest companies by market capitalisation.

Other products, such as Government bond futures contract, are being studied by the finance ministry and its agencies and will be introduced to the market soon.

The upcoming derivatives market is expected to draw the attention of professional institutional investors who have shown keen interest in Vietnam’s new products, Lan said, adding that brokerages from Japan and South Korea are getting used to the local market’s regulations.

“The VN30 Index futures contract is a good output, which was developed through consultancy with market members and institutional investors, therefore, it should meet investors’ demands in the future,” Lan said. 

VNS



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