VNE was officially introduced at a ceremony in Ho Chi Minh City on 20th October by the SME Securities Joint Stock Co (SMES) and by Trieu Phong Gold International Joint Stock Co (TPG). VNE will initially trade in Steel, Rubber, and Coffee â some of Vietnamâs biggest exports. It will also provide an additional financial tool for producers and traders to protect themselves against price fluctuation risks.
VNE will utilize Patsystemsâ complete exchange solution when it launches early next year. This will include Patsystemsâ trade matching engine, clearing and settlement platform, pre-trade risk management module and the front-end execution platform. Patsystemsâ exchange solution will facilitate the integration of electronic trading between domestic producers and traders, and provide access to international customers interested in Vietnamâs commodity markets.
Nguyen Duy Phuong, Vietnam Commodity Exchange CEO, said: âThe launch of the Vietnam Commodity Exchange is an important milestone for Vietnam as it provides a new investment channel in Vietnam's commodity markets. We anticipate a successful launch next year as we are well capitalized, have the support of our founding members and have a sound technology partner in Patsystems.â
Barry White, Patsystems Regional Director of Asia Pacific, said: âPatsystems is extremely pleased to be chosen as the technology provider for the VNE. We have seen a great deal of growth in Vietnam in recent times and see the country becoming a key part of Asiaâs continued growth. Patsystemsâ scalable technology â from easily deployable front-ends to open interfaces on the back-end â will allow for seamless access to the exchange. We look forward to working with VNE to build their liquidity.â