GMEX Group has signed a joint venture agreement with Hanoi-based FPT Information System (FPT), with their partnership winning the mandate to provide technology, global business and local operational expertise to launch Vietnam’s first derivatives market and fully integrated clearing house.
The Ministry of Finance (MOF) has entrusted the Hanoi Stock Exchange (HNX) and the Vietnam Securities Depository (VSD) to operate the derivative market’s transaction activities.
“The derivatives market is an important step in creating qualitative change for the Vietnamese securities market after a long era of quantitative development,” stated GMEX.
“It will also help investors identify and mitigate risks and diversify into other investment channels. The market participants will include settlement banks, intermediaries and investors from both enterprises and investment funds.”
The new market will facilitate transactions based on stock accounts such as stock indexes, government bonds and shares. The first traded instruments will be share indexes (HNX30 and VN30) and government bonds with five-year terms.
GMEX subsidiary GMEX Technologies with FPT will manage the project to provide a multi-asset, multi-language exchange trading system suite and market surveillance solution to HNX, which will operate the derivatives exchange. The project will deliver a real-time clearing system to VSD, which will operate the clearing house. The target go live date is the fourth quarter of 2016.
GMEX added that the initiative will support functionality for stocks, cash settled index futures, warrants, bonds, commodities, cash- and physically-settled equity futures, cash- and physically-settled bond futures, cash-settled commodity futures, cash-settled interest rate futures, contracts for differences, government bonds, single stocks, non-implied equity index options and non-implied single stock options.
Leaked documents from the UK Home Office proposing that low-skilled EU migrants would be restricted in the UK’s post-Brexit immigration scheme may be more likely to increase automation and off-shoring of labour, rather than increase British wages, industry experts have warned.
The “sad truth” of banking is that many jobs will be automated in the future, Deutsche Bank's chief executive said yesterday. Despite this, a recent survey found that 98% of European workers are optimistic about the changes automation will bring to their workplace.
The dollar failed to recover against other major currencies on Monday following Friday’s disappointing US employment data announcement. This was coupled with ... read more
India's gross domestic product (GDP) growth failed to meet expectations in Q2 as it slumped to 5.7%. However, India's IT industry is thriving. It contributes roughly 10% to the country's GDP and makes up about 25% of exports.