FIS develops derivatives market and clearing house

On March 16, Hanoi Stock Exchange (HNX) and the Vietnam Securities Depository (VSD) announced a plan to launch Derivatives market and fully integrated clearing house. FPT IS was selected as the main contractor of the two systems.

FPT Information System (FIS) was the system’s main developer, while the international clearing solution provider GMEX Group provided technology and local operational expertise for the system. The Ministry of Finance (MOF) has entrusted the HNX and the Vietnam Securities Depository (VSD) to operate the derivative market’s transaction activities.

HNX and VSD would announce a connectivity standard system for members in April. Members could test the market in September and October with HNX and VSD, which play the role of market operator and clearing house, before the official launch of the market.  

HNX Board of Management Deputy Chairwoman Nguyen Thi Hoang Lan said that the derivatives market was an important step for the stock market when its structure was formed and completed with many modern solutions including the Central Counterparty Clearing House (CCP).