The Hanoi Stock Exchange (HNX) said the legal, regulatory and procedural frameworks which ensure the operation of derivatives was issued. However, supervision frameworks for those derivatives have not been approved yet.

However, as a highly leveraged and risky market as the derivative stock market, in addition to regulatory and procedural frameworks, the supervision frameworks is subject to the approval of the State Securities Commission (SSC). Representatives of the HNX told reporters that the supervision rule will basically be similar to the stock market currently operating, aiming to supervise price manipulation behaviors.

The tax calculation for derivatives is also waiting for guides from the Ministry of Finance.

Thus, legal gaps for the derivatives market remain, even if the technical infrastructure of derivative market is ready for the test.

(BW’s summary)

Source: http://www.thesaigontimes.vn