Representing Vietnam, the week-long business trip (December 2-6) of the Vietnam Commodity Exchange (MXV) in Singapore carried out many important tasks, demonstrating the integration and close connection between Vietnam and the world.

The 2024 Asian Derivatives Association (FIA) Conference – a forum that brings together leading figures and organizations in the industry. Along with that, the signing ceremony of the Memorandum of Understanding on strategic cooperation in logistics in commodity trading between MXV and CWT International Logistics Group affirmed that MXV's working trip achieved great success, while also discussing and presenting many important contents in developing the Vietnamese market in the coming year and the future.

Global commodity market integration

The FIA ​​2024 Conference, the most important and largest conference of the derivatives industry in the Asia-Pacific region, took place from December 3 to December 5 in Singapore, bringing together hundreds of experts, leaders of Exchanges and financial and technology companies from all over the world. MXV marked an important milestone as the only representative of Vietnam attending this year's conference, affirming its efforts to integrate internationally and promote the commodity trading market in Vietnam.

FIA 2024 Conference Scene

At the conference, representatives of MXV participated in many important discussion sessions, especially topics related to sustainable development and technology application in the derivatives market. The discussion sessions at the conference not only provided insights into global trends but also provided orientation for the development of the derivatives industry in the region.

One of the notable sessions was “Exchange Evolution: Insights from Industry Leaders”, where experts shared about the development trends of exchanges and predicted a strong transformation of the derivatives market in the Asia-Pacific region in the coming years.

Mr. Nguyen Duc Dung, Deputy General Director of MXV said: “Attending the FIA ​​Conference not only helps us better understand international trends but also facilitates connections with leading strategic partners. International integration is both a goal and a driving force for us to constantly innovate and improve, towards a commodity trading market in Vietnam that reaches the world.”

In addition, international experts emphasized the role of risk management and technology application in building a stable and sustainable derivatives market. This is an opportunity for MXV to study how leading exchanges adapt to digitalization and geopolitical volatility – two factors that will strongly shape the market in the next decade.

MXV, as a pioneer in organizing a national centralized commodity trading market in Vietnam, has clearly identified the importance of applying advanced technology and risk management solutions to its operations. “We always focus on improving technology to not only optimize trading activities but also ensure safety and transparency for investors, creating a premise for the sustainable development of the Vietnamese market,” emphasized Mr. Nguyen Duc Dung.

Strategic direction with logistics and technology

One of the important milestones during MXV's business trip to Singapore was the signing of a Memorandum of Understanding on strategic cooperation with CWT International Logistics Group, a leading partner in the logistics sector. MXV and CWT will cooperate in deploying warehousing and logistics services, serving freight forwarding contracts, creating strong development opportunities for the logistics industry and supply chain in Vietnam.

Mr. Raymond Sha, Executive Vice President of CWT, said: “Logistics and freight forwarding activities in Vietnam still have a lot of potential and room for development. Vietnam has all the elements to become a logistics hub of the region. We are proud to cooperate with MXV, an organization that is constantly innovating and has a strategic vision for the Vietnamese market. The combination of CWT's global network and MXV's understanding of the domestic market will be a big step forward in creating more comprehensive logistics solutions for the Vietnamese market in particular and the Southeast Asian region in general.”

Not only did MXV gain knowledge and experience from international markets, it also used the trip to strengthen and expand its network of strategic partnerships. Working sessions with the Chicago Mercantile Exchange (CME Group), the Singapore Exchange (SGX) and a series of leading financial and technology organizations such as Stone X, Phillip Nova, Synergy Link Capital, CQG and Trading Technologies yielded practical results.

CME Group and SGX are both the world's largest commodity exchanges, playing an important role in MXV's internationalization journey. The meeting between MXV and the two exchanges focused on the strategy for developing the commodity trading market in Vietnam in the period of 2025 - 2030. CME Group and SGX committed to continue supporting MXV in developing new derivative products suitable for the Vietnamese market, improving technology infrastructure, and organizing specialized training programs on commodity trading, opening up opportunities for capacity building for domestic investors.

Ms. Brenna Koh, Director of International Commodities, SGX emphasized: “Vietnam is one of the most potential markets in the region. We believe in long-term cooperation with MXV to develop the Southeast Asian commodity trading market together.”

Ms Brenna Koh, Director of International Commodities, SGX (second from left)

Leading technology partners such as CQG and Trading Technologies also play an important role in MXV's development strategy. The parties discussed how to leverage technology to improve transparency and efficiency in trading. CQG proposed to cooperate in organizing training programs for Vietnamese investors, helping them to familiarize and effectively use advanced trading platforms. Meanwhile, Trading Technologies committed to supporting MXV in optimizing its information technology system, helping to improve trading efficiency and risk management.

“Technology is the key to improving performance and ensuring safety in transactions. We believe that cooperation with international partners will help Vietnam achieve global standards,” Mr. Nguyen Duc Dung added.

The trip also witnessed important discussions with StoneX, Phillip Nova, Synergy Link Capital, leading partners in financial services, famous for their long history as well as international connection network. The partners all expressed their goodwill to support MXV in developing the commodity trading market in Vietnam in an effective and comprehensive manner, especially in the projects of building specialized Exchanges that MXV is implementing.

MXV’s Singapore trip has come to an end, but the achievements will leave a lasting impression. By participating in FIA 2024, strengthening global partnerships and promoting technological cooperation, Vietnam is increasingly asserting its position on the international stage. This is the premise for the commodity trading market in Vietnam to continue to develop stably and sustainably in the future.