Rubber Vietnam will be traded on bourse

Rubber trading floor in accordance with the auction method is a method of buying and selling new, innovative, open up another channel for corporate purchases. Also, rubber flooring create a healthy competitive environment, contributing to improving the quality of rubber VN.

                                                                                                                                       Photo: N.K

Buying and selling on the floor

Deputy General Director Le Xuan Hoe VRG said, after a period of preparation, today VRG and commodity Exchanges Vietnam (VNX) and Straits Financial Partners (Singapore) is promoting the establishment of rubber floor by mode of bidding old. It is expected that in 2016 the rubber flooring in operation.

Dr Dinh The Hien - VNX Advisory Board, Rubber Exchange organized by two methods: auction and agreed. Auction method is the trading system implemented match buy and sell orders commands at a specified time.

And methods agreed that the parties will declare the purchase and sale on the website of VNX and self-trading exchange information like e-transactions. Target participants include trading on the manufacturer, the importer, the exporter, consumers, financial institutions, investment goods, farmers ...

"Trading members are businesses that trade in rubber, fulfill the conditions to become a member transactions prescribed by VNX VNX and be recognized as a member transactions. The number of members is limited under the provisions of the VNX in each period. To become a member of the VNX, enterprises have been established and rubber operations a minimum of 2 years as of the date of registration, the minimum charter capital of 5 billion and is committed to full implementation of the regulation, regulations, payment of charges and fees as prescribed by VNX, "Hien said.

Mr. Nguyen Duy Phuong - CEO VNX, said the operation of the rubber Exchange Management Board by exchanges including 6 members of VNX, VRG and Straits Financial. In the first phase, the two products are put on the trading floor is SVR 3L and RSS. Each product category will be specific contract specification. When in operation, the rubber floor will have two sessions each day. According to Deputy General Director Le Xuan Hoe, in the first stage, each unit put on the trading floor at least 10% of the total output of manufactured products.

Regulation standardized product on the floor

Mr. Nguyen Thanh Phung - Export Manager (Company Limited Phu Rieng Rubber), for that rubber trading platform is essential. Besides buying and selling according to traditional methods, the transactions between buyers and sellers floor directly with each other, where the valuation and fairness, creating healthy competition, while contributing to upgrading the quality of products natural rubber. However, he was concerned about the Liturgy of the floor scale.

"If only domestic transactions shall be limited in scope, focusing only commercial sale which does not reach the people who use the product directly. Should open more options to entice customers. The branded business, credibility a long time, need to have the product codes included in a separate transaction to customer choice, "said Phung proposal.

In this regard, the General Director Nguyen Duy Phuong VNX answer participants rubber floor to open, do not control the number and type of investors. However, in each period, the Management Board will decide the admission floor object as a member (such as brokers, financial investors ...).

Also according to Mr. Fang, products put on the trading floor are standard products, to meet the requirements. Therefore, it is imperative the company whose products have not reached standardization, to meet the requirements. Concerning the proposed code of enterprise products for customers to choose, Mr. Fang said rubber Exchange under the auction method will be flexible. There will be 2 trading platform system to meet the needs members. A floor model with the code representation contracts, regulation of products traded and floor models connect supply and demand, to empower members with the contract specification as now expected.

Articles, photos: Binh Nguyen