Hanoi, April 19, 2023 – The Mercantile Exchange of Vietnam (MXV) and Straits Financial held a high-level meeting in Hanoi to discuss the development of the commodities trading market in Vietnam. The meeting marked a significant step forward in the strategic partnership between the two parties, aimed at developing the commodities trading market in Vietnam.
Established in 2010, Straits Financial is a leading Futures Commission Merchant (FCM) that provides integrated services for financial products and derivatives to the global commodities market. Headquartered in Singapore, Straits Financial has representative offices in the United States, China, Indonesia, and Dubai.
The Straits Financial delegation was led by Group CEO, Mr. Jeremy Ang, who previously served as the CEO of the Singapore Commodity Exchange. Drawing on his extensive experience in the financial markets, Mr. Ang shared valuable insights into the development of the commodities trading market, emphasized the rapid growth and potential of the Vietnamese market to become the region’s largest Commodity Exchange.
Mr. Jeremy Ang – CEO of Straits Financial
During the meeting, Straits Financial introduced innovative solutions for structured products and physical delivery according to international standards, designed to enhance the efficiency of commodities trading activities in Vietnam. The also shared cutting-edge technology solutions with MXV’s Transaction Management Division and Information Technology Division, fostering an atmosphere of open, professional, and constructive dialogue.
MXV’s General Director, Mr. Dang Viet Hung, expressed gratitude for the ideas and products presented by Straits Financial, saying, “MXV deeply values the strategic partnership with Straits Financial. Today’s meeting has reinforced our strong relationship and paved the way for extensive collaboration, as we work together to establish Vietnam’s commodities trading market as the largest in Southeast Asia.”
Following the successful meeting, both MXV and Straits Financial have agreed to form working groups to further develop the proposed products. These efforts are expected to benefit not only the commodities trading market but also Vietnam’s raw material import and export industry, ultimately contributing to the nation’s economic and trade integration process.