Vietnam First Commodity Exchange Opens Jan 11
Vietnam’s first commodity exchange service with a total registered capital of VND150 billion ($7.5 million) was opened in the southern economic hub of Ho Chi Minh City January 11.
Coffee, rubber and steel products are the main commodities transacted at the facility.
All commodities transacted at the service must meet quality standard and their prices will be decided on the basis of public auctions.
The new office includes a transaction floor, payment center, product verification and exchange center.
The operation of the service is expected to provide traders with information of domestic and international markets and establishing links with other local and global commodity exchange floors.
Earlier, in December 2010, Saigon Thuong Tin Commercial JS Bank, or Sacombank (STB) launched a commodity trading floor (Sacom-STE) in HCM City, which initially traded steel. (
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