| dc.description.abstract | Vietnam has announced that the financial derivatives market will be launched
in 2016, with the goal of full integration with international practices after 2020. Because
of this market’s sophistication, it requires a rigorous preparation in advance, in order to
successfully operate in the market. This study is conducted as a qualitative research with
the purpose of drawing some lessons from the region’s experiences and suggesting
noteworthy considerations for the establishment of financial derivatives market in
Vietnam. Korea, Hong Kong, China and Malaysia are four countries in region which is
selected for the derivatives market reference. The in-depth interview method was applied
to approach the thoughts and opinions of experts in industry. The respondents were
selectively chosen from financial institutions and financial universities that have practical
experiences and academic knowledge about derivatives and derivatives market. The
interviews are completely conducted by face-to-face talks which are recorded as audio file
or note paper. The collected data then will be processed, coded and used in a comparison
with the literature reviews. As a result, from the region’s experiences and the status quo of
Vietnam, this study found out three points should be carefully considered for the
establishment of financial derivatives market in Vietnam. Firstly, the stock market which
is the based product of the upcoming derivatives market is still depressed. It might creat
the obstacle for Vietnam to increase the liquidity of derivatives market. Secondly, Vietnam
regulators should speed the legal framework building process up in order to catch up the
plan of operating the derivatives market in 2016. Last but not least, risk management
system should be rigorous preparation to ensure Vietnam derivatives market can be a liquid
and well-regulated market place. | en_US |
