SECC and CDX Join Hands to Raise Public Understanding about Potential of Derivatives Market

SECC and CDX Join Hands to Raise Public Understanding about Potential of Derivatives Market

On June 15, 2018 at Sofitel Phnom Penh Phokeethra, Securities and Exchange Commission of Cambodia(SECC) and Cambodian Derivatives Exchange Co., Ltd. (CDX) co-organized a large scale forum on “ Potential of Derivatives Market In Cambodia‘s Financial Sector”, which was presided over by SECC’s Director General H.E Mr. Sou Socheat. Also, there were many SECC’s high-ranking officials, CDX’s top management, experienced derivatives market players, international financial experts, diversified business leaders, and lots of press and media reporters, together forming up a multitude of people in this event with an aim to provide insights of derivatives market, to raise the awareness of how potential derivatives market is for Cambodia’s economic development, and to highlight the investment opportunities for local and foreign investors.

Invited as a guest speaker, Mr. Stephanus Paulus Lumintang, President Director of Jakarta Futures Exchange (JFX), showed his pleasure and gave his welcome remarks, mentioning that Cambodia’s derivatives market has evolved fast since his first arrival in this country.

Mr. Lawrence Kook, Director of CDX, was then invited on stage, giving a short but meaningful speech including CDX’s commitments in continuously supporting SECC’s missions, providing financial education to the public, and bringing international derivatives market players to Cambodia, which will gradually create a golden era of Cambodia’s derivatives market. Mr. Lawrence also thanked SECC for making this forum happen and thanked all guest speakers for their efforts in bolstering the public understanding of derivatives trading before he went on to commit himself to the development of this sector in Cambodia.

The forum’s VIP guest speaker H.E. Mr. Sou Socheat showed his thoughts about this huge event and welcomed the participation of international professionals and potential investment from overseas. He also expected that, with active involvement from regulated market players including central counterparty entities and derivative brokers as well as friendly-investment environment, Cambodia’s derivatives trading should have a bright future.

In this auspicious occasion, CDX and JFX celebrated their remarkable cooperation with Dr. Sammy So and Mr. Stephanus, CEO of CDX and President Director of JFX respectively, officially signing a Memorandum of Understanding (MOU) on business collaboration profoundly witnessed by all the VIPs, honored guests, and participants, especially governmental regulators and well-known global professionals. The MOU signing created another milestone of Cambodia’s financial sector and would lay a solid foundation for accelerating and standardizing the regulated financial market in this nation.

Dr. Sammy expressed his delight at the MOU signing and strongly believe that it will enable both financial powerhouses to work hand in hand, to share experience and expertise, to achieve common goals, and especially to work for the fair and transparent trading practices. He also showcased CDX’s ambition in making more alliances in order to bring world-class sophisticated technology and sufficient support to Cambodia’s Derivatives market.

There was then a comprehensive panel discussion about “Local Opportunities for international Players” with Mr. Jonathan Barrat, Director of Goldstar LP Pty Ltd. being the moderator along with six professional panelists including Mr. Stephanus, Mr.Will Robbins (Head of Asia in IS Prime), Mr. Iwan (Head of Operations at PT Mentari Mulia Berjangka), Mr. Hawk Cheng (Chief Advisor of Golden FX Link Capital) and Mr. Michael Nen (CEO of Sky Precious Metal). The discussion was well conducted in a lively manner, bringing about in-depth analysis of the prospective of derivatives market in Cambodia while exposing great investment chances, provided that Cambodia’s financial status is showing positive and significant growth with numerous commercial banks and financial institutions continuing to bloom in the territory. Thus, it was expected that many more investors would influx to Cambodia in the very near future.

All participants enjoyed the fruitful afternoon, witnessing the large-scale literacy forum and being left with knowledge and investment mindset. Building on this outcome, SECC and CDX promised to provide thorough, extensive education to the public through upcoming forums, seminars, workshops, and training for the betterment of derivatives market as well as to unleash the hidden potential of this emerging market in Cambodia’s financial sector.