The bank is developing derivative products aggressively.

Experts believe that improving the infrastructure for derivatives trading and expanding price hedging tools presents an opportunity for banks to broaden their role from providing capital to offering risk management solutions for corporate clients.

We need to be more open to the decentralized market.

According to the Ministry of Industry and Trade , the derivatives market in Vietnam has seen positive development in recent years. The trading volume through the Vietnam Commodity Exchange (MXV) is projected to reach approximately 1.54 million contracts by the end of 2025, with a total transaction value exceeding 1.9 trillion VND.

Besides centralized trading via MXV, the over-the-counter (OTC) market offered by commercial banks is also gradually expanding. Currently, the entire market has about 10-12 commercial banks providing commodity price derivatives to corporate clients. This is the main access channel for many businesses to price hedging tools in the international market.

Observations show that many banks are now participating in the derivatives market through products such as futures contracts, options, commodity price swaps, etc., along with solutions for managing cash flow and financial risks.

In the business strategies of major banks such as Vietcombank, BIDV , and Techcombank, foreign exchange, cash flow management, trade finance, and supply chain finance are all systematically invested in and increasingly contribute to non-interest income. Furthermore, the banking system's capacity to handle financial instruments and manage market risks has significantly improved. Financial reports from many banks, such as BIDV, MB, and VietinBank, show that the size of their proprietary trading and capital business portfolios has now reached trillions of VND.

According to the Vietnam Chamber of Commerce and Industry (VCCI), commercial banks are now not only providers of products but also play a leading role in helping domestic businesses access hedging tools in the context of the current volatile international market. However, VCCI also notes that one of the biggest obstacles currently lies in the legal framework.

The Ministry of Industry and Trade is currently developing a plan for the development of the commodity derivatives trading market for the period 2026-2030. Based on the draft, it is necessary to clarify the relationship between the centralized trading market via the Central Bank of Vietnam (MXV) and the OTC market provided by banks. According to the Vietnam Chamber of Commerce and Industry (VCCI), it is also necessary to clearly define how OTC transactions will be managed when the domestic market expands. Will there be a shift to centralized trading? What mechanisms for transaction reporting, clearing, and risk monitoring will be designed?

Experts at VCCI believe this is a crucial issue because policies that overly favor a centralized market could reduce the flexibility of OTC transactions, which are already quite effective in meeting the specific risk hedging needs of businesses. Conversely, without appropriate supervisory mechanisms, the market will struggle to develop in a transparent and sustainable direction.

In addition, some economic experts suggest that the plan should study mechanisms for accepting bank guarantees, warehouse documents, or government bonds as collateral instead of cash. This would reduce capital pressure on businesses and open up the possibility of developing new financial services related to price hedging activities for commercial banks.

Centralized trading markets will facilitate further development.

A great opportunity arising from the demand for price hedging.

According to economic experts, recent shocks in energy prices, impacts on input materials, increased logistics costs, exchange rate fluctuations, etc., have directly affected the production and business performance of import and export enterprises. Therefore, the commodity derivatives market can become a "buffer" to help businesses in various sectors more effectively protect themselves against price risks.

Mr. Tran Huu Linh, Director of the Department of Domestic Market Management and Development - Ministry of Industry and Trade, believes that the need for price risk management is not only present in agricultural businesses such as coffee, pepper, rubber, or rice, but also extends to many other sectors such as energy, animal feed, industrial raw materials, metals, and logistics. Through this, commercial banks can develop supporting financial services for the market.

Sharing the same view, Dr. Dinh The Hien, a financial and economic expert, believes that while banks previously mainly provided working capital, trade finance, or individual foreign exchange products, they can now develop more comprehensive solution packages for businesses.

"A coffee exporting or raw material importing business today needs not only capital but also simultaneous management of risks related to commodity prices, exchange rates, cash flow, and liquidity. This creates a demand for more integrated financial risk management services," Mr. Hien commented.

According to experts, the plan to develop the derivatives trading market, if finalized soon, should facilitate the development of both the centralized and OTC markets. In the period 2026-2030, international payments, foreign exchange, trade finance, and cash flow management by commercial banks will become crucial links in the price hedging ecosystem.

However, the technical specifics of the derivatives market, regulations related to margin trading, clearing and settlement, accounting, taxation, and foreign exchange management also need to be reviewed comprehensively to reduce market participation costs for businesses. From the perspective of commercial banks, the strong development of the commodity derivatives market will create a new business space to increase service revenue. Simultaneously, it will gradually shift the role of banks from traditional capital providers to offering comprehensive risk management solutions for corporate clients.

Source: https://thoibaonganhang.vn/ngan-hang-phat-trien-manh-cac-san-phai-sinh-182899.html