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Home ASIA Cambodia

Cambodia Derivative Exchange gets full accreditation for online training

June 27, 2020
in Business, Cambodia, National
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Cambodia Derivative Exchange gets full accreditation for online training
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The Securities and Exchange Commission of Cambodia (SECC) has handed a letter of accreditation to the Cambodia Derivative Exchange Co Ltd (CDX) as the first facilitator for online training arrangements in Cambodia’s derivates market.

The handover was made during the “Partnership Launch of Global Derivatives Training Accessibilities” event on Wednesday presided over by Sou Socheat, director-general of the SECC.

The accreditation is to ensure that Cambodia’s securities market will still keep moving in a sustainable direction even in the time of COVID-19, according to the announcement.

Socheat said that while the market is more risky than other securities markest, having an online training facilitator is a good message for the Cambodia derivatives market.

He said this is a partnership between the SECC and the derivatives operator to provide a training programme to investors who wish to enter the Kingdom’s derivatives market.

“Because when they want to trade derivatives, they need to get the training first and this  will make our market more professional and attract more investors into the Kingdom’s derivatives market,” he said.

According to Socheat, normally the training would be conducted by the SECC and CDX is the first company to obtain a letter of accreditation from the SECC to provided an online training programme. He said the programme will promote Cambodia’s derivatives market both locally and abroad.

“It is good because our market that started with a small value of about $5 million in 2017 had more than $200 million in 2019,” he said adding that as of this June, even though it had faced challenges from COVID-19, the market value has already almost reached the level of whole year of 2019. Socheat said most derivatives trading in Cambodia is in foreign exchanges where operators could provide this global trading platform confidentially.

The market last year attracted more participants such as five central counterparties for the derivatives market, 27 new derivatives brokers, five fund management firms and five trustees that are already licensed by the SECC.

This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.

Tags: CambodiaCambodia Derivative ExchangeCDXSECCSecurities and Exchange Commission of Cambodia
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