The launch represents Vietnam’s first electronic marketplace for the trading of VND. Matching trades on a T+1 basis which is the most commonly traded value date.

Vietnam has had a remarkable growth and development story over the past 30 years. Economic and political reforms under Đổi Mới launched in 1986, have laid the groundwork for growth that averaged 6.6 percent per annum during 2014-18, reaching a 10 year high of 7.1 percent in 2018, according to the International Monetary Fund.

“Matching is a powerful, cost-effective and low-latency solution for FX traders which offers real-time credit-screening, easy price discovery, concentrated liquidity and efficient execution. Our customers benefit from the advantages e-trading brings such as trade capture and automatic trade reporting. Since launching, over 30 major market players have signed up to trade USD/VND through Matching,” said Nigel Fuller, Head of Market Development, ASEAN at Refinitiv.

“Refinitiv is proud to have had a presence in Vietnam since 1994. The launch of USD/VND on Matching follows our recent launch of FXall in Vietnam and highlights our on-going commitment to help deepen financial markets in Vietnam and the broader ASEAN region. We continue to work closely with central banks, liquidity providers, and buy-side participants to promote the development of efficient, fair and effective markets in the region,” said Neill Penney, Managing Director and Co-Head of Trading at Refinitiv.