Legal Counselling

Supplementing conditions for establishment of commodity exchanges in Vietnam

08:36, 21/09/2018

On April 09, 2018, the Government of Vietnam issued Decree No. 51/2018/NĐ-CP on amendments to some articles of Decree No. 158/2006/ND-CP elaborating the Commercial Law with respect to trading in commodities through commodity exchanges.

According to new regulations, a commodity exchange may be established if:

1. it has a charter capital of at least one hundred and fifty (150) billion dong;

2. it has an information system that meets requirements for technology for trading in commodities through commodity exchanges. To be specific:

- The server system shall operate stably and there should be at least one backup server at the ready in the event of a failure of the primary server;

- The server system shall back up business application data, trading data and recover data in the event of a failure;

- Application software shall comply with requirements for intellectual property rights in accordance with regulations of law;

- The software system shall have the ability to log trading, payment and delivery during business process for a period of at least 05 years;

- The information system shall comply with technical regulation on cyberinformation security, if any.

3. Its charter is not contrary to regulations of this Decree.

View more details at Decree No. 51/2018/NĐ-CP of Vietnam’s Government, effective from June 01, 2018.

- Thanh Lam -

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

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