New decree overhauls commodity market with new clearing, listing rules

New decree overhauls commodity market with new clearing, listing rules

One of the key changes is the establishment of an independent clearing centre, separate from commodity exchanges.

Trading at Mercantile Exchange of Vietnam.The Decree No. 302/2026/NĐ-CP on trading via commodity exchanges will take effect on September 15. — Photo MXV

The commodity market is undergoing a sweeping overhaul with the introduction of an independent clearing centre, real-time market surveillance and a roadmap for listing domestically produced commodities, as the Government seeks to strengthen market transparency, safety and integration with global markets.

The changes are set out in Decree No. 302/2026/NĐ-CP which will take effect on September 15 to replace Decrees No. 158/2006/NĐ-CP and No. 51/2018/NĐ-CP after nearly two decades.

One of the key changes is the establishment of an independent clearing centre, separate from commodity exchanges.

The centre will handle clearing and settlement, margin management and risk management, bringing Việt Nam’s commodity trading infrastructure closer to international practices and strengthening safeguards for the market.

Commodity exchanges will be required to have a roadmap for listing commodities produced in Việt Nam as a condition for their establishment and continued operation.

The requirement is intended to support the formation of transparent market-based reference prices, helping domestic businesses manage price risks while raising the profile of Vietnamese commodities in international markets.

The decree also introduces real-time market surveillance based on electronic data, which will give regulators greater access to information on emerging market risks.

Data will be connected to and continuously transmitted to the Ministry of Industry and Trade on risk management, margins, position limits and price bands, allowing regulators to identify potential risks at an earlier stage and intervene when necessary.

The new decree is designed to operate alongside Decree No. 330/2025/NĐ-CP governing commodity exchanges in the international financial centre to create a unified regulatory framework for Việt Nam’s commodity trading market.

Also, Việt Nam has recently moved to establish a dedicated legal framework for commodity derivatives trading, which could give businesses more tools to hedge price risks, provide investors with additional investment products and help Vietnamese commodities gain a stronger role in international price formation.

The Government recently approved five major policy groups for the proposed Law on Commodity Derivatives Trading under Resolution No. 220/NQ-CP, covering the legal framework, development of derivatives markets alongside physical commodity markets, trading and clearing infrastructure, regulatory innovation and international connectivity.

The proposed framework is intended to consolidate regulations that are currently spread across different areas and create a more unified framework for commodity derivatives trading in Việt Nam.

The country is a major producer and exporter of commodities including coffee, rubber and agricultural products, but domestic businesses often still rely on prices formed in international markets as references for buying and selling.

A more developed domestic derivatives market could give producers, exporters, importers and commodity traders additional tools to manage that exposure, particularly for commodities whose prices are heavily influenced by global supply and demand, experts said. 

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