Over 10 million contracts processed in first year
In August 2017, Avenir delivered a state of the art multi-language real-time clearing and settlement system for the VSD, which has over the last 12 months handled more than ten million distinct contracts. Volumes handled by the frontier Vietnamese market are now in line with those transacted by central counterparty clearing houses (CCPs) for established futures markets across Asia. Peak trading in July 2018 saw more than two million contracts handled during the month, ranking the VSD around 30th out of the 54 CCPs operating globally.
Martyn Bain, co-founder and Director of Avenir, commented:
“As a business, we know there’s a real demand in emerging markets to be able to tap into the expert knowledge required to structure an efficient derivative market. The team at Avenir worked extensively with the VSD to design a scalable, robust process, supported by the necessary technology. To have seen such flow in the first 12 months of operation clearly illustrates the demand for this market and outstripping all expectations.”
Mr. Duong Ngoc Tuan, Senior Managing Director of the Vietnam Securities Depository, commented:
“We understood the benefits of providing a comprehensive infrastructure, especially in terms of clearing and settlement systems for the Vietnam derivatives market, in terms of improving financial market structure and better developing capital formation in the country. The clearing and settlement system provided by Avenir helps us to better perform the role of CCP for the derivative market, with all settlement risks being prevented through the functionalities of the system in real-time manner, facilitating smooth and secure settlement processes over last 12 month.”
Avenir is a global developer of post-trade Financial Market Infrastructure solutions.
Supported by an agile and hugely experienced team, founders and senior staff alike all have significant levels of industry knowledge, having previously managed the set-up, establishment and operation of market infrastructures.
Avenir builds easy to use technology and advise market operators and market participants alike how best to manage risk, handle settlement and record securities market transactions beyond the point of trading.
Clients are located across the globe, including Malawi, Lebanon, Vietnam, Tajikistan, the UK and New Zealand. A number of other projects also in progress.
+44 7973 284749