The Vietnam Bond Market Association (VBMA) is implementing four market makers agreements, including the Government Bond Outright Trading Agreement since April 2012, the Government Bond Repo Trading Agreement since June 2020, the USD/VND Interest Rate Swap (FX Swap) Trading Agreement since September 2021, and the Financial Institution Bond and Certificate of Deposit (FI Bond & CD) Trading Agreement since September 2023.

The implementation of these agreements has provided reference prices for financial transactions in the Vietnamese market, promoting liquidity, and enhancing market transparency. In December 2024, VBMA sent letters to all association members inviting them to register for participation in these four market-making agreements in 2025.

After the evaluation and approval process, VBMA determined that Sacombank (Saigon Thuong Tin Commercial Joint Stock Bank) met the criteria for participating in the Government Bond Repo Trading Market Maker Agreement from January 13, 2025, bringing the total number of market makers to 13.

The number of market makers in the Government Bond Outright and FX Swap Trading Agreement remains at 14 and 15, respectively.

Annually, VBMA awards prizes to market makers with significant contributions, such as those with highest trading volumes, contributing bid/ask quotes with the most narrow spreads, and contributing firm quotes for the most number of tenors.

In the future, VBMA will continue to implement existing market-making agreements and develop new agreements based on the needs of its members to support market's development.