Background
The Securities and Exchange Regulator of Cambodia (SERC) acted as the convening authority for stakeholder engagement on capital-market development and regulatory coordination. The Securities and Exchange Regulator of Cambodia (SERC) is the primary regulator responsible for overseeing Cambodia’s securities markets and market development.
Derivatives markets depend on coordinated market infrastructure, clear regulatory frameworks, and licensed intermediaries to manage counterparty and market risk. A functioning derivatives market requires trading platforms, clearing and settlement systems, licensed intermediaries, and regulatory oversight to operate effectively.
Key Developments
Under an agreement dated 22 January 2025, SERC collaborated with the International Finance Corporation (IFC) and received support from the Ministry of Finance of the Grand Duchy of Luxembourg to hold a workshop on June 8, 2026, focused on developing a Cambodian derivatives market. The event included opening remarks under the high presidency of Su Sochati, identified in event materials as the government representative serving as Director General of SERC, and a welcome address by Puth Phally, Senior Investment Officer at IFC.
Participants included SERC leadership and officials, representatives from the Ministry of Justice, the National Bank of Cambodia, the Cambodian securities firms association, a local derivatives dealers association, the Association of Banks in Cambodia, commercial banks, and central counterparties, with a reported total attendance of 80 people. Presentations were delivered by IFC senior advisers Philippe Ahoua and Jacqueline Kendi Mwiti, and the closing address was given by Dr. Vin Phakdei, Deputy Director General of SERC, representing Su Sochati.
Institutional Role
SERC led the convening activity and facilitated exchanges between international advisers and domestic stakeholders to map legal and market pathways for derivatives development. Workshop materials and remarks recorded a process of identifying key gaps, exchanging international experience, and initiating a shared direction for both legal frameworks and market arrangements in Cambodia.
Market Impact
The workshop aimed to build technical knowledge, define a roadmap, and highlight priority elements for market development, including governance, regulatory design, and market infrastructure. Event statements and program materials emphasize capacity building and stakeholder coordination as prerequisites for subsequent steps in establishing derivatives trading, risk management, and related market services.
