Bangkok--29 Nov--IR network
Finansia Syrus Securities Public Company Limited (FSS) and BNP Paribas Securities (Singapore) Pte Ltd jointly announced today that they have signed a Cooperation Agreement, together with Finansia’s majority-owned subsidiary, ACL Securities Co., Ltd. (ACLS). The Cooperation Agreement covers the establishment of institutional research, sales and dealing teams in ACLS to support institutional clients of BNP Paribas trading on the Stock Exchange of Thailand (SET) and Thailand Future Exchange (TFEX). ACLS would also provide Direct Market Access or DMA trading services to BNP Paribas clients.
Thailand represents an integral element of BNP Paribas' research and trading strategy for the ASEAN region. "This Cooperation Agreement with Finansia and ACL demonstrates our commitment and determination to build a balanced Asia Pacific equities and derivatives platform", said Pierre Rousseau, Head of Equities and Commodities Derivatives for BNP Paribas Asia Pacific.
ACLS is an 89 percent owned subsidiary of FSS and has shareholder equity of Baht 473 million as of 30 June 2010. It has all 4 securities licenses and is a full member of both the SET and TFEX. FSS is a major retail broker with a 4.9% market share and ranks 5th of all securities brokers for October 2010. FSS has positioned itself as a retail brokerage specialist as over 90 percent of its business derives from local retail clients, while ACLS, in cooperation with BNP Paribas Securities, will focus exclusively on institutional clients. This market segmentation will reinforce a “Chinese wall” separation between the two business categories of FSS.
Natsinee Rabiabnaveenurak e-mail :
[email protected]
Nattaphong Chaiklaew e-mail :
[email protected]