Bangkok--2 Jan--SET
The Thailand Futures Exchange PCL (TFEX), under The Stock Exchange of Thailand (SET) group, announced that in 2012, its daily average volume was at 43,823 contracts per day, a 6.5% increase y-o-y from 41,145 contracts in 2011, while daily average value was at THB 22,074 million per day. Total trading volume in 2012 was 10,457,928 contracts. Most of the derivatives contracts traded were SET50 Futures, at 37.6% of total trading volume; gold futures at 33.9%, single stock futures at 20.2%, and USD futures at 6.3%, said TFEX Managing Director Kesara Manchusree.
With the equity market movements, investors’ interest in single stock futures significantly increased. The daily average volume was at 8,849 contract, or 36.8% increase from 6,468 contract in 2011; the open interest was at 161,970 contracts, or 59.37% of total market open interest at 272,810 contracts (as of December 27, 2012). To serve investors’ need, TFEX is adjusting the stock futures’ position limit to 1 percent of underlying stocks’ listed shares, with the minimum at 20,000 contracts, so that stock futures will better reflect the size of underlying stocks.
In 2012, TFEX introduced two new products--USD futures, to be used as a risk management tool for entrepreneurs, and sector futures, tracking the movement of five major sectorial indices-- Banking (BANK), Information & Communication Technology (ICT), Energy & Utilities (ENERG), Food and Beverage (FOOD), and Commerce (COMM), which help investors to rebalance their portfolios and manage risks. Also, it modified three existing products--SET50 Futures, with two nearest monthly contracts added; SET50 Options, with shortened contract dates and an increased strike price interval (from 10 points to 25 points); and stock futures, with a revised settlement price calculation method that now uses volume weighted average prices, in order to provide more investment choices for investors.
TFEX also changed its name in Thai and logos to be aligned with the SET group logo, effective from January 1, 2013 onwards.
In 2013, TFEX will continue to expand its investor base as well as enable them to use derivatives to manage their portfolios more effectively. In addition, TFEX will promote SET50 Futures monthly contracts by reducing its trading and clearing fees to THB 10 per contract from THB 50 for the four new contract months of SET50 Futures maturing in January (S50F13), February (S50G13), April (S50J13), and May (S50K13).
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