Bangkok--Dec 17--SET
Course Fully Booked
Thailand Futures Exchange Pcl. (TFEX) will start accepting brokers for derivatives trading in early 2005. It has been preparing to get all the necessary work systems and human resources on both the brokerage and investor sides to be ready for the trading of theits first product, the index futures.
The TFEX’s Managing Director, Mrs. Kesara Manchusree, has disclosed about the progress of TFEX. The new entity that its has submitted itsan application to set up a trading exchange with the Securities and Exchange Commission (SEC) by having the Thailand Clearing House (TCH) to acting as its clearinghouse. Concerning TFEX’s clearing and settlement system, “wWe are in the process of it is in the process of acquiring a state-of-the-art,n electronic international standards system from a renowned system developer abroad of latest technology and meets international standards to be used for the trading ourthe derivative products. Moreover, to facilitate our members, TFEX will also provide the front-end system for brokers as well,” Mrs. Kesara said.
“TFEX will begin accepting member companies or brokers in early 2005. The companies Firms wishing to apply for membership must possess an SEC license to operate in the derivative brokerage business and must meetare qualified by TFEX qualifications and regulations”, she continued.
Concerning clearing and settlement system, we are in the process of procuring a system from a renowned system developer abroad. Moreover, to facilitate our members, TFEX will also provide the front-end system for brokers as well,” Mrs. Kesara said.
In preparing the back-office facilities, TFEX is collaboratinges with the Back Office Service Bureau to provide related back-office services for derivative trading. Details on member applications, rules & regulations, preparation, and system testing will be provided and undertaken in early 2005. TFEX will closely coordinate with the Association of Securities Companies (ASCO) to get these things readyprepared.
Mrs. Kesara also said that “TFEX is still on its track into developing the necessary pool of quality professionals for the inauguration of index futures trading. This includes executives, marketing representatives and staff of the brokerage firms. They will have an opportunity to gain from the extensive experiences of both domestic and overseas trainers. Courses will continuously be held throughout the year and will be especially designed to fit each specific group of audiences. Trading simulations will also be provided to give participants hands-on experience.”
“On the investor side, TFEX will organize courses specifically for both retail andas well as institutional investors. The courses will be designed with an emphasis on product profiles, and investment techniques and strategies. Investors can attend TFEX’s training without any charges. Additionally, TFEX will be knocking on the brokers’ doors to reach the investors group in the brokers’ trading rooms,” Mrs. Kesara said.
TFEX will cooperate with academic institutions in producing a newyoung generation of young, enthusiastic, high-quality industry professionals to further help develop the Thai derivatives market.
For additional information about TFEX and its training programs,
please browse TFEX’s website,
www.tfex.co.th, and or the SET’s website, www.set.or.th, or
call S-E-T Call Center at Tel: 0 2229 2222. End.