Bangkok--28 Mar--SET
To expand the country’s investor base, The Stock Exchange of Thailand (SET) is collaborating with commercial banks in providing online trading capability, enabling capital market transactions to be done conveniently through securities firms’ “online” branches, which will be located in commercial banks. Up to 30 such branches are expected by end-2007, SET Senior Vice President Mr. Kengkla Ruckphaopunt said.
There will be two types of securities companies’ branches at commercial banks: “full” and “cyber” branches. The full branch will, in turn, come in two forms, with the first one having a branch manager or authorized employee who is responsible for only that branch physically present at all times. Any securities firm wishing to open such a branch should apply to the Securities and Exchange Commission (SEC), as per current SEC rules.
The second form of full branch currently being considered by SEC and subject to their approval, is where a manager is responsible for a number of branches.
The cyber branch allows investors to open and operate their securities trading accounts independently and online, with no officer present to provide investment or trade advice.
“A cyber branch enables investors to conveniently access the capital market, while allowing securities companies to contact clients more easily and cheaply. This initiative also provides a channel for investor education in savings-investment planning, for marketing activities and for the many product launches planned this year. From April on, SET will be explaining the operations of the scheme to brokers,” concluded Mr. Kengkla.
For more information, please contact the Corporate Communications Dept.:
Ladawan Kantawong Tel: 0-2229-2036 / Sarinluck Jitkawong Tel: 0-2229-2037 /
Nattaporn Boonprapa Tel: 0-2229-2049 / Watsamon Saowakhonsathien Tel: 0-2229-2797