Bangkok--8 Feb--SET Thailand Securities Depository Co., Ltd. (TSD)’s board of directors approves in principle to transfer its clearing and settlement unit to a subsidiary, Thailand Clearing House Co., Ltd. (TCH), and so create one integrated clearing house for a variety of financial instruments. This initiative, to be completed in 2009, will reduce operational costs and make risk management measures more efficient. Currently, TCH handles derivatives clearing only. The integration will produce a more appropriate fee structure and bring services into line with international standards, TSD Chief Executive Officer Sopawadee Lertmanaschai said. “The move clarifies TCH’s business direction and, by removing the risks associated with the guarantor role from the depository, will build confidence among depositors. It will allow TSD to focus on its core depository service,” TSD’s CEO added. The decision follows the recommendations of SEC (Securities and Exchange Commission) and international organizations, such as International Organization of Securities Commission (IOSCO), Asian Development Bank (ADB) and Bank for International Settlements (BIS). The clearing house integration process will require further action, such as increasing the capital base and settlement fund, restructuring membership fees. Another action concerns its organizational structure, which should be in line with The Stock Exchange of Thailand’s study on the group’s structure. For more information, please contact TSD Business Relations Unit Ms. Chantanee Pongkrasin Tel: 0-2229-2896 Email: [email protected] http://www.tsd.co.th