Bangkok--13 Jun--SET Thailand Futures Exchange PCL (TFEX)’s Board of Directors has approved contract specifications and trading procedures for gold futures with the commonly-traded 96.5% gold bar as the underlying product. All specifications will be submitted to the Securities and Exchange Commission (SEC) for consideration prior to the launch. Gold futures will be traded by cash settlement. TFEX plans to have completed its preparations by September and will be working with government agencies to amend relevant rules and regulations, TFEX Managing Director Kesara Manchusree said. “The Board approved in principle the involvement of foreign agents experienced in trading the underlying product or futures to be Market Makers, to increase market liquidity. To ensure good local business connections and future market development, TFEX will also enable Thai gold businesses to act as Market Makers,” Ms. Kesara added The exchange has refined its systems for trading, clearing and settlement and tested these with its members. TFEX is developing regulatory change proposals and organizing seminars and training for investors. The exchange, in conjunction with Thammasat University (TU), invited TU researchers, SEC representatives, TFEX brokers and gold business entrepreneurs to participate in a research presentation and discussion on gold futures on June 13. TFEX has also increased the channels available to investors by accepting new derivatives members, with nine applicants currently being considered. Successful applicants must complete system-testing in trading, clearing and settlement with Thailand Clearing House (TCH) by mid-August. For more information, please contact TFEX Products and Services Dept. tel (66) 2229-2758/ 2760 or visit www.tfex.co.th