Bangkok--3 Mar--SET
Thailand Futures Exchange PCL (TFEX) welcomed four new gold-related agents to TFEX membership today. The agents started trading today (March 2), with good market prospects due to high growth in gold futures trading.
“It’s a pleasure to have gold-related agents join as our members, as they will provide investors with easier access to gold futures trading. This is the first time that TFEX accepted non-securities firms as members, so this is a significant development for the Thai capital market”, disclosed TFEX’s Chairman Pakorn Malakul Na Ayudhya,
The new agents are Hua Seng Heng Gold Futures (HGF), MTS Gold Futures (MTSGF), TC Ausiris Futures (TCAF), and YLG Bullion & Futures (YLG). GT Wealth Management (GTW) is applying to be a gold-related agent and expects to start operating in mid-2009.
“Gold futures is now received great attention from investors. Daily gold futures trading in February was an average of 320 contracts. This is quite satisfying when compared to the volume on its first trading day (February 2, 2009) of 74 contracts. The participation of these new gold-related agents is very positive and at an appropriate time. Since gold futures trading is just beginning, there will be more opportunities to expand the investor base and promote the product,” added Mr. Pakorn.
Note:
Hua Seng Heng Gold Futures Co., Ltd. (HGF)
Hua Seng Heng Gold Futures Co., Ltd., is from the Hua Seng Heng group, with 50 years of experience in operating gold shops and Pattana Agro Futures Co., Ltd., which operates an agricultural futures business.
MTS Gold Futures Co., Ltd. (MTSGF)
MTS Gold Futures Co., Ltd.’s major shareholder is Mae Thong Suk group, which has over 50 years of experience in trading, importing and exporting of gold. The group also manufactures gold bars under the brand “MS Gold,” with logo “Chat” (The Royal Thai Crown) on the gold bar.
TC Ausiris Futures Co., Ltd. (TCAF)
TC Ausiris Futures Co., Ltd.’s major shareholder is Ausiris Co., Ltd., gold bar distributor and member of the House of Goldsmiths Group. The group has more than 70 years of experience in operating gold shops. Ausiris Co., Ltd. was established in 2003 to distribute gold bars of 99.99% and 96.5% purity
YLG Bullion & Futures Co., Ltd. (YLG)
YLG Bullion & Futures Co., Ltd’s major shareholder is YLG Bullion & Futures International Co., Ltd., which has more than 30 years of experience in jewelry and investment in gold bars, selling to both domestic and international markets.
GT Wealth Management Co., Ltd. (GTW)
GT Wealth Management Co., Ltd.’s major shareholders are members of the Gold Traders Association of Thailand. The Association members have more than 50 years of experience in gold retailing and wholesaling, with executives expert in futures contracts. GTW is applying for TFEX membership.
For more information, please contact Public Relations Unit, the Corporate Communications Dept.:
Ladawan Kantawong Tel: 0-2229-2036 / Kanokwan Khemmalai Tel: 0-2229-2048 / Panitee Chatpolarak Tel: 0-2229-2792