Bangkok--14 Jul--SET For the first half of 2008, Thailand Futures Exchange PCL (TFEX) recorded an average daily trading volume which rose by an impressive 122% year-on-year (y-o-y). The exchange expects the increase of turnover as there are lots of interest in gold and stock futures, TFEX’s new products. TFEX and related agencies have concentrated on investor base expansion despite market conditions and external factors being far from favorable. Increased trading volume and investor numbers are due to the expansion of trading channels and marketing campaigns, TFEX Managing Director Kesara Manchusree said. During January-June 2008, TFEX’s average daily trade was 6,340 contracts, a 122% rise from the 2,850 for the same period last year. Average daily turnover value was THB 3.68 billion (approx. US$106.42 million), or a 160% increase y-o-y. The total number of derivatives accounts was 11,932, a 170% rise on the 4,426 accounts for H1/2007. However, average daily trade is lower than the exchange’s target of 10,000 contracts due to lower-than-expected SET50 Index Options trade. Investors have viewed this product as rather complex and have not been confident in trading them. Consequently, TFEX will boost educational and promotional support to increase liquidity for SET50 Options. In 2008, the exchange welcomed two new members - Syrus Securities Co., Ltd. and UOB Kay Hian Securities Co., Ltd. - and is now accepting 10 further new members, to provide investors with more trading channels. In additions, TFEX did survey attitudes and behaviors of retail and institutional investors, and marketing officers to identify obstacles to trading. This data will enable the exchange to better satisfy investors’ requirements and refine its marketing, Kesara added. Investor education remains a high priority, with local and foreign experts invited to share their experiences with investors in 14 separate events. Other activities included the Lucky with TFEX project which identified the 10 most profitable investors in TFEX and the Top 20 Futures Icon which rewarded the 20 marketing officers, who did most to expand the investor base, with a field trip to Korea at the end of this month. “During H2/2008, the exchange will emphasize promotional and educational activities, focusing on SET50 Index Options and new instruments, specifically gold and stock futures. These new products will increase TFEX’s appeal to investors and multiply trading volumes in H2/2008,” Kesara concluded.