Bangkok--19 Aug--SET Thai derivatives brokers have proposed that retail gold shops work with them by introducing clients to open gold futures accounts, a move supported by Thailand Futures Exchange PCL (TFEX) which has offered to coordinate associated business transactions. The Futures Industry Club (FI Club) will invite gold shop operators to participate in gold futures trading. The retail gold shops will be allowed to work with derivatives brokers by acting as introductory brokers and so earn commission fees similar to those paid to financial institutions. FI Club is now discussing fee rates, TFEX Managing Director Kesara Manchusree said. Currently, the commission fee rate paid by brokers to financial institutions for introduced clients is in two parts - an up-front fee for convincing the client to open an account and a retaining fee based on the client’s trading volume. This new collaboration will greatly benefit participating shops as they can increase business by advising clients rather than by investing in trades, which is costly, complicated and requires increased personnel. “TFEX is delighted to see more collaboration between its members and gold shops. To promote a full exchange of information, the exchange will invite the Gold Traders Association of Thailand and the gold shops’ club to meet TFEX members and system developers to discuss gold futures and potential business transactions. “The exchange is confident that this collaboration will help the development of gold futures and benefit investors by providing more trading channels. Furthermore, gold futures will give the shops protection against fluctuating gold prices,” Ms. Kesara concluded. For more information, please contact TFEX Products and Services Dept. tel (66) 2229-2758/ 2760 or visit www.tfex.co.th