Bangkok--30 Oct--SET
The Stock Exchange of Thailand (SET)’s Board of Governors (BoG) today (October 29, 2008) extended the fee arrangement for internet securities trades by general clients. This will continue at no less than 0.15% of trade value (or 60% of the general trade fee rate) through a cash balance or credit balance account - until Thailand has successfully liberalized stock trading fees, SET Executive Vice President and BoG Secretary Suthichai Chitvanich said.
The current program was originally to expire at the end of 2008 and the extension is in response to a request by the Association of Securities Companies.
For clients who do not trade through either account, the fee will be at least 0.20% of trade value (or 80% of the general trade fee rate).
The SET Board noted that, to promote new investor groups and internet-based trade discipline in the current global financial crisis and consequent stock market fluctuations, cash balance or credit balance securities trading is helpful and will both reduce risk and benefit overall stock trading. The Board suggested that there be another meeting with all members before presenting the issue for the Securities and Exchange Commission (SEC) approval and implementation.
Since the start of internet-based trading fee collection, the number of clients has increased by nearly 50% between the year 2006 and June 2008 and the average internet trade volume during the first six months of this year tripled from two years ago.