Published On: Fri, Aug 31st, 2012

Thai Bourse Agrees Korea Exchange to Develop Clearing System

The Stock Exchange of Thailand (SET) signed an agreement August 31 with Korea Exchange (KRX), a leading clearing solution provider, to develop clearing and settlement system for equities, derivatives, and fixed-income products traded on SET and Thailand Futures Exchange (TFEX).

The clearing system for derivatives market will be rolled out first in the fourth quarter of 2013, followed by that for securities and fixed-income products in the fourth quarter of 2014.

SET has continued to uplift its IT infrastructure for post-trade services. With the cutting-edge technology of Korea Exchange that meet global standards, SET strongly believe the new clearing and settlement system will be able to accommodate business expansion and new financial products, enabling SET to connect and carry out transactions with other clearing houses worldwide. This development will make Thailand Clearing House one of the most prominent clearing houses in the region and be on a par with leading clearing houses across the globe, meeting demand of businesses and investors more effectively and matching the right financial opportunities for investors and business in the capital market, said SET President Charamporn Jotikasthira.

“This signing agreement is a further step in developing a cordial relationship between SET and KRX, building on our memorandum of understanding in May to continue to cooperate in information exchange, IT development, and investment and business opportunities. Moreover, today’s agreement will increase SET’s ability to connect with other clearing houses in Indochina, where KRX is the leading clearing provider,” Charamporn added.

Korea Exchange President and Chief Operating Officer, Soo-Hyung Jin, said: “The new clearing & settlement system for the Stock Exchange of Thailand will be designed to be an integrated system that will cover equities, fixed income and derivatives products. It will also be equipped with functions able to meet local and global requirements. We will utilize proven technologies used not only in Korea, but also in other financial markets. With the successful implementation of this system, we believe that SET will be able to provide better services to market participants and attract foreign investors to the local marketplace.”

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