Thai Bourse Upgrades To Meet Cutting-Edge IT Standards

The Stock Exchange of Thailand (SET) is upgrading its core IT systems to meet world-class standards, in conformity with its IT Master Plan. This upgrade will open new business opportunities and reduce costs for not only the SET but also securities companies.

Subject to finalization of its agreement with the SET, Cinnober Financial Technology AB will develop the exchange’s core systems, including those for trading of both equities and derivatives, market information dissemination, and market surveillance. The systems will start to go live in 2Q/2012, SET President Charamporn Jotikasthira revealed.

“Developing these core systems will not only significantly boost the Thai capital market’s efficiency and competitiveness, but will also bring in more business opportunities for the SET and securities companies while helping cut overall operational costs. When complete, the speed of the new trading platform will be at a leading-edge level, attracting more traders and investors from all over the world.

The new platform will accommodate high-frequency and algorithmic trading, both of which have been seeing fast growth. In addition, it will accommodate linkage with other securities markets. All of these events will promote market liquidity. Moreover, as the Cinnober system can handle trading of all types of financial products, introduction of new products will be easy and timely, meeting market demand,” he continued.

The SET’s decision to upgrade its market surveillance system also reflects its determination to ensure fairness and transparency in trading. “These systems will have risk management capabilities that are world-class, and will maintain a level playing field for all parties”, said Mr. Charamporn.

Cinnober Financial Technology AB is one of the world’s leading system developers for stock exchanges, based in Sweden. It has widely-recognized expertise in developing stock trading platforms for both established exchanges and the Alternative Trading Systems (ATS), which have been growing rapidly around the world.

The combination of SET’s internal IT strength, with its established track record, and Cinnober’s cutting-edge development expertise will elevate SET’s IT capability to another level.

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