Thai Futures Exchange USD Futures Well Received on 1st Trading Day
“A launch of the USD Futures today demonstrates our commitment to provide a new effective hedging and trading tool for investors. The first trading day volume is 3,429 contracts. As the U.S. dollar is the currency most used in international trade transactions, the USD Futures provide opportunities for small and medium-sized enterprises to be able to more efficiently manage Thai Baht/ U.S. dollar exchange rate risk. The USD Futures is also an exchange rate hedging tool for investors who invest in oversea or products related to world commodity” said TFEX Managing Director Kesara Manchusree.
A USD futures contract values USD 1,000, or approximately THB 32,000. On the first trading day, the total of 3,429 contracts consisted of 3,272 contracts of USDM12 maturing in June at THB 31.68 settlement price; 31 contracts of USDN12 maturing in July at THB 31.77 settlement price; no traded contracts of USDQ12 maturing in August at THB 31.82 settlement price, and 126 contracts of USDU12 maturing in September at THB 31.86 settlement price.
To promote USD futures, retail investors who trade USD futures more than 5,000 contracts per month for three straight months (June-August) or have a combined trading volume exceeding 15,000 contracts during the three-month period will receive “The New iPad”. Investors can trade USD futures by opening accounts with authorized brokers, currently have 31 brokers, said Kesara.