The Stock Exchange of Thailand (SET) and the Korea Exchange have signed an agreement to develop a clearing and settlement system for equities, derivatives, and fixed-income products traded on SET and Thailand Futures Exchange (TFEX).
The clearing system for the 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, while leveraging the clearing technology of the Korea Exchange that meet global standards. In a statement, the SET said 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.
(JDC)