Conclusions reached at that earlier meeting were used as guidelines for SET corporatization, approval for which has already been received from the committee comprising the Securities and Exchange Commission (SEC), SET, Fiscal Policy Office, Listed Companies Association, Association of Securities Companies, and Association of Investment Management companies. These conclusions will be presented to all concerned again today.
"The aim of this industry hearing on SET corporatization today is to ensure that all market participants have a clear understanding of the rationale and objectives, as well as the pros and cons, of SET corporatization. Regarding today's agenda, we plan to delineate the two juristic entities which are to be set up after the corporatization: Operating Company (OpCo) and Market Development Fund, or MDF. Details proposed are to include the structure and operation of OpCo and MDF and the share allotment of 'OpCo' to brokers and listed companies. Decisions reached at our industry hearing today will be further proposed to the SET Board of Governors and the Securities and Exchange Commission (SEC) before implementation.
After corporatization, the SET will be divided into two independent juristic entities, namely:
- OpCo: a public industry company authorized to undertake business as a stock exchange, and its related business, and
- Market Development Fund, or MDF: a fund set up by law as a non-profit and non-ownership juristic entity.
